🌊 Turning the tide on ocean innovation with Harry Wright

PLUS $178m to advance bioenergy technology, cyanobacteria cultivation meets microfluidics, and MiAlgae have found the new James Bond?

Sep 23, 2022

"The aim is to scale, accelerate and bolster the pipeline of investment-ready blue carbon projects around the world." — Harry Wright, Bright Tide

Dear algae technologists - hello and welcome to the Paxtier Report!

This week we peer through the green looking glass at Professor Kyoung Hee Kim’s biochromic windows…

Her system captures carbon dioxide emissions through "closed-loop regenerable technology." And the tint and colour of the algae changes in response to solar intensity - creating optimal indoor conditions. According to Prof Kim, excess algae can also be used to support domestic water heating or harvested and used in the development of algae-based products.

See more HERE.

In today’s report:

Markets: 💸US Department of Energy announces $178m to advance bioenergy technology

Deals: 🤝DIC invests US$9m in mass algae cultivation facilities

Research Rundown: 🧪 Cyanobacteria cultivation meets microfluidics

Movers and Shakers: 🌊 Turning the tide on ocean innovation with Harry Wright

Around the web: 💡MiAlgae have found the new James Bond?

Markets and Investing

✂️Algae Market Snippets

Some recent big moves:

I-Phyc, the nature-based wastewater treatment solution has raised a further £2.3m! - These guys remove wastewater contaminants using algae and will use the funding to "enhance technology, bring new sites on board and firmly establish its position as the market leader in chemical-free water treatment systems." (Read more HERE).
Sophie’s Bionutrients and NewFish, both leaders in microalgae protein fermentation, are partnering on an effort to further explore microalgae’s potential in the future of food, namely the booming dairy alternative market. (Read more HERE).
The Swiss could hit CO2 target with $156 billion package study - a study has suggested that Switzerland could hit the target of halving carbon emissions by 2030 via a package of measures that would cost around 150 billion Swiss francs ($156 billion), or around 2-3% of economic output per year. (Read more HERE).
DIC invests US$9m in mass algae cultivation facilities to produce more sustainable Spirulina, and the natural blue food colourant, LINABLUE. (Read more HERE).
US Department of Energy announces $178m to advance bioenergy technology and foster sustainable technology breakthroughs that can improve public health, help address climate change, improve food and agricultural production and create more resilient supply chains. (Read more HERE).
Hawaii nets record $79.7m in aquaculture sales in 2021 - The tally breaks the previous record for Hawaii of $78.4m in 2019 with algae accounting for $36.7m, or 46%, of the total. (Read more HERE).
Ozers to Raise €300K for Unique Microalgae Sports Supplements. (Read more HERE).
Macro plans for microalgae in Israel - Kibbutz Yotvata and Brevel have agreed to build a commercial-scale manufacturing facility for the cultivation and production of microalgae-based protein and related products for the food and beverage industry.(Read more HERE).
Seaweed farm on the horizon - This farm will be operational at Port Broughton, and will be created by transforming a former prawn farm into a facility which predominantly harvests Asparagopsis, a seaweed species commonly used to prevent methane emissions in ruminating livestock. (Read more on page 1 and 4 HERE)
KELCO Launches "BREWZA" The World's First Seaweed-based Coffee Alternative, made from toasted giant kelp and red seaweed. (Read more HERE).
Indonesian Ministry oversees N Kalimantan's 52.4 tons seaweed exports to Vietnam. (Read more HERE).
Alaska kelp harvest grows by 27%, reaches half a million pounds in 2022 (Read more HERE)
John Paul Jones launches new ‘Ranger’ Rum - The spirit is soaked in spiral wrack seaweed, hand-picked from the beaches of Southwest Scotland. (Read more HERE).
Umaro Foods announces investment from NBA star Chris Paul to grow reach of plant based bacon. (Read more HERE).
Aquascot trust doubles down on loss-making seaweed snack venture, closes frozen meals arm (Read more HERE).
Seaweed feed-additives could soon be earning carbon credits - companies behind the development of methane-reducing feed additives have started proposals to earn Australian carbon credits by using their product. (Read more HERE).
Marinova to triple manufacturing capacity - Marinova is pleased to announce the commencement of a $5 million expansion of its state-of-the-art advanced manufacturing facility in Tasmania, Australia. “The expansion will allow Marinova to triple its fucoidan production capacity,” said company CEO Mr Paul Garrott. (Read more HERE).
Promoting seaweed consumption and production in the US - A team from the University of Connecticut (UConn) and Connecticut Sea Grant are using innovative research and community outreach to help make seaweed more accessible for consumers and more profitable for producers. (Read more HERE).
Kenya and Uganda agripreneurs emerge as finalists of the $100,000 Generation Africa awards. (Read more HERE).
Coveris teams up with Notpla to deliver sustainable foodservice packaging - Tackling growing sustainability concerns in the food-to-go and takeaway sector, the new specially coated board packs, made with a mix of seaweed and plant extracts, provides a food-safe barrier function and biodegrades naturally in 4-6 weeks. (Read more HERE).
AlgaEnergy certifies its commitment to sustainability through the EIC GHG Programme - The biotechnology company has joined and completed the first phase of the EIC Greenhouse Gas (EIC GHG) Programme with the aim of measuring, reducing and offsetting the carbon footprint of European companies. (Read more HERE).
Mind Blown by the Plant Based Seafood Co. and Atlantic Sea Farms Announce Collab. (Read more HERE).
USDA awards Tlingit & Haida funding for Herring Roe program. (Read more HERE).
Introducing Canopy Blue - a new WA based venture planning to create a hyper-scale seaweed cultivation platform. (Read more HERE).
Swedish Algae Factory revealed it has partly received funding from the EU LIFE programme to build a new plant for it’s SUNALGAE project. For this project, they are looking to use unique algae material to enhance the efficiency of solar panels. (Read more HERE).
Bedbugs, sh*t shows and algae hype: 5 reveals from Big Oil emails (Read more HERE)
Tekslo are expanding into international markets with their two seaweed brands Sjøsaker (food and supplement) and Sollmar (Skincare) and are looking for partners. (Read more HERE).
Mitsuba introduces a new seaweed snack in collab with The Seaweed Company: Seaweed Crisps. And for every bag of Seaweed Crisps sold, a section of seaweed farm the size of an A4 piece of paper is added. (Read more HERE).
TANGO Seaweed is partnering with Food2050 to develop and promote food which makes a positive impact on people, climate and the planet. (Read more HERE).
Opal Pets, a leading provider of vegan nutrition products for animals, has officially announced the launch of a complete vitamin, mineral and amino acid supplement that supports balanced plant-based nutrition for adult dogs. (Read more HERE).
Ionix Technology, Inc. signs agreement for the acquisition of 51% equity of Legend Ecological Aquaculture (Changhai) Co. Ltd. (Read more HERE).
Missha launches at Saks Fifth Avenue. The company uses unique probiotic fermentation methods to produce algae products. (Read more HERE).
Yokogawa selected by Grön Fuels as preferred supplier of technology, equipment, and services for North America's largest renewable fuels complex. (Read more HERE).

🌊Turning the tide on ocean innovation with Harry Wright

Bright Tide is backing ocean entrepreneurs.

Thanks to the company’s eight-week Blue Economy Ocean Accelerator Programme, multiple marine start-ups have gained access to expert mentors, commercial pitching opportunities, workshops, and professional networks.

And several algae teams (including Biome Algae, Sea Green and Urchinomics) have benefitted from the experience:

Being a member of the 2022 cohort for the Bright Tide accelerator programme has been invaluable to our company. The programme helped us become investment-ready and we picked up so much from the programme partners. As a result, we are experiencing a very successful funding round, are on the way to developing our brand and are now forming important research programmes that will underpin and propel the overall seaweed industry in the UK. We have progressed so much as a company in just a few months and are now set for a significant growth stage.

- Dr Angela Mead, CEO, Biome Algae

With that in mind, I wanted to learn more about the accelerator. So, I sat down with Bright Tide’s Harry Wright. And in this teaser from our recent chat, check out our discussion on major lessons, Bright Tide’s upcoming blue carbon accelerator programme, and the importance of education in this sector.

What major lessons can you take away from your latest accelerator programme?

The whole thing has been an incredible learning opportunity and a brilliant way to connect with founders.
The start-ups particularly enjoyed the collaborative environment and the networking aspect of the programme, which exposed them to representatives from The Crown Estate, Hogan Lovells, Investec and The University of Plymouth.
At the same time, we gained insight into the goals and motivations of large corporate organisations. And it was fantastic to see their engagement and interest in the blue economy. That’s where we see Bright Tide coming in – serving to educate private sector companies and connecting them to ocean investment opportunities.
Ultimately, that's the real key to unlocking private sector capital - increasing awareness and providing a platform for these phenomenal start-ups.

Can you expand on your upcoming blue carbon programme?

This upcoming accelerator programme begins in October and will focus on the ocean’s ability to capture and store carbon. The aim is to scale, accelerate and bolster the pipeline of investment-ready blue carbon projects around the world. And to do this, we will continue to educate organisations on the meaning of blue carbon and de-risk impact projects.
At the same time, we hope to clearly identify the challenges impeding blue carbon projects. We suspect these will largely revolve around jurisdictional and governance issues. But doubts around leakage, double-counting, and permanence will also need to be resolved. We are also looking forward to working with blue tech ventures that can help blue carbon projects better monitor, assess and report on their blue carbon assets.
Ultimately, we're drastically running out of time. And if we don't take massive action soon, we won’t have anything left to conserve. That's where the Bright Tide programme can make a real difference.
If you’d like to learn more about Bright Tide or apply to the upcoming accelerator programme, check out the company's site. You can also follow Harry Wright on LinkedIn and see Bright Tide's startups pitching for investment at the upcoming Meet-The-Buyers event in London.

THE BIG IDEA

Cyanobacteria are fast-growing, genetically accessible photoautotrophs.

These attributes have made them particularly interesting candidates for climate tech applications.

But few enterprises have managed to scale up cyanobacterial systems.

And that’s where Cao et al. believe they have a partial solution - thanks to their “droplet‑based microfluidic platform” which allows for rapid screening of ideal cultivation conditions.

The breakdown

In this study, the researchers used microfluidics to strain-specifically optimise growth conditions for three different cyanobacteria.

This approach allowed the researchers to handle liquids “in technical channels with dimensions in the micrometer to lower millimeter range - with the central idea being the miniaturisation of large-scale technical laboratory processes to improve handling, material requirements and enable process automation.”

The result

The experiment showed that the droplet-based microfluidic process could screen culture media conditions quickly and efficiently.

The team then used the tech to make minor amendments to a commonly used medium formulation…

… And the application of this improved medium increased biomass yields by up to 15.7%.

When reading, be sure to check out…

The transferability and cost-effectiveness of this microfluidics approach. Cao et al. suggest that this could be key to scaling cyanobacterial operations. And they expect that the methodology can be generalised to other applications such as expression level optimisation of engineered cyanobacteria and bioprospecting.

🔥 What else was hot in algae tech?

How to make kelp aquaculture a better - and more economical - carbon sink. (Read more HERE).
Why Kelp Makes Such A Great Meat Substitute. (Read more HERE).
The company using seaweed to feed cows, and clean rivers. (Read more HERE).
Knowledge of seaweed and kelp as a success factor. (Read more HERE)
Women in aquaculture: Melania Lynn Cornish. (Read more HERE).
LOLIWARE to be featured at Clinton Global Initiative Event as a One of the Clinton Foundation’s Greenhouse Entrepreneurs. (Read more HERE).
Researchers dive for kelp in the Arctic. (Read more HERE).
Meet Kudarat, a leather alternative synthesized using algae, food & fiber waste (Read more HERE)
SeaSolv enables waste-free multiproduct biorefinery of seaweed. (Read more HERE).
Soft devices—powered by 'stressed' algae—glow in the dark when squished or stretched. (Read more HERE).
Ecuador launches floating islands to save stinky Guayaquil estuary (Read more HERE).
Biotechnology company Purissima releases study findings related to the potential applications and usage of Cannabichromene. (Read more HERE).
The seagriculture conference wrapped up - and provided some great insights like: “There is no argument about the great investment opportunities in seaweed, but there are uncertainties when it comes to business profitability. Teams must take into consideration the following 4 factors impacting profitability: yield, seaweed price, salaries, and depreciation of equipment.”
(Read more HERE).
The startups harnessing the power of algae (Read more HERE).
Kelpi has been unveiled as one of Tech Nation’s Net Zero 3.0 cohort of the UK’s leading climate tech scaleups. (Read more HERE)
🛎 New clinical study results - a recently published double-blind placebo controlled study demonstrated that AstaPure® Arava can have a beneficial effect on the immune system and global well-being. (Read more HERE).
Three-dimensional fossil algae more than 541 million years old reveal modern-looking ancestry of the plant kingdom. (Read more HERE).
Microalgae promise abundant healthy food and feed in any environment. (Read more HERE).
(Paper) Simulating biotechnological processes affected by meteorology: Application to algae-bacteria systems. (Read more HERE).
Kelp Blue, reNature and Kelp Forest Foundation were selected as winners at Solve - MIT 2022 Climate: Ecosystems + Housing challenge. (Read more HERE)
Insights into two rare types of photosynthesis could boost crop production. (Read more HERE).
Seeking Marine Engineering Expertise for Offshore Seaweed Farming Platform (Read more HERE).
Quantifying baseline costs and cataloguing potential optimization strategies for kelp aquaculture carbon dioxide removal. (Read more HERE).
Hidden Forests Found Deep Beneath The Ocean Cover Twice The Area of India. (Read more HERE).
Could combining biotech and photosynthetic cyanobacteria help the energy crisis? (Read more HERE).
Researchers help reveal a 'blueprint' for photosynthesis (Read more HERE).

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That’s all folks!

Thanks again for joining us this week. Hope you have a great day and stay tuned for more algae tech updates soon!

Peter

The Paxtier Report