January 11, 2023

AlgiSys selected by Saudi Arabia's KAUST for Destination Deep Tech Program

AlgiSys BioSciences, Inc. is one of only 11 companies selected from a large global pool of companies, to participate in Saudi Arabia's KAUST Destination Deep Tech Program.

Working at KAUST with some of the world's leading Algae experts, AlgiSys will continue to develop groundbreaking applications for its world-leading algae technology. With KAUST sponsorship, AlgiSys will be showcasing its technology at the LEAP Venture Capital conference in early February.

Dr. Charles Roe, founder and chief technology officer of AlgiSys, will be based at KAUST in Saudi Arabia over the next three months.

"We're excited to be a part of the KAUST and benefit from the amazing resources KAUST has to offer," Dr. Roe said. "Our plan for the kingdom is to build a manufacturing plant in line with the food security goals of the kingdom's Vision 2030. Being at KAUST will enable us to build strong local partnerships."

AlgiSys' plans on building a $75 million fermentation production facility in Saudi Arabia to produce not only its EPA Omega-3, plant protein but also a superior strain of DHA Omega-3. The plant will create local employment and target exports for the Middle East and Europe.

Initially, AlgiSys will target the aquaculture and feed markets, followed by entry into other vertical markets including pharmaceuticals, human nutrition and cosmetics.

The three-month King Abdullah University of Science and Technology (KAUST) Destination Deep Tech programme provides deep tech startups with everything needed to explore technology and business opportunities in Saudi Arabia.

Through digital and in-person sessions at KAUST, companies can explore the Saudi market and startup ecosystem, connect to world-renowned researchers, and leverage KAUST's unique infrastructure and technology expertise.

- Merchant-Edge