ZAGREB (Croatia), May 23 (SeeNews) - The Croatian supplier of ingredients for the pharmaceuticals sector Phyox has invested 6.6 million euro ($7 million) in capacities for production of micro-algae in the town of Novska, eastern Croatia, the Vecernji List daily reported on Monday.
It aims to produce and export 40 tonnes of micro algae annually for the needs of pharmaceuticals industry, the daily reported.
If the new facility reaches annual production of 50 tonnes, we would become Europe's top producer of micro-algae, Vecernji List quoted Franjo Oreskovic, head of the company's supervisory board, as saying.
An e-mail from SeeNews seeking further comment from Phyox went unanswered by the time this story was published.
The micro-algae or phytoplankton are microorganisms that produce oxygen through photosynthesis, Oreskovic explained.
The company will start commercial production of phytoplankton next month in Novska's industrial zone.
Phyox has been set up by four German and Croatian business partners. CEO of the company is Bernd Herrmann, an innovator who created the technology for production of micro-algae and patented it, Vecernji List said.