Microalgae biostimulants get boost as 2 European firms launch strategic PNA joint venture

Phoenix Biosolutions and Portugal’s Necton Group have formed PNA, an exclusive joint venture to develop, produce and sell microalgae biostimulants and other microalgae-based inputs for agriculture.

The venture, reported by New AG International on October 6, starts with CE-marked biostimulants already cleared for sale under European rules. Financial terms were not disclosed.

Necton brings production. Founded in 1997, it runs two industrial microalgae facilities and describes itself as Europe’s first industrial microalgae producer, with the continent’s largest capacity. Its systems include tubular photobioreactors, vertical reactors, raceways and fermentation.

Phoenix contributes enzymatic extraction technology that recovers functional compounds from algal biomass. It also brings regulatory expertise and market access. Two of its founders are former presidents of the European Biostimulants Industry Council.

Beyond microalgae biostimulants, PNA is researching products to improve nutrient-use efficiency and crop tolerance to abiotic stress.

João Navalho, chief executive of Necton, said Phoenix gives the group the expertise it needed to diversify beyond aquaculture and human nutrition. Phoenix chief executive Carlos Rodríguez-Villa called Necton probably the most relevant microalgae player in Europe.

The deal adds to a run of European investment in biological input manufacturing. Belgium’s Zymofix raised €6 million for microbial production earlier this month.

Source: New AG International