May 30, 2013
Alltech aims for US$4 billion turnover through algae product
Alltech is aiming high and expects to quadruple its turnover from US$1 billion now to US$4 billion in the next few years. And a large part of this is forecast to come from the production and sale of Docosahexaenoic acid (DHA).
DHA is the key component of fish oil derived from microalgae in the fish diet, which is included in animal feed production.
In China, Alltech is aiming to grow its sales from US$50 million now to US$500 million within four years. Dr Mark Lyons, the son of the founder and president of Alltech's China operations, presented an upbeat picture of how Alltech's algae production technology can make a contribution to the world's demands for DHA by 2020.
The current algae plant in Kentucky, he said, has a capacity of 15,000 tonnes of DHA per year but the world demand for DHA is over 1 million tonnes per year. Alltech, according to both Dr Lyons, expects to be playing a key part in a worldwide expansion of algae and DHA production in the next 5 years.
This three-day symposium at Lexington during 19-21 May 2013 was packed full of events and experts, and serious opportunities for networking by the participants. With 2347 attendees from 72 countries and 46 US states, it is easy to imagine that the Alltech Symposium was a busy event, but these numbers present only part of the picture.
A galaxy of international speakers discussed on subjects as diverse as; nutrigenomics, algae production and developments in mycotoxin science to the latest developments in understanding microRNA - a key driver of human development and metabolism.
Dr Pearse Lyons, the founder and President of Alltech, had organised his team to provide the symposium attendees with a tour of the Alltech brewery and algae plant, an international dinner, examples of world class singing talent from students who benefit from the Alltech singing scholarships (including songs from the Marriage of Figaro), a Kentucky country and western supper and dance at the Alltech horse arena,
