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Aqua-Spark, a Dutch investment company with a focus on sustainable aquaculture, takes the lead in the round.

Swedish Algae Factory Takes in an Investment of USD 5 Million

  (SWEDEN, 3/19/2020)

Swedish Algae Factory takes in an investment of SEK 53 (USD 5 million). The investment will help scale up production so that Swedish Algae Factory can continue to expand and meet the growing demand.

Swedish Algae Factory extracts a unique nanoporous silica material from silica algae, a single cell microscopic type of algae. The material has exceptional light manipulating properties as well as the ability to absorb or release particles depending on the surrounding environment. The material is trademark protected under the name Algica and is of interest to a variety of industries, where it can replace harmful and/or less effective chemical substances. Algica can be used, for example, to improve the efficiency of solar panels, as well as for moisturizing, cleaning and UV protection in skin care products.

The frustules of the algae have one to three layers of nanopores, which can be used in several industrial applications.

Production is circular; the algae cleans waste water, absorbs carbon dioxide and also creates a nutritious organic biomass that can be used for example as fish feed or fertilizer.

Aqua-Spark, a Dutch investment company with a focus on sustainable aquaculture, takes the lead in the round. Other investors in the round are Formica Ventures, Almi Invest Greentech, Mark Hartney, Chalmers Ventures, Almi Invest and Gladium AB.

Sofie Allert, CEO and co-founder of Swedish Algae Factory said, "We are very pleased to now be able to scale up production to meet the growing demand for Algica in the skin care and solar energy industry. We are also pleased to have strong investors with relevant expertise."

Sofie Allert, CEO and co-founder of Swedish Algae Factory.

About Swedish Algae Factory

Swedish Algae Factory was founded in 2016 by Sofie Allert and Angela Wulff with the vision to use algae to create an industry that will have a positive impact on the climate. Swedish Algae Factory extracts a unique nanoporous silica material from diatoms, a unicellular microscopic algae. The extract has exceptional light-altering properties as well as the ability to absorb or release particles depending on its surrounding environment. The material, branded under the name Algica, is of interest in a wide variety of industries. Today, Algica is being sold to the personal care industry and is being tested in the solar energy industry. The production is circular. The algae cleans wastewater, absorbs carbon dioxide, and also creates nutrient-rich organic biomass that can be used for fish feed or fertilizer.

Source: Swedish Algae Factory

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Information of the company:
Address: Stena Center Holtermansgatan 1
City: Gothenburg
State/ZIP: (SE-411 29)
Country: Sweden
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