Swedish Algae Factory, based in Gothenburg, has achieved a notable funding milestone of €3M from various investors, including Chalmers Ventures. This funding allows the company to accelerate market expansion and enhance production capabilities for their innovative Algaica material derived from diatoms. Founded in 2016 by marine ecology expert Angela Wulff and biotechnical engineer Sofie Allert, the company focuses on leveraging algae for climate-positive solutions while rapidly generating revenue from clients. Chalmers Ventures' investment director emphasizes the significant progress made by the company in developing sustainable green chemicals.
As green chemicals are something that we at Chalmers Ventures find especially interesting, we can't wait to see what sort of solutions diatom shells can be used to replace harmful products.
Swedish Algae Factory has done truly groundbreaking work by scaling their production while generating revenue with existing clients, something that takes deep tech companies usually a lot longer.
The company will use the funds to accelerate its market expansion and develop new applications.
The company was founded with the vision to showcase the power of algae as a raw material and the potential to create a climate-positive business using algae.
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