Cyanotech
Cyanotech is a Kailua-Kona, Hawaii-based microalgae cultivator producing BioAstin Hawaiian Astaxanthin and Hawaiian Spirulina Pacifica via a 96-acre NELHA facility, selling bulk ingredients to nutraceutical/cosmeceutical manufacturers worldwide and packaged supplements to consumers through its Nutrex-Hawaii brand in 66+ countries.
- Company typePublic
- Founded1983
- HeadquartersKailua Kona, United States
- Headcount51–100
- GTM typeB2B and B2C
- OfferingHardware or Manufacturing
What Cyanotech does
Cyanotech Corporation, founded in 1983 and headquartered in Kailua-Kona, Hawaii, is a microalgae cultivation and natural products company operating a 96-acre production facility at the Natural Energy Laboratory of Hawaii Authority (NELHA). The company produces two primary ingredients — BioAstin Hawaiian Astaxanthin, extracted from Haematococcus pluvialis microalgae using high-pressure supercritical CO2, and Hawaiian Spirulina Pacifica, cultivated from Arthrospira platensis — leveraging proprietary processes including the patented Ocean Chill Drying technique, cold compression tableting, and the use of cold deep ocean water pumped from 2,000 feet for cooling and trace mineral supply.
The business operates a dual-channel model. The Nutrex-Hawaii consumer brand, founded in 1990, sells packaged BioAstin (4mg/12mg gelcaps, water-dispersible powder) and Hawaiian Spirulina (powder, 500mg tablets) directly to consumers at US mass-market retailers and online at nutrex-hawaii.com, with products distributed in over 66 countries. On the B2B side, Cyanotech sells bulk spirulina and astaxanthin raw materials to dietary supplement, nutraceutical, and cosmeceutical manufacturers worldwide, and — since April 2024 — provides contract manufacturing services for ZIVO Bioscience's Zivolife algal biomass. The company holds GRAS status and a stack of third-party certifications (Non-GMO Project Verified, Halal, Kosher, Vegan, Gluten-Free, NAXA natural, Blue Zones) that anchor its premium positioning.
Cyanotech trades on OTCQB under the ticker CYAN (formerly Nasdaq Capital Market) and is currently undergoing a going-private transaction (Form 15 filed February 2026 under Schedule 13E-3). FY2025 revenue was $24.22M with a $3.20M net loss, but Q2 FY2026 showed 19.3% YoY revenue growth and gross margin expansion to 34.3% from 25.3%, with near-breakeven net income of $1,000. The company is led by President & CEO Matthew Custer, who succeeded founder Gerald Cysewski.
Cyanotech firmographics
Firmographics- Name
- Cyanotech
- Legal name
- Cyanotech Corporation
- Website
- https://cyanotech.com
- Company type
- Public
- Founded year
- 1983
- Operating status
- Operating
- Headcount range
- 51–100 employees
- Short description
- Cyanotech is a Kailua-Kona, Hawaii-based microalgae cultivator producing BioAstin Hawaiian Astaxanthin and Hawaiian Spirulina Pacifica via a 96-acre NELHA facility, selling bulk ingredients to nutraceutical/cosmeceutical manufacturers worldwide and packaged supplements to consumers through its Nutrex-Hawaii brand in 66+ countries.
- Ownership category
- akta.pro rank
Cyanotech industry classification
Industry- Product category
- Microalgae-based Dietary Supplements
- NAICS
- Aquaculture (1125)
- SIC
- Food And Kindred Products (2000), Medicinal Chemicals & Botanical Products (2833)
- akta.pro primary industry
- Algae & Seaweed Proteins (Microalgae/Spirulina, Macroalgae) (AFAJAHAF)
- akta.pro secondary industry
- Seaweed & Algae Aquaculture (incl. microalgae) (AFAEAAAE)
Keywords
Where Cyanotech is headquartered
LocationHeadquarters
- HQ city
- Kailua Kona
- HQ country
- United States
- HQ region
- North America
Offices2 records
Markets served
Cyanotech business model
Business model- GTM type
- B2B and B2C
- Offering type
- Hardware or Manufacturing
- Cost components
- Operations, Supply Chain, Personnel, Marketing or Sales, Technology or R&D, Infrastructure
Revenue model
- Nutrex-Hawaii Packaged Products: Sale of branded dietary supplement products (BioAstin Hawaiian Astaxanthin and Hawaiian Spirulina) in packaged form directly to consumers at retail and online. Includes gelcaps (4mg, 12mg), powder, and tablets.
- Bulk Ingredient Sales: Sale of bulk spirulina powder and bulk astaxanthin raw material to dietary supplement, nutraceutical and cosmeceutical manufacturers and marketers worldwide. Represents significant and growing portion of revenue.
- Contract Manufacturing Services: Third-party contract manufacturing services including ZIVO Bioscience agreement for proprietary Zivolife algal biomass production.
Go-to-market motion3 records
Distribution channels4 records
Marketing channels5 records
Cyanotech product offering
Product offeringCore offering
Cyanotech cultivates and processes microalgae at its 96-acre facility in Kailua-Kona, Hawaii to produce BioAstin Hawaiian Astaxanthin (from Haematococcus pluvialis) and Hawaiian Spirulina Pacifica (from Arthrospira platensis). It sells these as bulk ingredients to dietary supplement, nutraceutical, and cosmeceutical manufacturers and markets finished packaged consumer supplements (gelcaps, tablets, powders) under the Nutrex-Hawaii brand at US retailers and online.
Product overview
Cyanotech is a microalgae-based natural products company offering two core product lines: BioAstin Hawaiian Astaxanthin (derived from Haematococcus pluvialis microalgae) and Hawaiian Spirulina Pacifica (derived from arthrospira platensis). The company operates through two brands: the ingredient/ bulk brand (direct to manufacturers) and Nutrex-Hawaii (consumer packaged goods). Products are sold in various forms including gelcaps, powders, and tablets, serving the dietary supplement, nutraceutical, and cosmeceutical markets.
Differentiator
Problem solved
Functional benefit
Brands
- BioAstin: Hawaiian Astaxanthin - natural antioxidant supplement for joint, skin, eye, and cellular health derived from Haematococcus pluvialis microalgae
- Hawaiian Spirulina Pacifica
Products and services
- BioAstin Hawaiian Astaxanthin Natural astaxanthin supplement derived from Haematococcus pluvialis microalgae grown in an open culture system under the Hawaiian sun and extracted using high-pressure supercritical CO2. Sold as 4mg or 12mg gelcaps and in bulk ingredient form for joint, tendon, skin, cardiovascular, eye, and cellular health support, as well as exercise recovery.
- BioAstin Water Dispersible 3% Astaxanthin Powder Proprietary water-dispersible astaxanthin powder offering 2.4x enhanced bioavailability, hot and cold water dispersible across a wide pH range. Sold as a bulk B2B ingredient for powder mixes, beverages, teas, fruit juices, carbonated beverages, topical creams, and companion animal supplements.
- Hawaiian Spirulina Pacifica
Quantifiable outcome
- Spirulina produces 15x more protein per acre than beef, corn and soybeans
- +4 more outcomes
Companies that use Cyanotech
Customer profileNamed customers4 records
Segments4 records
Ideal customer profiles4 records
Cyanotech technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature5 records
Cyanotech partnerships and signals
Strategic signalPartnerships
One partnership is on record.
- ZIVO BiosciencecoreZIVO Bioscience signed a manufacturing agreement with Cyanotech to grow, cultivate, and process its proprietary Zivolife algal biomass (Kelbsormidium Flaccidum) for commercial applications in animal health, human nutrition, and functional ingredients markets. Cyanotech provides access to its 96-acre production facility at NELHA, over 40 years of microalgae cultivation expertise, and cGMP operations with GRAS certification. The agreement represents a significant milestone in ZIVO's commercial readiness.
Scale indicators9 records
Recent moves7 records
Expansion highlights6 records
Cyanotech competitors and assessment
Company assessmentDirect peers
- BGG Americas (BGG Group): Global supplier of natural astaxanthin, spirulina, and other microalgae-derived ingredients to dietary supplement and nutraceutical brands — overlapping directly with Cyanotech's bulk ingredient business.
- Fuji Chemical Industries (AstaReal): Japanese manufacturer of natural AstaReal astaxanthin from Haematococcus pluvialis, a leading global rival in premium astaxanthin ingredients serving supplement and functional food manufacturers.
- Algatechnologies (Solabia Group): Israel-based producer of natural astaxanthin from Haematococcus pluvialis, competing head-to-head with BioAstin in the bulk astaxanthin ingredient market for nutraceutical and cosmeceutical applications.
- Earthrise Nutritionals (DIC Corporation): Largest U.S.-based open-pond spirulina producer (California), making it the closest direct competitor to Cyanotech's Hawaiian Spirulina Pacifica in the natural spirulina ingredient and finished supplement market.
Emerging players
- Triton Algae Innovations: Developer of microalgae-based ingredients for food, nutraceutical, and personal care markets, focused on novel strains — adjacent to Cyanotech's microalgae cultivation and ingredient business.
- Heliae Development: U.S. microalgae cultivation company producing specialty algae biomass for nutrition, agriculture, and aquaculture markets; comparable in cultivation technology and target B2B ingredient customers.
- Algenol Biotech: Florida-based microalgae biotechnology company developing algae-based products for fuels, nutrition, and personal care — a niche competitor with overlapping microalgae cultivation capability.
Broad incumbents
- dsm-firmenich: Large global nutrition and ingredients major with a portfolio that includes algal oils, vitamins, and carotenoids, serving the same dietary supplement and nutraceutical customers as Cyanotech.
- Corbion: Global ingredient company (formerly CSM) producing algae-based DHA/omega-3 and other fermented/biotech ingredients for food, nutrition, and personal care; competes broadly in the same microalgae-derived ingredient space.
- BASF: Diversified chemical and ingredient giant with nutrition & health offerings (including carotenoids and personal care actives), overlapping with Cyanotech in supplying B2B nutraceutical and cosmeceutical manufacturers.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks6 records
Key highlights7 records
Customer concentration
Cyanotech social profiles
Digital presenceCyanotech compliance and trust
Trust signalCompliance6 records
Cyanotech financial estimates
Financial estimateRevenue estimate
Valuation estimate
Cyanotech leadership team
Management profileNumber of profiles
Profiles3 records
Cyanotech funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Cyanotech M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Cyanotech
What does Cyanotech do?
Cyanotech cultivates and processes microalgae at its 96-acre facility in Kailua-Kona, Hawaii to produce BioAstin Hawaiian Astaxanthin (from Haematococcus pluvialis) and Hawaiian Spirulina Pacifica (from Arthrospira platensis). It sells these as bulk ingredients to dietary supplement, nutraceutical, and cosmeceutical manufacturers and markets finished packaged consumer supplements (gelcaps, tablets, powders) under the Nutrex-Hawaii brand at US retailers and online.
Is Cyanotech a public or private company?
Cyanotech is a public company. It is classified as public and is currently operating.
When was Cyanotech founded?
Cyanotech was founded in 1983. It employs 51 to 100 people.
Where is Cyanotech based?
Cyanotech is headquartered in Kailua Kona, United States, in the North America region.
How does Cyanotech make money?
Three revenue lines are on record. Nutrex-Hawaii Packaged Products are the primary driver. The others are bulk Ingredient Sales and contract Manufacturing Services.
Who are Cyanotech's main competitors?
Direct peers on record are BGG Americas (BGG Group), Fuji Chemical Industries (AstaReal), Algatechnologies (Solabia Group) and Earthrise Nutritionals (DIC Corporation). Emerging players are Triton Algae Innovations, Heliae Development and Algenol Biotech. Broad incumbents are dsm-firmenich, Corbion and BASF.
Does Cyanotech have an API?
No public API is recorded for Cyanotech.
What industry is Cyanotech in?
Cyanotech's product category is Microalgae-based Dietary Supplements. Its primary akta.pro industry code is AFAJAHAF, Algae & Seaweed Proteins (Microalgae/Spirulina, Macroalgae), with a secondary code of AFAEAAAE, Seaweed & Algae Aquaculture (incl. microalgae). Its NAICS code is 1125 and its SIC code is 2000.