Phyox signed a contract for the purchase of construction land in the Business Zone Novska

Phyox Company LC signed on April 26, 2019 a contract for the purchase of construction land in the Business Zone Novska with the City of Novska to build a factory for microalgae production. The microalgae will be cultivated using closed photobioreactor technology, and the production process is completely environmentally friendly. Specifically, for algae cultivation CO2 is absorbed and oxygen produced with a positive environmental impact. The result of such technology are products of pure microalgae organic substance, and the market for this type of product is global and unlimited, and completely export oriented.

The Mayor of Novska, Marin Piletić said on this occasion: "The business plan indicates that the amount of the bidder's investment is worth EUR 8.9 million, which will be implemented in two stages, and the investor intends to employ at least 31 permanent workers."

For the production of microalgae, Phyox will use its own technology developed by the founders and business partners over the past seven years, based on closed photobioreactors that produce continuously, 24/7, 365 days a year, regardless of season, any environmental or climate impacts, or of day or night.

According to the business plan, Phyox LC is starting microalgae production mid 2020.