GLOBAL ECOPOWER (EPA:ALGEP) Global EcoPower is launching a new spirulina production and phycocyanin extraction complex in Maine et Loire

Transparency directive : regulatory news

18/06/2020 19:06

PRESS RELEASE
Meyreuil (France), 18 June 2020

Global EcoPower is launching a new spirulina production and phycocyanin
extraction complex in Maine et Loire

Global EcoPower (FR0011289198 - ALGEP) will build a spirulina production unit
with a capacity of 40 tonnes a year along with a phycocyanin extraction
facility in Maine et Loire. GEP has selected Banque Populaire Grand Ouest
(BPGO) to oversee syndicated funding for the complex, for which the latter has
already delivered a term sheet setting out the terms of an EUR11 million loan.

Jean-Marie Santander, Chairman and Chief Executive Officer of Global EcoPower,
says:

"This operation forms part of GEP's strategy to develop a new Green Energy
Business that combines renewable energy with energy-based
environmentally-friendly culture. We are leveraging our expertise for projects
like spirulina and phycocyanin that create substantial value. The
Payra-sur-l'Hers project currently being built is a crystallisation of this new
impetus and we are delighted to launch a second operation which we expect to
rank GEP as a leading producer of spirulina and phycocyanin in Europe."

In May 2019, GEP acquired SARL Verger des Marottières, a company located in
Bourgneuf en Mauges (49 - Maine-et-Loire) which holds a 20-year agriculture
lease on 48,000 m2 of photovoltaic greenhouses, already built by GEP.

The Group will use this site for the culture of spirulina and the extraction
of premium phycocyanin as a food supplement. The project will generate several
jobs for its construction and operation.

The overall investment budget, which will be borne by SARL Verger des
Marottières, stands at EUR15 million, of which EUR11 million is to be financed
by a banking pool led by BPGO. The work will begin in the second half of 2020
once the financing has been secured.

This new production unit will strengthen GEP's positioning in France's high-end
organic spirulina market. The Bourgneuf en Mauges site will complement the
Payra-sur-l'Hers site currently under construction.

The spirulina market shows average annual growth of 10%, with annual
consumption in France of around 500 tonnes; production is highly fragmented,
comprising many local players that cover scarcely 10% of domestic
requirements.

GEP aims to rapidly become the benchmark player in high-quality spirulina and
phycocyanin production in France.

What is spirulina?

Spirulina is a blue-green algae from the cyanobacteria family that led to life
on the planet. It is exceptionally rich in protein, carbohydrate, trace
elements, vitamins, and other nutrients. It is highly sought after by food
supplement and agri-food players for its properties and benefits, in particular
French spirulina which is of higher quality than spirulina from Asia.

What is phycocyanin?

Phycocyanin is the blue pigment found in spirulina. Classified as an
antioxidant, it is sought after for its health benefits and its capacity to
regenerate the metabolism. More than 300 international scientific studies have
demonstrated the health benefits of phycocyanin in humans and its antioxidant
and immunostimulating properties.

About Global EcoPower:

GEP is a key player in the green industry, with two business lines:

* Its historical business is the construction of renewable power plants using
wind, photovoltaics and biomass as energy sources. GEP has a presence across
the value chain, from construction to power plant operations. It has built and
commissioned more than 10 power plants, representing over 150MW in installed
power capacity.

* A new higher value-added activity building and developing Green Energy
Business complexes, including an eco-business consuming high amounts of
energy.

GEP is currently in the process of building France's first "algo-solar" complex
in Payra-sur-L'Hers (Aude), combining green energy and spirulina production,
with a view to extracting phycocyanin. This complex not only enables the
production site to be fully self-sufficient in terms of its energy needs, but
it can also produce a surplus of power, which will have a significant positive
impact on operating profitability. A second operation in Anjou is currently in
the process of financing.

GEP is listed on the Euronext Growth stock exchange in Paris (ISIN code:
FR0011289198 - Ticker: ALGEP). The company is eligible for the SME personal
equity plan (PEA-PME).

The Green Energy Business in a few words...

As part of the ecological transition process, the Green Energy Business refers
to the combination of green energy production with environmentally-friendly
industrial activity, as part of the circular economy, so as to minimise
environmental impact. The Green Energy Business involves the construction of
positive green energy complexes which ensure a sustainable cost price of green
products by consuming the energy they produce.

GLOBAL ECOPOWER

Philippe Perret
Deputy Chief Executive Officer
contact@global-ecopower.com
+33 (0)4 42 24 50 16

ACTIFIN

Christophe de Lylle
Financial Communication
cdelylle@actifin.fr
+33 (0)1 56 88 11 11

ACTIFIN

Aminata Doucouré
Press Relations
adoucoure@actifin.fr
+33 (0)1 56 88 11 23

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