[Asia Economy Reporter Hyunseok Yoo] CloudAir (formerly LiveFinancial) is showing strong performance. It appears that the news of U.S. President Biden rejoining the Paris Climate Agreement has had an impact.
As of 10:23 AM, CloudAir was trading at 2,420 KRW, up 23.47% (460 KRW) compared to the previous trading day.
President Biden plans to strengthen regulations, in direct contrast to former President Trump, who had eased regulations on power plants and vehicle emissions. In the power sector, a major overhaul aiming for zero carbon emissions by 2035 has been announced.
Earlier, CloudAir had received technology transfer for rapid astaxanthin conversion using carbon dioxide emissions since last year and is conducting related business with its affiliate Gyeongnam Pharmaceutical.
They signed a technology transfer agreement with Korea University Industry-Academic Cooperation Foundation for the patent technology titled “High-light-induced Hematococcus mutants with increased photosensitivity leading to enhanced astaxanthin productivity and a rapid astaxanthin conversion method of carbon dioxide in exhaust gas using the same.”
Through this patent technology transfer agreement, CloudAir has enabled large-scale cell culturing using discarded carbon dioxide. It was explained that through Gyeongnam Pharmaceutical, they will manufacture high-value natural astaxanthin with antioxidant and anti-inflammatory capabilities up to 6,000 times stronger than vitamin C.
Astaxanthin production based on the microalgae Hematococcus is gaining attention in the industry. Hematococcus extract (astaxanthin) is a type of carotenoid with high antioxidant power and is used as a material for various bioactive substances. The strong antioxidant astaxanthin helps regulate contraction and relaxation of eye muscles, improves retinal blood flow, reduces eye fatigue, and is effective in preventing ophthalmic diseases such as glaucoma, cataracts, and macular degeneration.
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