Monday, January 25, 2010

Big News for Local Biz

Martek Biosciences and New Generation Biofuels both have their corporate headquarters in Columbia, and both have good news to report lately.

According to this article by Gus Sentementes in The Sun last week, Martek announced that it “will pay $200 million for a consumer health and wellness product company that will for the first time help give their products a direct pipeline to store shelves.”

Up until now, Martek’s DHA Omega-3 fatty acid algae product has only been available as an added ingredient in other’s products like Beech-Nut baby foods and Crisco oils. The acquisition of Amerifit Brands will provide the company “an opportunity to develop and market consumer brands for supplemental products of theirs that are currently in research and development.”

"This new capability will enable Martek to move up the value chain by getting closer to the consumer, and should result in increased revenue and gross profit opportunities," Steve Dubin, Martek's chief executive officer, said in a statement.”

The company is already in the process of expanding their offices on Dobbin Road.

New Generation Biofuels also got some good news earlier this month when a test of their plant based biofuel at Washington College in Chestertown was deemed a success. According to a college press release the test “indicated a reduction in nitrogen oxide emissions by 51% compared to the #2 heating oil. There are no carbon monoxide or sulphur emissions from the biofuel. The biofuel is plant-oil based and can be washed up with soap and water.”

Since January of 2006 the school has embarked on a George Goes Green initiative for environmental “stewardship and sustainability.”

Nicely done.