Yokogawa and AlgaEnergy, a Spanish biotechnology company specialising in the production and commercial applications of microalgae, have announced the signing of a strategic partnership and equity participation agreement. The agreement involves an approximately €10 million investment by Yokogawa to acquire newly issued shares of AlgaEnergy.
Microalgae are a diverse group of unicellular photosynthetic organisms that can thrive in a wide variety of aquatic habitats, such as oceans, lakes and rivers. Their rapid rate of reproduction means they can be utilised effectively as a biological resource through applications in diverse sectors ranging from agriculture, food and animal feed, through to pharmaceuticals and sustainable biofuels. The entry of Yokogawa as a shareholder will enable AlgaEnergy to reinforce its position of international leadership, with the equity investment being used to fund projects that include international expansion.
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