ALGIECEL receives funding from the BioInnovation Institute (BII) and will use the funds for the construction and testing of a novel mobile container-based photobioreactor utilizing algae to sequester CO2 emissions from industrial processes. The CO2 will be turned into highly valuable commodity products such as omega-3 oils and protein and omega-3-rich biomass to be used in food and feed products.
Copenhagen & Odense, 16 March 2022
ALGIECEL was founded to take part in solving the challenge of converting the CO2 emissions from today´s production processes into feasible business opportunities. The Company uses natural microalgae organisms, a highly compact and high-yield photobioreactor technology fitted into standard shipping containers and a new revenue-sharing business model to offer carbon capture as a service to industrial clients.
The Company’s vision is to make it easy for clients to remove millions of tonnes of CO2 annually from industrial production without hurting the clients’ bottom lines. The CO2 will be turned into highly valuable commodity products such as omega-3 oils and protein and omega-3-rich biomass to be used in food and feed products.
ALGIECEL positions itself not primarily as the provider of a novel photobioreactor technology easy to install, scale and operate. The Company has designed a novel business model that transforms the cost challenge of CO2 removal and potential emission penalties into a profitable business opportunity across the entire value chain through revenue sharing from derivative product sales.
“We are very pleased to have been accepted into the Venture Lab programme and to have received funding from BII”, says ALGIECEL CEO Henrik Busch-Larsen. “Having such a well-renowned partner on board is not only beneficial from a financing perspective but is also a seal of approval of the technology and the proposed business model. It has been a pleasure working with the BII team, and I would like to thank the team for their support and commitment.”
Maria Henriques de Jesus, Business Developer, BII, and ALGIECEL Anchor, states: “We are very excited about having ALGIECEL in the BII Venture Lab programme. We are especially excited about the combination of an interesting technology and the revenue-sharing business model. We are looking into some very exciting months for the company.”
The BioInnovation Institute Foundation (BII) is an international non-profit foundation supported by the Novo Nordisk Foundation. BII operates an incubator to accelerate world-class life science innovation that drives the development of new solutions by early-stage life science start-ups for the benefit of people and society.
About ALGIECEL
ALGIECEL was founded in mid-2021with the vision of making CO2 removal cost-neutral and has undergone a high-paced development process. A core team of highly skilled people has been established, and a pilot design project has been completed in close collaboration with skilled partners such as RobLight, Böhme and AN Group. Furthermore, a collaboration agreement has been signed with the Danish Technological Institute (TI), and the pilot photobioreactor, currently under construction as part of the Venture Lab programme, will be installed at the TI premises in May 2022.
On the commercial side, interest in the technology and the opportunity has been positive, demonstrated by Letters of Interest signed by potential technology clients, such as biogas plants, as well as by potential buyers of the algae-based derivative products.
ALGIECEL was founded by Henrik Busch-Larsen, who also co-founded Unibio, a leading sustainable protein company. Unibio applies microbial fermentation to convert natural gases, including bio-methane, into high-quality and sustainable protein for fish and animal feed.
ALGIECEL is bound by its Articles of Association to always strive towards seeking green technological solutions.
ALGIECEL
Henrik Busch-Larsen, founder and CEO
Phone: +45 21296974
E-mail: hbl@algiecel.com
www.algiecel.com
