Fermentalg shares rose sharply on Wednesday's trading on the Paris Bourse, as investors welcomed the strategic plan and new objectives unveiled by the microalgae specialist.

Defined under the leadership of its new CEO, Pierre Josselin, the plan targets sales of at least 25 million euros by 2026, a more than six-fold increase on current sales of around four million euros.

Thanks to the dynamism of the omega-3 market, Fermentalg intends to rapidly accelerate its sales and serve new customers, which should enable it to reach ten million euros in sales by 2024.

To this end, Fermentalg says it has entered into an industrial partnership with the HuvePharma group, a specialist in animal and human nutrition, which will ensure the production of its DHA Origins food range.

In addition, Nico Bonne - an executive with 22 years' experience in the international ingredients and omega-3 markets - will join the company in early 2024 as Sales Director.

Lastly, Fermentalg says it has initiated discussions with its strategic and financial partners to identify the best means of accelerating its growth and achieving economic and financial equilibrium, which will require additional financial resources by 2025.

Following these announcements, the share price climbed 5.7% on Wednesday on the Paris Bourse, although this has not prevented it from posting a decline of around 82% since the start of the year.

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