27/11/2018

ALGAIA concludes a 1 million Euros innovation loan with Credit Maritime Grand Ouest

Algaia was granted today an innovation loan from Credit Maritime Grand Ouest, member of the BPCE, for an amount of one million euros in order to participate into the financing of its innovative new production lines.
“We are happy to support Algaia, a recognized innovative and dynamic company of the Britany region and growing rapidly in the Blue Economy sector” commented Matthieu KERDODE, Business Center Director of CMGO. 

This loan will allow Algaia to accelerate its investments in its field of seaweed bio-refinery. Algaia proprietary bio-refinery technology aims to maximize the value of local fresh brown seaweed. 
We want to keep the momentum of the last two years” added Damien Fablet, Algaia’s CFO Algaia.  “The company keeps investing and growing rapidly in its various market segments of Food, Cosmetics and Agriculture. Over the last 24 months, Algaia invested over 5 million Euros in its facility of Lannilis” he added.