Cyanotech Corporation Overview
Company Headquarters: US
Founded: 1940
Workforce: ~ 5,078
Company Working: Cyanotech Corporation is an agricultural company that is engaged in producing natural products derived from microalgae grown in Kona coast of Hawaii. The Company's products include Hawaiian Spirulina Pacifica and BioAstin Hawaiian Astaxanthin. Its Hawaiian Spirulina Pacifica is a dietary supplement used for extra energy, a strengthened immune system, cardiovascular benefits and as a source of antioxidant carotenoids, and overall cellular health. Its BioAstin Hawaiian Astaxanthin is an antioxidant shown to support and maintain the body's natural inflammatory response to enhance skin, and to support eye, joint and immune health. Its Hawaiian Spirulina Pacifica is produced in two forms: powder and tablets. Its products are sold as consumer-packaged goods through natural products distributors, retailers and online channels, and direct to consumers, primarily in the United States, as well as in bulk form to manufacturers, formulators and distributors worldwide.
Nutrex Hawaii came to life in Kailua-Kona, Hawaii and is the brain child of Cyanotech’s founder, Dr. Gerald Cysewski. From a small company that started off with a sales team of two, to growing into a company with the world’s most recognized brands of spirulina and astaxanthin, Nutrex Hawaii products are sold in over 66 countries including mass market retailers in the US. Nutrex Hawaii produces two finished goods products, Hawaiian Spirulina® and BioAstin® Hawaiian Astaxanthin®.
Strategy
Cyanotech is well supported by its robust in-house R&D facilities. Innovation-based strategies enable the company to stay abreast of the changes in the industry and provide it the ‘first mover’ advantage by launching products ahead of the competition and delivering advanced products and services to its customers. The company’s R&D activities focus on developing efficient, stable, and cost-effective production systems for microalgal products. It investigates specific microalgae identified in the scientific literature for developing marketable products and technology for growing such microalgae on a commercial scale. The company also focuses on the development of procedures and technology for improving production stability and efficiency. . In FY2021, it incurred expenses of US$0.63 million on R&D activities, which as a percentage of revenue, stood at 2%.
