News and Announcements
Genesis Algae Moves Closer to First Sales
- Published April 17, 2017 12:00AM UTC
- Publisher Wholesale Investor
- Categories Company Updates
Genesis Algae has moved closer to first sales in the human health market. The first batch of Chlorella algae has now been dried into powder form and packaged, ready for sales over the coming weeks.
KEY TAKEAWAYS:
- Genesis has recently returned from the largest natural health expo in the world- Expo West in Los Angeles.
- The department of Trade and Investment Queensland sponsored Genesis attendance at this event, coordinating introductions with buyers and retailers.
- Many potential customers both in Australia and the USA have been identified overall being a success.
- The company has constructed its first commercial facility in Bowen and will expand the current pond system during 2017 to meet demand.
- Genesis is currently undertaking a $500k capital raising which is now 60% subscribed.
Genesis agreed to terms of purchase of a 20-hectare parcel of land adjacent to existing facility, providing all the land required to ramp up production over the next few years. Construction of new ponds will commence immediately and will progressively come on line over the coming months.
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