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PFAI News
PFAI Events
Pinnacle Food Completes Milestone for Microalgae Production Facility
Pinnacle Food Group announced the completion of a key project development milestone and the formal commencement of construction of a commercial-scale microalgae-based astaxanthin production facility for Bei Harvest in British Columbia, Canada. In April, Pinnacle Food entered into an agreement with Bei Harvest for the phased development and delivery of a turnkey facility designed to support the commercial cultivation of microalgae and the production of astaxanthin. Astaxanthin is a naturally occurring carotenoid used in dietary supplements, functional foods, cosmetics and other applications. The aggregate revenue for the Company from the project is expected to be approximately $10M, subject to the final project scope and execution. Phase I, which encompasses planning and development, is valued at approximately $4M, as previously disclosed in the Company's 2025 Annual Report. Phase II, which encompasses construction of the project, is valued at approximately $6M. As the project developer and general contractor, Pinnacle Food is responsible for coordinating the facility's design, engineering, construction and systems integration. The facility is expected to incorporate advanced photobioreactor cultivation systems within a fully enclosed, precision-controlled environment designed for commercial-scale microalgae cultivation. The completion of the applicable planning and design work has enabled the project to transition into on-site construction.
Pinnacle Food Group Appoints Yunhao Chen as CFO
Pinnacle Food Group (PFAI) announced the dismissal of Wencai Pan as CFO and appointment of Dr. Yunhao Chen as CFO of the company, both effective June 1. Chen served as CFO of Massimo Group (MAMO) from its initial public offering in May 2023 through January 2026 and as a director from April 2024 through January 2026.
Pinnacle Food Signs MOU with Bioboost
Pinnacle Food Group announced that its subsidiary, Pinnacle Food AgTech HK, or PFHK, has entered into a non-binding memorandum of understanding, or MOU, with Open Yeast Collection and Bioboost Synbio Consulting. This MOU establishes a preliminary framework to explore the development of an Open Yeast Platform hub located at the Hong Kong-Shenzhen Innovation and Technology Park, a strategic border-zone development uniquely positioned to leverage the integrated technological and regulatory advantages of both Hong Kong and Mainland China. The Open Yeast Platform consists of two primary parts. The first is the Open Yeast Collection, an open-source collection of DNA parts for assembling genetic constructs in yeast. The current library contains hundreds of valuable DNA assembly parts to support synthetic biology research and biotechnology in yeast. The second part is the Open Yeast Strain Bank, an open-access, growing library of yeast strains made available to researchers worldwide. Both the DNA parts and the strains are released under an Open Material Transfer Agreement framework. As part of this collaboration framework, Bioboost, a specialized biotechnology advisory firm, will provide strategic consulting and technical integration expertise to facilitate the platform's regional deployment. With this platform, PFHK aims to curate, localize, and distribute these synthetic biology tools to the broader yeast research community, promoting scientific advancement and collaboration. By lowering the barriers to entry for yeast-based research, the Company expects to attract potential synergistic partnerships and accelerate its overarching B2B strategy of commercializing high-value biological products.
Pinnacle Food Group Achieves Significant Technical Milestone in Hong Kong
Pinnacle Food Group announced a "significant" technical milestone in its precision fermentation R&D pipeline achieved at its laboratory in Hong Kong. The research team created the first generation of a recombinant yeast strain to produce human lactoferrin, or rhLF, using a patented methanol-free Pichia fermentation method, accessed through the company's research collaboration with Bioboost. This advanced platform eliminates methanol to fundamentally mitigate severe fire hazards and substantially reduce operational costs. It also ensures zero toxic residue. While the rhLF strain continues to advance, the underlying methanol-free technology platform has already been successfully validated with other protein targets at pilot scale, demonstrating its robust readiness for commercial manufacturing. Human lactoferrin is a high-value functional protein sourced by manufacturers in infant nutrition, dietary supplements, and pharmaceutical applications.
Pinnacle Food Group Enters Tech Collaboration with Bioboost
Pinnacle Food Group announced that its wholly owned subsidiary, Pinnacle Food AgTech, has entered into a research and technology collaboration agreement with Bioboost Synbio Consulting, a biotechnology consulting company based in Vancouver, Canada. Under the agreement, the parties will collaborate on biotechnology and precision fermentation research applications, including research activities related to recombinant human lactoferrin, or rhLF, a naturally occurring protein found in human milk that is recognized for its potential applications in health, nutrition, and functional food development. The collaboration will also include technical consulting services, ecosystem scouting, and the evaluation of research directions and technical feasibility, including but not limited to areas related to agricultural technology, food technology and biotechnology.
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