ALGIECEL Raises DKK 50m (EUR 6.5m) in New Funding

Algiecel has raised DKK 50m (EUR 6.5m) in equity funding, in a round led by West Hill Capital. The company’s innovative microalgae-based technology links CO2 utilisation with biology to serve the feed and food industries, creating a more sustainable food system. After the successful inception of its pilot plant in 2022, Algiecel will use these new funds to scale up to a full-size demonstration plant in the EUDP supported CAPCO2 project with Novonesis. Significant commercial interest has already been secured for its high-value microalgae-based biomass and bio-oil, and application trials are currently underway.

From fields to supermarket shelves, the world faces an urgent need to feed a growing population sustainably. We are struggling with climate change and potential crises in our food systems. As these challenges multiply, innovative solutions are more critical than ever.

This is where Algiecel steps in. The company provides multiple sustainable solutions through one innovative bio-based technology. Rooted in biology and inspired by nature, Algiecel offers a breakthrough for various industries across the value chain. CO2 emitters can now capture and supply CO2 directly to Algiecel’s on-site bioreactors, where low-carbon algae-based ingredients are produced. Companies using these ingredients can reduce their carbon footprint while offering high-quality, sustainable products across feed, food, dietary supplements, and cosmetics. The larger benefit to society is a reduction in carbon emissions and a sustainable food system that requires less agricultural land and water.

With the new capital infusion, Algiecel is poised for an exciting future, transitioning from pilot operations to full-scale deployment. Building stronger partnerships with potential CO2 suppliers and securing additional ingredient off-take agreements will be key to the company’s future growth.

Henrik Busch-Larsen, Founder and CEO of Algiecel, stated:
“We are incredibly proud to have secured this significant capital for our scaling efforts. This funding allows us to take our technology and company to the next level in close collaboration with key partners like Novonesis. Algiecel is set-up to deliver low-carbon ingredients to the food and feed market, answering the demand for sustainable products and helping companies reduce their CO2 emissions.”