HYCO2 LLC, an algae growth and carbon dioxide sequestration company based in Santa Maria, CA, has announced that the company is shifting its focus to meet the growing market demand for algae production. The current algae market is growing in size and scope due to a global demand for nutrition, organic chemicals, and agriculture improvements. PHYCO2 plans to begin building commercial scale production plants and start operations within the next two years.
PHYCO2 has a high algae productivity rate due to its Algae Photobioreactor (APB) technologies that allow pure microalgae to grow indoors, 24 hours a day, at any time of the year, with minimal water consumption, and in any geographic location. PHYCO2’s APB technologies grow algae without sunlight or risk of contamination. PHYCO2 will be utilizing their APB technologies to produce algae for these growing markets.
“PHYCO2’s new technologies continuously grow pure microalgae that can be used for a multitude of everyday products, including nutritional supplements for human and livestock consumption, cosmetics, nutraceuticals, and pharmaceuticals” said PHYCO2 CEO William Clary. “Additionally, PHYCO2’s algae can help farmers through bio-stimulants to increase crop yields for organic produce. These bio-stimulants also benefit agricultural land since they are organic and do not contain nitrates or phosphates thereby limiting water run-off issues.”
Six primary high-value markets with strong growth both in the United States and globally have been identified as bio-stimulants, bio-pesticides, animal feed, nutraceuticals, cosmetics, and pharmaceuticals. The global market for algae is growing at an estimated Compound Annual Growth Rate of 7% a year, with a $1.1 billion in sales by 2022. The company is currently investing in production plants in Clinton, Iowa with an estimated initial production of 1000 metric tons of algae per year.