Accountants' Consent



The Board of Directors
Cyanotech Corporation:

We consent to incorporation by reference in Registration Statement Nos. 33-63789
and 33-55310 on Form S-8 of Cyanotech  Corporation of our report dated April 27,
1998, relating to the consolidated  balance sheets of Cyanotech  Corporation and
subsidiaries  as of  March  31,  1998 and  1997,  and the  related  consolidated
statements of  operations,  stockholders'  equity and cash flows for each of the
years  in  the  three-year   period  ended  March  31,  1998,  which  report  is
incorporated  by reference  in the 1998 annual  report on Form 10-K of Cyanotech
Corporation.  We also consent to  incorporation by reference of our report dated
April 27,  1998  relating  to the  financial  statement  schedule  of  Cyanotech
Corporation in the aforementioned  1998 annual report on Form 10-K, which report
is included in said Form 10-K.





/s/KPMG Peat Marwick LLP
Honolulu, Hawaii
June 26, 1998