SOURCE: Heliae


August 20, 2014 19:15 ET

Heliae Accelerates Efforts to Expand Commercialization Opportunities

Leadership Changes Coincide With Increased Focus on Further Technical Development and Scale-Up

GILBERT, AZ--(Marketwired - Aug 20, 2014) - Heliae, a leader in the development of advanced algae production technologies, announced a new phase of technical development and commercialization at the company. With a well-established nutraceutical strategy, supported by the company's first production facility, Heliae will now transition resources to complete other technical and commercial targets, including agroscience and advanced animal nutrition markets. As part of this planned shift, Dan Simon will step down as President and CEO. J. Craig Johnson, Heliae's current CFO, has been appointed as interim-CEO.

"Heliae has quietly come a long way in my four years at the company, from pilot through a demonstration phase to our first commercial facility, which has operated for almost a year. I'm proud of all that we've accomplished but there is much more to do," said Dan Simon. "I will remain active in an advisory role and as a shareholder and will continue to support the success of the company as it moves to this next phase of commercialization."

In the last year, Heliae established its first commercial facility in Gilbert, Arizona, which employs a world-class team of biologists, biochemists, and engineers. The company has also expanded its global footprint through a future joint venture located in Japan to develop a commercial algae production facility to produce nutraceutical products from algae.

"As we mapped out the company's next few years, it was time to reallocate resources and start organizing the company for its next set of challenges," said Craig Johnson, CEO of Heliae. "This next year will bring greater technical focus and scale and I'm eager to continue the momentum we've built since I joined the company 3 years ago. We have far more demand for Heliae's algal products than we produce today, so we are confident in our efforts to accelerate the commercialization of these additional production platforms."

"This is an exciting time at Heliae. With each production run, we learn something new and continue to refine our technical parameters. Algae is not easy, but we are eager to enter this next phase and support the momentum that has been built over the last few years," said Frank Mars, Co-founder and Executive Chairman of the Board of Heliae. "We appreciate Dan's contribution to the company in bringing the technology from concept to reality, and assembling a dedicated and experienced leadership team to realize our vision. We now look to our technical and commercial teams, led by Craig Johnson, to hit the next set of milestones on the path to commercialization and scale."

As part of this transition Heliae is pleased to report the addition of Eric Lichtenheld as Vice President of Operations. Eric delivers over 30 years of development and manufacturing expertise and replaces Adrian Galvez in all operational aspects of the company.

About Heliae
Heliae® is a platform technology company that uses sunlight and low-cost carbon feedstocks to produce high-value products from algae. Based in Gilbert, Ariz., Heliae is leveraging its core production technology into four target markets: personal care, nutrition, therapeutics, and agrosciences. With a seasoned management team and world-class science, Heliae is advancing the future of the algae industry by delivering novel algae-based products to dynamic markets around the world.