Zinzino Completes Purchase of 35 Percent Stake in Algae Producer Xion, Plans Omega-3 Joint Venture

GOTHENBURG, Sweden -- November 11, 2025

Zinzino said it has acquired 35 percent of the shares in Andorra-based Xion International Group, completing the first step of a process it announced on July 11, 2025. Xion, a production company based in Spain with its own patents, has developed a high-tech photobioreactor system for producing spirulina microalgae and has annual turnover of about 1.3 million euros. Most of its current output goes into Zinzino's spirulina-based products, which were added through the 2024 acquisition of Xelliss.

Zinzino paid a fixed purchase price of 1.2 million euros, consisting of 0.7 million euros in cash from its own reserves and 0.5 million euros in newly issued Zinzino B shares. The deal also gives Zinzino access to Xion's intellectual property rights.

As the next step, the companies plan to form a specialized omega-3 company called PhytoFerm, 55 percent owned by Zinzino, to develop algae cultivation and secure a sustainable future supply of omega-3 for Zinzino's main product, BalanceOil+. "Fish oil is a finite resource," said Chief Executive Dag Bergheim Pettersen, adding that the partnership secures an important raw material without increasing the company's climate footprint. Xion founder Tino Bacchetta said PhytoFerm will combine photobioreactor and fermentation technologies.