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Global leader in microalgae industry Algatech appoints new CEO

Algatech has announced the appointment of Mr Doron Safrai as its new Chief Executive Officer.

Mr Safrai’s appointment comes at an important moment in the company’s development as the company now looks forward to the launch of a new product related to the use of β-1,3-glucan derived from microalgae Euglena gracilis. This will be Algatech’s third commercial product alongside FucoVital™ and AstaPure® Astaxanthin.

In May 2019, Algatech joined the Solabia Group, a global leader in biotechnology, fine chemicals and plant extraction technologies, as its nutrition platform for existing products. The company believes that with Solabia’s backing and global footprint, coupled with the fresh vision of a new CEO, will support the acceleration of its growth trajectory as it expands its global microalgae product offering and cements its credentials as a company at the cutting-edge of developments in the sector.

Geoffroy Madelin, General Manager of Solabia Group commented: “We look forward to working closely with Mr Safrai in this new phase of the company’s development as part of the Solabia Group. With Mr Safrai’s oversight and direction, Algatech is well positioned to accelerate its growth by building on Solabia’s and Algatech’s existing specialist knowledge and infrastructure and capitalising on a still largely untapped market”.

Commenting on the appointment, Mr Doron Safrai, Chief Executive Officer of Algatech, said: “I am delighted to be joining Algatech at such an important time in the company’s development. It is already a market leader, pioneering some of the world’s most exciting and promising microalgae products that will have a transformational impact on human and animal health over the coming decades. I look forward to working closely with the unparalleled team at Kibbutz Ketura and our partners at Solabia Group to take Algatech forward into the next chapter of its growth.

Mr Safrai will join other members of the Algatech team at October’s Supply Side West summit in Las Vegas.