Marine oil innovator Epax is investing $35 million over the next two years to increase its capacity and boost innovation in the omega-3 sector. The company will expand capacity at its main production facility in Ålesund, Norway, allowing output to increase by more than 50% by 2021. At the same time, a new manufacturing facility nearby will provide raw materials for new and specialized marine ingredients.
The investment will also enable the implementation of technology to increase eicosapentaenoic acid (EPA) and docosahexaenoic acid (DHA) concentration without triggering oxidation. The new distillation process will pave the way for gently processed products with concentration as high as 70% by weight.
Much of the new investment will be allocated to R&D, including clinical studies on the benefits of innovative new marine ingredients in dietary supplements.
“This substantial investment will create new possibilities for the marine ingredients sector in terms of concentration, purity, and quality,” said Bjørn Refsum, CEO of Epax. “We’re particularly excited about our new distillation process, which we believe is the most effective and environmentally friendly way to achieve high levels of EPA and DHA without creating unwanted by-products and waste materials.”
Geltor has announced the closing of a $91.3 million Series B financing that will fuel the global expansion of its ingredients-as-a-service platform.
Gathered Foods, makers of Good Catch plant-based seafood, has announced the appointment of Christine Mei as CEO.
Joywell Foods, a food technology company developing a sweet protein portfolio, has announced the closing of a $6.9 million Series A financing round.
Oatly, maker of oatmilk, has received $200 million in equity led by Blackstone Growth.
According to The Dallas Morning News, Texas-based Frito-Lay will invest $200 million in a plant expansion in Georgia that’s expected to create about 120 new jobs.
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