Aker BioMarine

Regulatory Filings • Dec 8, 2023

Aker BioMarine receives purchase order for algae-based omega-3 oil

Aker BioMarine receives purchase order for algae-based omega-3 oil

8 December 2023: Aker BioMarine has received purchase orders of USD 6.0 million for Algae based Omega-3 Oils (for human consumption) with a gross margin similar to Superba. Delivery will be throughout 2024. The Algae Oil will be produced in the company’s factory in Houston, where we have built a dedicated production line which is on stream.

“This is a great example of how we can use the skills and expertise in our Houston production facility as a platform to grow into new product lines. We have great synergies from both our existing equipment and teams, which enables expansion into algae oil with limited additional costs. The move into algae oil is exciting, especially given the current pressure on fish oil prices.”, said Matts Johansen, CEO of Aker BioMarine.

The current order book represents the total annual production capacity for algae oil in Houston in 2024, and the company has consequently taken a strategic decision to increase the algae oil production capacity around fivefold. This expansion will require limited investments as the company will utilize existing infrastructure in Houston. Estimated time to completion is 12-18 months.

According to GOED Ingredient Market Report 2023, the total market for algae-based omega-3 oil was USD 274 million (5,327 MT), of which dietary supplements was USD 82 million (1,213 MT), in 2022. The average growth rate in volume until 2025 is expected to be 10%.

For further information, please contact

Christopher Robin Vinter, VP IR & Corporate Finance

Mobile: +47 911 60 820

Email: Christopher.vinter@akerbiomarine.com

About Aker BioMarine

Aker BioMarine is a leading biotech innovator and Antarctic krill-harvesting company developing krill-derived products for consumer health and wellness as well as animal nutrition. The company has a strong position in its industry and is the world's leading supplier of krill, the natural, powerful and health promoting source of nutrients from the pristine waters of Antarctica. Aker BioMarine is listed on Oslo Stock Exchange (AKBM). More information is available at www.akerbiomarine.com.