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Grovepoint Invests in Algatechnologies

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By: Sean Moloughney

Editor, Nutraceuticals World

Grovepoint, UK, a private investment company, has acquired a majority stake in Israel-based Algatechnologies Ltd., a company specializing in the commercial cultivation of microalgae and manufacturer of AstaPure, natural astaxanthin.

Astaxanthin is a powerful natural antioxidant with proven health benefits in several health conditions related to, joint and muscle function, skincare health, cardiovascular health and more. Algatechnologies has developed proprietary technology that allows the production of the AstaPure line in a closed system, fully controlled and totally exposed to natural sunlight, making it a sustainable facility.

“Grovepoint believes there is significant potential to grow the range of products where astaxanthin is the key ingredient and to fully exploit the potential of microalgae derived products for other commercial applications,” says Leon Blitz, CEO at Grovepoint. “Grovepoint will be making additional capital available for growing the existing business, marketing the company’s ‘Astapure’ brand around the world and investing in R&D, so that new algae derived products can be brought to market.”

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