Share this on:
 E-mail
30
VIEWS
0
COMMENTS
 
SHARES
About this iReport
  • Not verified by CNN

  • Click to view HenMit's profile
    Posted August 23, 2014 by
    HenMit
    Location
    Kuala Lumpur, Malaysia

    ASEAN’s first Astaxanthin project

     
    ALGAETECH INTERNATIONAL LAUNCHES ASEAN’s 1st ASTAXANTHIN FACILITY IN TECHNOLOGY PARK MALAYSIA(TPM)

    (ASEAN’s first Astaxanthin project with a monthly production capacity of 3.5 tons)

    Here in Kuala Lumpur, on the 21st of August 2014, Algaetech International launched ASEAN’s (The Association of SouthEast Asian Nations) first Astaxanthin Facility in TPM (Technology Park Malaysia) officiated by YBhg. Datuk Md. Zubir Ansori Yahaya, Managing Director/CEO of Malaysia Debt Ventures Bhd (MDV).

    Upon complete construction of the facility, Algaetech will be able to produce 3.5 tons of biomass, making it one of the largest producers of Haematococcus Pluvialis biomass in the region.

    Haematococcus Pluvialis is the microalgae which produces the super anti-oxidant known as Astaxanthin.
    Research by experts around the world have proven that the Carotenoid Astaxanthin is 6,000 times stronger than Vitamin C and is also known to reduce the risk of cancer, increase endurance and muscle recovery, and even contains anti-ageing abilities.

    The facility is constructed on a five-acre land sub-leased from Technology Park Malaysia Corporation Sdn Bhd at Bukit Jalil, Kuala Lumpur with a 100,000 sq. ft. floor area. The two-storey facility is segregated into two cultivation greenhouses and a 22,000 sq. ft. bio-processing and laboratory area. The bio- processing and laboratory area will be equipped with the latest high-tech machineries available in the market. The design of the facility was tailored specifically to Algaetech’s needs with ‘state of the art’ clean room technologies to improve the levels of contamination and cleanliness.

    An exchange of documents for the five acre land lease agreement was also held during the event between YBhg. Dato’ Paduka Syed Isa Syed Alwi, Managing Director/Founder of Algaetech International Sdn Bhd (ALGAETECH) and YBhg. Dato' Ir. Hj. Mohd Azman Haji Shahidin, President/CEO of Technology Park Malaysia Corporation Sdn Bhd (TPM).

    TPM and ALGAETECH will enter in to a Sub-Lease Agreement for the sublease of approximately 5.103 acres of land in Phase 1 Technology Park Malaysia Bukit Jalil for the purpose of developing a facility for Haematococcus Pluvialis Cultivation.

    With the Astaxanthin facility at the nation’s disposal, Algaetech will be able to attract global PhD holders to ply their trade in Malaysia and nurture young and enthusiastic biotechnologists. The biotech industry will be further boosted with the completion of this facility and will pinpoint Malaysia as a leading algae player. With the facility in full production, Algaetech is targeting annual revenues of RM 22 million from 2015 onwards ‘from the total investment of RM 27 million, a sum which has been largely contributed by Algaetech’s project financier Malaysia Debt Ventures.

    “We are extremely grateful and thankful to Biotechcorp, TPM and especially MDV for their support and contributions in making this project a reality” quoted YBhg. Dato’ Paduka Syed Isa Syed Alwi.

    “MDV has always been a supporter of technology breakthroughs. As the Nation’s leading technology financier, we welcomed efforts by tech companies from various technology sectors for greater utilisation that benefit the people," said Datuk Md. Zubir Ansori Yahaya, Managing Director and CEO of MDV.

    "Algaetech’s initiative in developing and shaping the algae industry in Malaysia is one of the best examples. Being a financier to this microalgae project, MDV sees the potential and demand from the market, and highly believes that it will be successful and provide great benefits, besides drawing further investments towards developing the country’s economic growth,” commented Datuk Md. Zubir further.

    Prior to this event was on the 28th October 2013, Algaetech International Sdn Bhd held a Ground Breaking Ceremony which was officiated by MOSTI (The Ministry of Science, Technology and Innovation) Minister YB Datuk Dr. Ewon Ebin for the construction of a biomass project to produce a microalgae known as “Haematococcus Pluvialis” for the global market.

    What do you think of this story?

    Select one of the options below. Your feedback will help tell CNN producers what to do with this iReport. If you'd like, you can explain your choice in the comments below.
    Be and editor! Choose an option below:
      Awesome! Put this on TV! Almost! Needs work. This submission violates iReport's community guidelines.

    Comments

    Log in to comment

    iReport welcomes a lively discussion, so comments on iReports are not pre-screened before they post. See the iReport community guidelines for details about content that is not welcome on iReport.

    Add your Story Add your Story