Fermentalg: First Order of Galdieria Blue, Targeting €20M Revenue by 2026
Fermentalg reported a revenue of €7.4M in the first half of 2026, nearly stable compared to €7.6M recorded a year earlier. However, the composition of the revenue has significantly changed, with an increase in high-value-added lipids and particularly the crucial commercial launch of the natural blue dye Galdieria Blue. This first order, delivered in the second half, is expected to boost growth and help the company reach its annual revenue target of €20M.
Stable Revenue in the First Half, but Transformed Revenue Structure
Fermentalg recorded a revenue of €7.4M in the first half of 2026, close to the €7.6M achieved a year earlier. This apparent stability, however, masks a significant commercial repositioning: the company has adjusted its product mix in favor of higher-value-added segments, notably its Ωrigins lipid range. The company indicates that this structural growth in sales represents a cornerstone of its commercial strategy for the coming periods. Meanwhile, other segments have undergone adjustments, reflecting a deliberate managerial transition towards higher margins. This reorientation is part of a strategy of selectivity: Fermentalg now targets customers and segments offering better profitability.
Galdieria Blue Reaches a Crucial Milestone: First Order Secured
Beyond lipids, the real turning point of the semester lies in the first order of the natural blue dye Galdieria Blue, currently scheduled for delivery and accounting in the second half of 2026. This event marks the crossing of a major industrial milestone: after receiving approval from the U.S. Food and Drug Administration (FDA) and a positive opinion from the European Food and Safety Agency (EFSA), the product is entering the commercial deployment phase with industrialists. The demand is tangible: it meets consumer enthusiasm for natural alternatives to synthetic dyes, reinforced by the U.S. administration's decision to mandate the complete replacement of synthetic blue dye (Blue One) by January 1, 2028. Fermentalg and its partner Huvepharma are preparing for a rapid ramp-up of production starting in late 2026, with scheduled volume increases by the end of the year.
Annual €20M Revenue Target Confirmed Thanks to Expected Acceleration in the Second Half
With this momentum, Fermentalg confirms it anticipates a strong acceleration in revenue growth in the second half of 2026. The management aims for an annual revenue target of €20M, nearly doubling the €13M achieved in 2025. This target is based on three pillars: the steady growth of high-value-added lipids, additional lipid sales benefiting from the rise in fish oil prices (including the new EPA/DHA formula replicating the composition of fish oil intended for aquaculture), and especially the commercial launch of Galdieria Blue. The management now believes it has a competitive industrial tool to realize these opportunities.
