AlgaEnergy and Krishi Rasayan Group Announce a Joint Venture, AgMA Energy, to Bring New Agricultural Solutions for key Asian Markets

NEW DELHI, May 20, 2019 /PRNewswire/ --

AlgaEnergy's wholly-owned subsidiary in India, 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 in India, AgMA Energy Pvt. Ltd.

AgMA Energy, with headquarters in Delhi, India, has been established to develop a world-class crop agriculture & 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 to India, a number of countries in Asia and elsewhere, giving the joint venture an international market presence.

A cornerstone in the foundation of AgMA Energy is the unique technologies and products based on microalgae solutions developed by AlgaEnergy S.A., a Spanish biotechnology company with over a decade of effort creating natural biological solutions for a variety of markets, including biostimulants for crop agriculture and animal nutrition products for a variety of sectors including aquaculture. The AlgaEnergy product portfolio and pipeline contributed to AgMA Energy is complemented by the best-in-class manufacturing expertise and capabilities, and the market reach, of the KREPL Group.

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 help develop sustainable agricultural programs across very important 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's our 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 in India as 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."

About AlgaEnergy 

AlgaEnergy is a biotechnology-based company specialized in the science of microalgae. The company consolidates over 4 decades of state-of-the-art knowledge related to microalgae, generated by the main specialized universities, and has invested millionaire resources in applied R&D, positioning itself as the main international reference in this field. AlgaEnergy's mission is to develop and commercialize innovative high-quality products derived from microalgae, targeting specific needs in different industries.

In the agricultural sector, after 10 years of research and development, AlgaEnergy launched its brand AgriAlgae^®, a range of high quality biostimulants combining different microalgae species grown at AlgaEnergy's cutting edge facilities, whose effectiveness in terms of increasing yields and improving qualities is demonstrated by numerous independent field trials.

For more information about our activities, R&D projects, technology and facilities, and products, please visit http://www.algaenergy.com

For more information about our agricultural products based on microalgae AgriAlgae^®, please visit http://www.agrialgae.com

About Krishi Rasayan Group 

Agrolife Science Corporation is a part of Krishi Rasayan Group. Krishi Rasayan Group was established in the year 1966 and is now the 7^th largest agrochemical company in India. The company has 8 manufacturing plants located in different parts of the country. Krishi Rasayan Group strives continuously for the Prosperity of Mankind and fulfilling farmer needs. With vast experience, we have products geared up not only for the country's needs but also to meet the global challenges. The motto of the group is "Farmer's Prosperity is our priority".

The company is involved in Agrochemicals, Biotechnology, IT Infrastructure, Solid Waste Management, Inland Transport, Poultry Feed, Pest Control, Real Estate, R&D and Contract Research and Data Generation. It has 22 marketing offices in the country and international offices in Hongkong, Shanghai, Bangladesh, Dubai and Australia.

The Krishi Rasayan Group has over 1,600 employees and an annual turnover in excess of INR 1850 Cr (300Mn USD).

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