AlgaEnergy's wholly-owned subsidiary inIndia, MicroAlgae Solutions India Pvt Ltd(MASI), and Krishi Rasayan Export Pvt Ltd's (KREPL) sister concern, Agrolife Sciences Corporation (ALSC), have formed a 50-50 joint venture inIndia, AgMA Energy Pvt. Ltd.

 

AgMA Energy, with headquarters inDelhi, India, has been established to develop crop agriculture and aquaculture business and platform, that will deliver new and innovative solutions and services based on the intersection of biological, microbial and chemical approaches.

 

The key markets of initial focus for AgMA Energy include, in addition toIndia, a number of countries inAsiaand elsewhere, giving the joint venture an international market presence.

 

Douglas Ry Wagner, President of International Agribusiness for AlgaEnergy, stated, “The AgMA Energy joint venture brings together two outstanding organizations dedicated to delivering the most innovative products possible to helpdevelop sustainable agricultural programs across veryimportant regions of the world.The synergies between AlgaEnergy and Krishi Rasayan Group are uniquely strong and offer an exciting opportunity to create new insights and products for farmers that otherwise may not have been realized without the collaborative efforts of the JV.”

 

Augusto Rodríguez-Villa, President and CEO of AlgaEnergy S.A.,stated, “On behalf of the shareholders and staff of AlgaEnergy, I wish to express our full confidence and appreciation of the common vision for the future of agriculture that we share with our colleagues from Krishi Rasayan. Bringing together two great organizations through the creation of AgMA Energy will allow us to rapidly deliver the power of AlgaEnergy's technology and natural products across many regions of the world.AlgaEnergy will continue in innovate to create the best natural products possible, and with the strength and market reach of this JV, we look forward to creating long-term value for farmers by providing best-in-class sustainable biological products.”

 

Rajesh Agarwal, Executive Director of Krishi Rasayan, stated, “It'sour great pleasure to be associated with AlgaEnergy and its exciting technology.With the establishment of AgMA Energy, we will surely create a new landscape in the biostimulant sector as well as in the overall agricultural space inIndiaas well as globally. This JV will offer a variety of environment friendly crop care solutions to our farmers and thus will be an important initial step towards improving organic agriculture. KREPL (Krishi Rasayan) and ALSC will contribute through its strong farmer base, and its extensive domestic & global distribution network. I am sure we will touch many lives for a greater reason with this technology through the success of AgMA Energy in the years ahead.”

The key markets of initial focus for AgMA Energy include, in addition to India, a number of countries in Asia and elsewhere, giving the joint venture an international market presence.