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  FERMENTALG company press release from 17/11/2016

  17/11/2016 - 18:00

Financial information at end-September 2016


Libourne 17 November 2016 – Fermentalg, an industrial biotechnology company that specializes in the production of oils and proteins derived from microalgae, has published its financial information as at 30 September 2016.

Revenue Headcount Cash
€0.2 million 57 employees €20.1 million

Final stages before the commercialization of DHA

In line with the roadmap unveiled last March, Fermentalg's priority in 2016 is the launch of DHA, the most advanced product in the company's portfolio.

DHA is a highly sought-after essential fatty acid (Omega-3) known for its role in the prevention of numerous illnesses. It is recognized for its beneficial effects on the brain (tissue, healthy development and increase in intellectual capacity) and the heart (reduction in triglycerides, cholesterol and the risk of cardiovascular disease).

Fermentalg has already completed several major milestones in the program, including the completion of the DHA process book for the company's facilities in Libourne and the scale-up tests (production using industrial fermenters) by its partner, ARD.

The company has confirmed that it intends to launch the production and commercialization of DHA before the end of the year. Industrial investments for the first half of 2016 are estimated at €2 million (including materials and labor).

Delivery of the IDU

Fermentalg has also taken delivery of the building (excluding equipment) which will house its Industrial Development Unit (IDU) in Libourne (Gironde). The new unit, which represents an estimated global investment of €23 million, is scheduled to be commissioned in 2018.

Financial overview

At the end of September 2016, Fermentalg had a robust and healthy financial footing to underpin its development strategy. Gross cash stood at €20.1 million, with revenues generated through its partnerships over the period amounting to €0.18 million (0 at the end of September 2015).

To the best of its knowledge, there are currently no events liable to have a material impact on the Group's financial situation on 30 September 2016.

About Fermentalg

Based in Libourne (Gironde), Fermentalg is an industrial biotechnology company and a global leader in the production of oils and proteins derived from the fermentation of microalgae. Its primary markets are the human nutrition and animal feed sectors and the green chemistry industry. Fermentalg shares are listed on Euronext in Paris (FR0011271600 - FALG). For more information, visit the Fermentalg website at: www.fermentalg.com.

 
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  Original Source: FERMENTALG