By Sabela Ojea

Unilever PLC said Wednesday that it has partnered with biotech startup Algenuity to investigate the future potential of microalgae in food for its plant-based portfolio.

The Anglo-Dutch multisector retailer--which owns consumer brands such as Ben & Jerry's ice cream and Dove soap--said that Algenuity's focus is the development of microalgae for use in consumer products and that the startup's research-and-development team will collaborate with its foods-and-refreshment division to commercialize microalgae-based food.

Shares at 1302 GMT were up 91.00 pence, or 1.9%, at 4780.00 pence.

Write to Sabela Ojea at sabela.ojea@wsj.com; @sabelaojeaguix

(END) Dow Jones Newswires

July 29, 2020 09:26 ET (13:26 GMT)

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