Fermentalg passes the €1 million mark in turnover 22nd October 2019

The French microalgae specialist Fermentalg announced on October 10th that its turnover had exceeded €1 million by the end of September. Since the beginning of the year, Fermentalg has generated a total of €1.1 million (compared to €0.2 million for the same period in 2018), including €0.7 million in revenues from DHA Origins, the omega-3-rich algal oil. The company also has new firm orders for an additional €0.8 million to be delivered in the coming months. On September 30th, the company's gross cash position was €8.4 million, compared with €9.7 million at the end of the first half of 2019 and €12.5 million at the end of 2018. This variation is explained by the completion of a €400k loan concluded in June 2019 with Bpifrance to finance the industrial development of the Omega-3 platform. Read full article (in french only)