Published on 13 November 2024
The session, held from 4:00 to 5:30 PM (Brussels Time), was the second event of its kind, dedicated to EU-based start-ups or small to medium-sized enterprises (SMEs), developing groundbreaking algae-based products, technologies, or solutions. As a result of close collaboration between BlueInvest, the European Commission, and its flagship project EU4Algae, this initiative supports innovation and investment in the rapidly growing algae sector.
The EU’s Role in Algae Sector Development
The European Commission has recently amplified its support for the algae sector, recognizing its potential for sustainable growth in the EU. Politically, the EU has implemented the EU Algae Initiative, which outlines 23 policy actions aimed at building a robust algae industry. Additionally, the European Algae Stakeholder Platform (EU4Algae) was created, which includes approximately 1,000 members, and fosters collaboration and visibility within the sector.
Notably, the first-ever EU Algae Awareness Summit took place in Paris on 5-7 October 2023, complemented by new algae funding calls for regenerative ocean farming and enhanced collaboration to raise awareness through initiatives like Euronews Ocean episodes, algae BlueInvest sessions, a Eurobarometer to learn about consumers’ preferences, among others.
As part of this vision, the EU aims to leverage algae cultivation to transform coastal economies, promote job and business creation, and pioneer eco-friendly products in food, feed, and pharmaceuticals, driving innovation and making the EU a global leader in the green (and blue) economy.
Encouraging Investment in the Algae Sector
During the session, Felix Leinemann, Head of the Blue Economy Unit from the Directorate-General for Maritime Affairs and Fisheries (DG MARE), emphasized the importance of investment in this rapidly evolving field, stating:
“Investors should pay close attention and increase their financial support for the algae sector as it aligns with the EU’s ambitious climate and biodiversity goals, helping build a cleaner, healthier environment and laying the groundwork for a prosperous, green economy that benefits everyone. There is a clear increasing demand for algae products, so we invite the investors to continue investing in the sector.”
This encouragement highlights the sector’s alignment with the EU’s climate goals and underscores the potential for sustainable growth and market demand.
Session Highlights: Five Pioneering Companies
Five selected companies pitched their algae-based innovations in nutraceuticals, environmental biotech, consumer products, macroalgae, and agrifood to a panel of investors. These innovators are pushing the boundaries in various sectors:
- Algosource - Develops and sells microalgae-based nutraceuticals, focusing on R&D and clinical studies to address chemotherapy side effects in gastrointestinal oncology patients.
- Bromalgae - Designs and develops high-precision biological solutions to reduce polluting gases with microalgae.
- BettaF!sh - Revolutionises food with seaweed-based proteins, aromas, and flavours.
- Macrocarbon - Leads the way to defossilize industries and protect the planet.
- Sea4earth - Cultivates macroalgae for sustainable food consumption and drives agro-industrial transformation.
One-to-one follow-up meetings have followed, allowing investors and selected companies to engage in more in-depth exchanges about their innovative solutions and potential funding needs, further fuelling this collaborative momentum.
Emerging Trends in the Algae Sector
Commons trends among the pitching companies in the food sector reveal that algae, a highly sustainable resource, are playing a significant role in meeting the growing demands for food production. Many of these companies work with both B2B and B2C products or B2B2C, with some targeting and already exporting to Asia, indicating a promising interest from countries with high production capacity but an openness to European innovations and products.
Looking Ahead: Shaping the Future of the Algae Industry
EU4Algae and BlueInvest remain committed to their mission of supporting algae-based innovations and businesses as they scale, helping to drive sustainable growth and innovation in fields such as nutraceuticals, environmental biotech, and sustainable food. The event reinforced the role of investment in cultivating a resilient, regenerative algae industry that aligns with the EU’s ambitious climate and biodiversity goals.
Additional information
About BlueInvest
BlueInvest is the European Union’s innovation and investment platform for the Blue Economy. It provides support to help young ocean technology companies to shift their ideas into marketable products and services by providing business coaching and fundraising support and matching them with investors. It also offers a wealth of opportunities for founders, investors, large corporates and stakeholders in the blue economy. By fostering a robust community, BlueInvest facilitates networking, investment readiness assistance, and investor capacity building. Through its community platform and various events, BlueInvest connects investors with high-potential startups and SMEs that are pioneering innovative and sustainable solutions for the Blue Economy.
For more information, please visit https://www.blue-invest.eu/.
About EU4Algae
EU4Algae is a European algae stakeholders forum aimed at supporting bringing more algae-based products (e.g. food, feed, cosmetics, nutraceuticals, polymers, etc.) to the EU market. EU4Algae Forum is a unique collaborative space for European algae stakeholders, including farmers, producers, sellers, consumers, technology developers, business-support organisations, investors, public authorities, academia, and researchers. Its community now boasts over 1000 members dedicated to discussing the advancement of algae in Europe. EU4Algae supports closely the European Commission, especially the implementation of the EU Algae Initiative and its action plan. EU4Algae disseminates EU-funded initiatives and projects and shares knowledge and best practices for enabling and boosting the development of a regenerative algae industry and strengthening the sector.
Join the #EU4Algae conversation and keep an eye on the EU4Algae Forum to stay updated on ongoing activities, initiatives, and sector updates.
Got questions? Contact us at: contact
eu4algae [dot] eu (contact[at]eu4algae[dot]eu)