Fermentalg records record turnover of €6.3 million in the first half of 2024

Libourne – July 4, 2024 – Fermentalg (Euronext Growth / ALGAE) announced its unaudited results for the first half of 2024, marked by a turnover of €6.3 million, an increase of 170% compared to the first half. 2023. This performance is explained by solid commercial momentum, particularly in North America.

The company also raised its annual turnover target to €12 million, three times more than in 2023. This growth is supported by the diversification of activities, including food supplements and petfood, and the consolidation of new client relationship.

At the industrial level, Fermentalg has strengthened its partnership with HuvePharma. The latter became a key shareholder by investing €7.5 million, thus allowing the raising of €12.8 million in equity. Industrial production initiated in spring 2024 will continue this summer.

These advances consolidate Fermentalg's position as a European leader in sustainable microalgae-based solutions, with a positive outlook for the second half of 2024.