Cellana was exclusively advised by Vista Partners in concluding this transaction.
About Cellana's ReNew Algae and ReNew Fuel
Whole algae biomass consists of natural oils, proteins, sugars, minerals, and other micronutrients that can make valuable feedstocks or supplements for human nutrition, animal feed, and biofuel applications. Cellana's patented ALDUO process has produced over 20 metric tons (dry weight) of whole algae biomass to date, branded ReNew Algae, from a diverse variety of carefully selected, non-GMO microalgae strains. These industrial-scale quantities of ReNew Algae, and their valuable components, have been tested by Cellana and potential customers in all three of the following key application areas:
ReNew Fuel. Cellana's ReNew Fuel consists of fuel-grade crude oils that are extracted from ReNew Algae. ReNew Fuel has been successfully tested by major energy companies, as well as by large-scale producers and refiners of petroleum-based fuels and biofuels from crop-based feedstocks. Algae-based biocrude applications provide renewable, sustainable, and economic feedstock alternatives for transportation fuels, particularly jet fuels for commercial and military aircraft.
ReNew Omega-3. Cellana's ReNew Omega-3 consists of high-value Omega-3 nutritional oils that are extracted from ReNew Algae, primarily EPA and DHA. These Omega-3 oils are essential fatty acids that are made naturally only by algae from marine sources. Cellana's ReNew EPA and ReNew DHA products enable producers to Cut Out The Middle Fish and supply renewable, more sustainable, and vegetarian Omega-3 products without contributing to potential overfishing or exposure to fish-based pollutants such as mercury, dioxins, and PCBs. Product samples are currently being evaluated by potential customers in the nutraceutical and functional food industries.
ReNew Feed. Cellana's ReNew Feed consists of the high-protein algae meal that remains after oils have been extracted from ReNew Algae. ReNew Feed leverages algae's ability to provide an alternative, more sustainable, high-protein feed source for the aquaculture and animal feed markets. Multiple large-scale feeding trials for finfish, shellfish, pigs, chickens, and cattle, among other species of farmed animals, have been successfully completed or are underway in the United States, Europe, and Asia, involving more than 5 metric tons of ReNew Feed. This collectively represents one of the largest and most extensive set of feeding trials involving algae meal ever conducted in the world.
Cellana, a leading developer of algae-based bioproducts, uses the most productive plants on earth -- marine microalgae -- to produce its ReNew line of Omega-3 EPA and DHA oils, animal feed, and biofuel feedstocks. Cellana's patented ALDUO system enables economic, sustainable and consistent production of photosynthetic, non-GMO algae at industrial scale. Cellana intends to construct and operate commercial facilities to produce these products as integrated algae-based biorefineries. To date, over $100 million has been invested in developing Cellana's algae strains, patented and proprietary production technologies, and its Kona Demonstration Facility. Further information is available at: www.cellana.com.
About Neste Oil
Neste Oil Corporation is a refining and marketing company concentrating on low-emission, high-quality traffic fuels. The company produces a comprehensive range of major petroleum products and is the world's leading supplier of renewable diesel. Neste Oil had net sales of EUR 17.9 billion in 2012 and employs around 5,000 people, and is listed on NASDAQ OMX Helsinki.
Cellana®, the Cellana logo, the ReNew logo and other trademarks or service names are trademarks of Cellana, Inc. Neste Oil and NExTBTL are trademarks of Neste Oil Oyj.
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