Alltech acquires Martek algae plant
Kentucky based animal nutrition specialist Alltech Inc. has acquired a state-of-the-art algae fermentation facility in Winchester, Kentucky from Martek Bioscience Corporation for approximately $14 million.
“For Alltech, algae fermentation presents our latest technological platform from which we expect incredible opportunities in the areas of food, feed and fuel to arise.” said Alltech President, Dr Pearse Lyons.
“We have worked in this area for several years and see it playing a major role in both human and animal health and nutrition as one of the world’s more renewable food and energy sources. […] I am confident that this will be one of the key pieces that will help our company pass the $1 billion revenue threshold in 2015,” Lyons continued.
The purchase price will be paid over four years and will include the majority of the assets on the 23 acre site. The site will be renamed Alltech Winchester.
The plant will represent a further increase of over 1 million litres of fermentation capacity for the company and become its 5th primary production site in North America and 10th globally. Alltech also has 21 further production sites, which tailor its products for its 120 local markets.
Algae are some of the fastest growing plants in nature and have the ability to convert large amounts of carbon dioxide into oxygen, a characteristic that makes it particularly interesting in today’s more environmentally conscious world.
