From green to gold: Algae proves lucrative

A New Zealand research company has tapped into a potentially multi-million dollar market.

Nelson-based Cawthron Institute has extracted minute quantities of organic compounds from algae, and onsold them to international researchers.

Acting chief executive Daryl Wehner says the product has proven lucrative.

He says the unique element in some of the toxins derives from their being extracted from New Zealand algae.

Daryl Wehner says sales in the first nine months have exceeded a quarter of a million dollars.