Aqua Bio Technology collaborates with Banco Espanol de Algas and Moana Skincare

Cosmetics ingredients manufacturer Aqua Bio Technology (ABT) has entered partnership agreements with Banco Espanol de Algas (BEA) and Moana Skincare as a part of its strategy to expand and commercialise.

This technological collaboration with Banco Espanol de Algas (BEA) includes research on various algae strains. These will be utilised to develop beta glucan-based ingredients for skincare and nutritional supplement products. ABT will hold exclusivity, manufacturing, and IP protection rights.

BEA is the third technology partner to ABT, following agreements with the UK and French companies.

The partnership with New Zealand-based Moana Skincare runs for eight years and involves the exclusive distribution and retail of the 19 existing and any new Moana Skincare products in Europe and the Middle East.

Under certain conditions, ABT can exercise the option to purchase up to 30% of Moana's shares and it has a right of first refusal for acquisition of the entire company on the occurence Moana Skincare decides to sell its entire shares.

ABT has recently announced its plans to expand its business with the marketing and retail of third party products to consumers and professional users. In addition, ABT will also act as a commercial centre for technology designed for skincare products and dietary supplements.

Set to introduce the first ingredients early this year, the firm expects to form additional partnerships.