Israeli cooperative invests NIS 10 million in algae growing company

Granot Cooperative Association, a purchasing organization of the kibbutz movement in Israel, is making its first investment of NIS 10 million in BarAlgae, an algae cultivation company with advanced technology, including artificial intelligence, from Kibbutz Gan Shmuel.

The company specializes, among other things, in growing microalgae for use as food for marine animals, such as shrimp farms, cosmetics, enriching creams with anti-aging substances, and food additives, such as a supplier of omega 3, food coloring, and food flavoring.

The acquisition takes place as part of a decision made by Granot to expand its operations and enter the field of future agriculture through investments in the field of agrotech. Granot is in the process of establishing an investment fund in the field in partnership with other companies in Israel and abroad, for which it has reserved a sum of $150 million. Agronomical technologies will be a new specialization for Granot that, thus far, focused on animal processing, avocados, energy, and holdings.

BarAlgue's algae are grown in water on a farm established a year ago in Kibbutz Gan Shmuel, using advanced technology that includes artificial intelligence. BarAlgue ji is a subsidiary of TransAlgue from the Rehovot Science Park, founded in 2009 by the entrepreneur and CEO Maor Sasson. It has received a $ 33 million investment until now. 

Source: www.ynet.co.il.

 

 


Publication date:



Receive the daily newsletter in your email for free | Click here


Other news in this sector:


Sign up for our daily Newsletter and stay up to date with all the latest news!

Subscribe I am already a subscriber