Algaetech International Sdn Bhd, a leading algae company, is developing a RM27 million astaxanthin facility for Haematococcus pluvialis cultivation at Technology Park Malaysia (TPM), aimed at penetrating the US and New Zealand market.
The facility is expected for completion by year-end while the first production would be delivered in the first quarter 2015.
By the completion of this facility, the Algaetech will be able to produce 3.5 tonnes of biomass per month making it one of the largest producers of Haematococcus pluvialis biomass in the region.
The company also plans to build a similar facility in Brunei which is expected to start in early 2015. By this facility, the production will double to 7.0 tonnes.
The facility at TPM is constructed on a 2.07-hectare land. It will have a 100,000 sq. ft. floor area and its bio-processing and laboratory areas will be equipped with the latest high-tech machineries.