GLOBAL ECOPOWER (EPA:ALGEP) GEP : Acquisition of strategic assets by GEP to consolidate and ramp up spirulina and phycocyanin production

Transparency directive : regulatory news

07/07/2020 19:17

PRESS RELEASE
Meyreuil (France), 7 July 2020

Acquisition of strategic assets by GEP to consolidate and ramp up spirulina
and phycocyanin production

The French specialist in positive renewable energy production units, Global
EcoPower (FR0011289198 - ALGEP) has purchased all of TAM's spirulina production
and marketing assets. TAM was the leading producer of spirulina in France
through the CYANE trademark.

With the forthcoming launch of its Spirulina production unit in Hers
(Payra-sur-l'Hers) and Spiruline d'Anjou (Bourgneuf en Mauges), which will
supply photovoltaic energy to the production of micro-algae food, GEP will be
able to quickly position itself as the European leader in the production of
premium spirulina and phycocyanin, two global markets estimated at 1 billion*
euro and 100 million* euro respectively in 2030.

GEP is acquiring TAM's spirulina production facilities, its business assets
including the list of clients and prospects, its ISO 22000 certification for
ecological microalgae cultivation, its expertise and the CYANE brand.

Jean-Marie Santander, Chairman and Chief Executive Officer of Global EcoPower,
said: "The acquisition of TAM's business assets is an excellent opportunity for
GEP, which will be able to ramp up its presence in the spirulina market with
the aim of becoming the European leader in high end spirulina production and
the extraction of phycocyanin in France."

TAM had developed the first unit in France for organic greenhouse cultivation
and the marketing of spirulina and the recognised brand CYANE, reputed for the
quality of its high-end spirulina produced in France. The Covid-19 crisis has
forced the company's management to refocus on its core business, which is
tomato farming.

GEP anticipates a new European regulation due to take effect in 2021 which will
classify the purity of products such as spirulina and phycocyanin, highlighting
the high-quality organic spirulina compared to the low-end products from
Asia.

The spirulina and phycocyanin markets continue to show steady growth, with
consumption in Western Europe expected to total 2,810 tonnes per year of
spirulina and 37 tonnes of phycocyanin by 2023.

Global EcoPower aims to produce 40 tonnes of spirulina per year at each of its
sites (Spiruline de l'Hers and Spiruline d'Anjou). Management will decide on
the amount of phycocyanin that will be produced in line with demand and based
on an extraction rate of around 15%.

*Reference: Roland Berger Report

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, photovoltaic and biomass as energy sources. GEP has a presence across the
value chain, from construction to power plant operations. So far, 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 (southern France), combining green energy and spirulina
production. This complex not only enables the production site to be fully
self-sufficient in terms of its energy needs, but it can also produce surplus
power, which will have a significant positive impact on operating
profitability. A second facility 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
Jean-Marie Santander
Chief Executive Officer
contact@global-ecopower.com
+ 33 (0)9 72 62 47 29

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

HOPSCOTCH Europe
Emilie Langlade
Press Relations
elanglade@hopscotch.eu
+ 33 (0)1 41 34 20 94

GLOBAL ECOPOWER's latest news

07/07/2020 19:17

GLOBAL ECOPOWER (EPA:ALGEP) GEP : Acquisition of strategic assets by GEP to consolidate and ramp up spirulina and phycocyanin production

Transparency directive : regulatory news

GLOBAL ECOPOWER's latest news

Other stories