February 11, 2017

Cellana and Living Ink Enter into a Joint Development and Offtake Agreement for Sustainable Algae Inks

Living Ink Technologies

DENVER and KAILUA-KONA, Hawaii, Feb. 7, 2017 /PRNewswire/ — Cellana, Inc., a leading developer of algae-based products for sustainable nutrition and energy applications, and Living Ink Technologies today announced that they have signed a letter of intent for the joint development and commercialization of inks containing Cellana’s renewable algae biomass. Living Ink’s sustainable algae-derived ink is 100 percent plant-based, renewable and biodegradable. The majority of the ink is algae, turned into ink, and applied to paper. This novel ink will replace conventional ink that uses petroleum products and other finite chemicals, most of which are toxic.

Currently, Cellana produces industrial-scale quantities of ReNew™ Algae — high-value algae biomass rich in Omega-3 nutritional oils, proteins, pigments, fuel-grade oils, cosmetic-grade oils, acids and polysaccharides, as well as other valuable micronutrients — at its Kona Demonstration Facility in Hawaii. Cellana will supply Living Ink with whole algae biomass from its Kona Demonstration Facility, and Living Ink will formulate inks and be the route to market. Financial terms of the agreement were not disclosed.

“Living Ink has a unique position to use algae in a high-value application, making use of the inherent sustainability of our Hawaii-produced material,” stated Martin Sabarsky, Cellana’s chief executive officer. “This innovative use of algae to replace traditional, petroleum-based and often toxic ink components is a win-win-win for the ink and algae biomass industries, consumers and the environment,” continued Mr. Sabarsky.
“Cellana is a leader in growing diverse algae outdoors using sunlight, seawater and CO2, and we are excited to find a commercial source of sustainably grown algae to fuel the expansion of our company and industry,” stated Scott Fulbright, Ph.D., co-founder and chief executive officer of Living Ink. “This new commercial relationship will help accelerate Living Ink’s product development and business development initiatives to produce and sell a range of different renewable inks and print products containing renewable ink,” continued Dr. Fulbright.

About Cellana

Cellana, Inc., a leading developer of algae-based bioproducts, uses the most productive plants on earth — marine microalgae — to photosynthetically produce its ReNew™ line of Omega-3 EPA and DHA oils, animal feed/food, and biofuel feedstocks. Cellana’s patented ALDUO™ system enables economic, sustainable, and consistent production of photosynthetic, non-GMO algae at industrial scale. Cellana intends to construct and operate commercial facilities to produce these products as integrated algae-based biorefineries.  Further information is available at: www.cellana.com.

About Living Ink Technologies

Living Ink Technologies is an innovative biotechnology company using cyanobacteria and algae for commercialization ink products to make the world more sustainable and safer. For more information, visit www.livinginktechnologies.com.

Note: ALDUO™ and ReNew™ are trademarks of Cellana, Inc.