38,000sqm facility in Al Ain will capture up to 1,000MT of carbon dioxide annually
Khalifa Economic Zones Abu Dhabi–KEZAD Group and Astha Biotech, a UAE-based investment and development company, today signed a lease agreement for a new facility in KEZAD Al Ain.
The agreement, signed at the ‘Make It In The Emirates Forum 2024’, will witness the launch of the first UAE company focused on the production of microalgae with high-value applications across the health, cosmetics, food, and aquaculture industries with an initial investment from Astha Biotech of AED 44mn (US$ 12mn).
The Astha Biotech facility, which will spread over 38,000sqm, will capture up to 1,000 MT of carbon dioxide annually, using carbon from local industries to grow microalgae. It will hire and train a team of 30 highly skilled personnel for the microalgae production unit and the laboratory.
Infrastructure
“At KEZAD Group, we are developing new enabling infrastructure for companies to further improve their sustainable practices, including transitioning to a greener economy,” commented Mohamed Al Khadar Al Ahmed, CEO, Khalifa Economic Zones Abu Dhabi–KEZAD Group.
“Our project is in-line with our values where we aim at translating our will to seek out new solutions to deal with the challenges of organic dietary nutriments and the contribution to the environment decarbonisation,” remarked Zouheir Bensaid, CEO, Astha Biotech Group.
Astha Biotech will use carbon dioxide emissions accumulated from local industries in its cultivation facilities as a carbon source for the growth of the microalgae. The new entity aims to capture up to 1,000 metric tonnes of carbon dioxide annually, surpassing the carbon sequestration capacity of forests or corn fields, a press communique concluded.
