FORT COLLINS — Solix Algredients Inc. in Fort Collins is merging with the Beijing Gingko Group in China and its subsidiary, Algae Health Sciences in California, to supply ingredients sourced from nature to the nutrition, food and beverage, personal-care and feed markets.
The new company that has yet to be named will be headquartered at 120 Commerce St. in Fort Collins, home of Solix Algredients, according to new-company spokesman Harvey Chimoff.
Member-owned not-for-profit Elevations Credit Union has a new branch in Midtown Fort Collins, featuring business bankers, commercial lenders and more.
Chimoff declined to say how many employees will work at the new privately held company, but the headquarters will house sales, marketing, research and development, analytical and quality-management personnel.
Next steps include developing a Colorado-based, production-scale plant for carbon-dioxide extraction of natural astaxanthin and other products.
The new company’s natural extract ingredients originate from algae, fruits and plants. The product range features patented technologies and ingredients with consumer benefits, the company said in a prepared statement.
The portfolio includes natural astaxanthin, DHA Omega-3 fatty acids, Vitamin E tocotrienols, apple polyphenols and fruit/berry extracts.
Austin Maguire, president and chief executive of Solix Algredients, and Chunhua Li, founder of BGG, will be co-chairmen of the new company.
“When I founded BGG, my goal was to make it easier for consumers to manage their personal health and wellness,” Chunhua said. “I am thrilled that our new company strengthens our leadership role in natural antioxidants while expanding our capabilities into new markets and applications.”
Prior to joining Solix Algredients, Maguire was president of Calera Corp., and earlier, he was president of Tate & Lyle Sucralose, where he led the Splenda artificial-sweetener business unit.
Charlie Bowman, chief commercial officer of Solix Algredients, is the managing director of the new company. Bowman has expertise in biotechnology, microalgae and hydrocolloids from leadership roles at CP Kelco, Solazym and Cargill.
“Our portfolio of natural extract, functional ingredients is well-aligned with current and emerging consumer demand,” Bowman said. “We are strongly positioned to support our global customers’ business and marketing strategies, and are excited to work together.”