Two New Algae Technology Companies to Present at the AFVF
Posted by foodventureforum on September 29, 2010
There are two distinctly different methods of growing algae for various uses. IO Mega of Clinton, Iowa uses waste sugars from agricultural processing facilities to produce algae high in Omega 3 fatty acids. These omega 3 fatty acids can then be added to animal feeds and human foods at a fraction of the cost of other sources of Omega 3. This market is currently growing at annual rate of twenty-one percent and is expected to exceed $2 billion in revenue by 2014.
According to IO Mega, “Omega-3 fatty acids have emerged as a vital functional ingredient delivering significant health benefits, particularly those related to the heart…. The universal acceptance of the ‘heart health’ benefits of omega-3 oils can be ascribed to the enormous body of scientific evidence that has translated into rising consumer recognition.”
Greenwater Global LLC of Phoenix, Arizona economically grows and sells algae to companies for chemicals, feed, food, or 
fuel products. Unlike traditional open-pond growing systems, their closed tanks with 24-hour continuous production are not subject to environmental contamination. “Our competitive advantage is that our systems are inside warehouses and can be located almost anywhere in the world! This reduces transportation costs and time as well as ensures freshness for the end user.”
Algae can be used as food, fertilizer animal feed wastewater treatment and fuel. One pound of algae consumes 1.8 lbs of CO2, and algae fuels have lower emissions than petroleum fuels, making it carbon neutral. Almost any product made from petroleum can be derived from algae. “Our customers recognize the world’s diminishing natural resources and the need to find sustainable, economically-viable alternatives for chemicals, feeds, foods, and fuel while reducing their carbon footprint.”
Nutraceuticals, fertilizers, and fish feed products will be Greenwater Global’s initial focus as there seems to be a lack of dependable supply in these markets.
These and many more food and agricultural technologies will be on display at the Third Annual American Food Venture Forum, at Harrah’s in Council Bluffs, Iowa on October 19 & 20, 2010.
