Hi-Cap Formulations has developed a photobioreactor for cultivating a thin, highly dense layer of microalgae in flexible plastic sleeves. The horizontal sleeves float on ponds and have no superstructure. Carbon dioxide is used to inflate the air space and float the sleeves, and is also mixed into the algal medium as needed for photosynthesis by using low-energy mini near-shear wave generators. The companys design requires no compressors or pumps for gas exchange and mixing. Hi-Cap Formulations is focused on producing contaminant-free microalgae for animal feed, serving as a substitute for fish meal, fish oil, and eventually soybean meal while using less land, fresh water, and fertilizer than conventional crops.