The change was approved by shareholders at an EGM on March 6.
Simris Alg’s company name has been officially changed to Simris Group, within the Swedish companies register (Bolgasverket). The change was approved by shareholders at an EGM on March 6.
The change of name to Simris Group is in line with the long-term strategy to build an international business operating across multiple industry sectors.
“As already demonstrated through our acquisition of Cyano Biotech last year, and its recent change of name to Simris Biologics, it is our goal to build Simris into a global player in the microalgae space. As we develop or acquire new competencies, we accelerate entry into new markets and gain greater access to new geographies," said Julian Read, CEO Simris Alg.
Read continued: "Our attraction to protected technology platforms, and expanded production capability, underpin our focus on opportunities that represent accretive value for shareholders."
Steven Schapera, Chairman, Simris Alg added: “Thinking longer term, Simris Group will be the umbrella under which each of our future businesses sit. Our acquisition of Cyano Biotech took Simris beyond food supplements and B2B Biomass into the high margin biopharmaceutical space. Our intention is to build on these existing verticals, whilst retaining an interest in other complimentary fields that bring strong synergies.”