DIC Corporation (TOKYO:4631) has completed investment in Vaxa Technologies Ltd., a biotech startup headquartered in Rosh Pina, Israel, as part of a strategic expansion of DIC businesses around health food and other algae-derived products.

Vaxa Technologies possesses unique proprietary light-emitting diode (LED) illuminated photobioreactors and algae cultivation technologies and is engaged in the development and commercialization of clean, unparalleled high-value-added algae products. Vaxa Technologies’ cultivation process employs renewable energy, achieving excellent productivity while consuming significantly less land and fresh water than conventional cultivation methods. This process also converts discharged CO2 into useful materials, making the process carbon negative and thus highly sustainable.

The new deal with Vaxa Technologies adds to growing DIC biotech startup investments and collaborations, enhancing DIC’s algae and other microbial biotechnologies, while strengthening related businesses.

DIC expects this latest investment—combining DIC’s extensive algae expertise with Vaxa Technologies’ superb algae cultivation technology—to enhance DIC’s ability to develop and market products that contribute to the realization of a healthier and more sustainable world.

About DIC Corporation

DIC Corporation (DIC) is one of Japan's most diversified fine chemical companies and the heart of the DIC Group. Worldwide, the DIC Group encompasses over 170 subsidiaries, including Sun Chemical Corporation, across 60+ countries. The DIC Group portfolio is organized into three segments: Packaging & Graphic, Color & Display, and Functional Products notably for electronic, automotive, and building materials. The DIC Group is constantly working to promote and develop sustainable solutions to exceed customer expectations and better the world around us. With combined annual sales of more than $7 billion and 22,000+ employees worldwide, DIC Group companies support a diverse collection of global customers. Please visit https://www.dic-global.com/en/ for more details.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210427006219/en/