Provectus Algae Receives Strategic Investment from CJ Bio
- Provectus Algae, a Noosaville, Australia-based biotech company focusing on algae proprieties, received a strategic investment from CJ BIO, a division of South Korea-based food & bio company CJ CheilJedang
- The amount of the deal was not disclosed
- The company intends to use the funds to accelerate commercialization efforts that bring innovative specialty ingredients to market
- ProvectusAlgae is a biotech company that programs algae to produce valuable specialty ingredients
- By accelerating nature, the team can optimize microalgae to produce a range of natural products in a process described as Precision Photosynthesis
- Using its techniques, the company has also developed a synthetic biology stack that complements and competes with existing production platforms to deliver sustainable products
