Heliae, Sincere Corp. to build algae production facility in Japan
Algae technology company Heliae recently announced a partnership with Japan-based Sincere Corp., a waste management and recycling company, to form a joint venture and develop a commercial algae production facility in Saga City, Japan. The joint venture has been named Alvita Corp., and will combine Sincere’s operational skill, distribution networks and knowledge of the Japanese market with Heliae’s proprietary algae production technology to supply natural astaxanthin, a powerful antioxidant with broad health benefits, to the growing health and wellness market in the region.
“As we investigated technology partners for algae production in Japan, Heliae offered a truly complete package,” said Yukihiro Matsuzaka, president of Sincere Corp. “From their algae technology platform, their experience at scale, and their extensive traction in multiple industries, Heliae is clearly a world-class player and we look forward to building upon this joint venture with them and bringing algae production to Japan.”
“Local support for the project has been significant and we’re proud that the new algae production facility will bring significant community development for the Saga City area through job creation and tax revenue,” said Dan Simon, president and CEO of Heliae.
Construction of the Saga City facility is planned to begin in 2015 and Alvita’s astaxanthin product should be available on the market in Japan by 2016. The Saga City facility will be designed based on Heliae’s first algae production facility in Gilbert, Ariz. This original facility has been operational since 2013 and produces astaxanthin for the North American market.
“We choose our partners carefully, and the Sincere Corp. has a complimentary culture combined with a long track record of success in Japan,” continued Simon. “This is just the beginning of what we believe will become a long-term partnership to deliver high quality algae products to multiple markets throughout the country. We are honored to have been chosen by Sincere and excited about the potential. Now the real work begins.”