MiAlgae
Upcycling distillery co-products into sustainable Omega-3 algae.
- dt and ls
- biotechnology
- sustainable development goals
- climate tech
- spinout
- dietary supplements
- superfood
- circular economy
- recycling
- bluetech
- waste reduction
- blue economy
- alternative protein
- farming
- eitclimatecleantech
- water tech
- algae
- synthetic biology
- water treatment
- wastewater treatment
- aquaculture
- air & environment
- water management
- vegan
- enabler of alternative proteins
- recycling and waste
- chemical
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| - | investor investor investor | €0.0 | round |
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| investor investor investor investor investor | €0.0 | round | |
* | £14.0m | Series A | |
| Total Funding | 000k | ||
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MiAlgae is a biotechnology company that has developed a process to produce Omega-3-rich microalgae for animal and fish feed. The company utilizes co-products from the whisky distillation process as a feedstock, positioning itself as a circular economy solution. This approach aims to reduce reliance on wild-caught fish, the traditional source of Omega-3s, thereby addressing overfishing and its impact on marine ecosystems.
Founded in 2016 by Douglas Martin, the company originated while he was pursuing an MSc in Synthetic Biology and Biotechnology at the University of Edinburgh. Martin, now the CEO, was inspired to find a better use for algae after an algal bloom disrupted his work in the North Sea. He co-invented the company's patented process and has been recognized as a Forbes Under 30 honoree. The company's product, NaturAlgae, is a dry powder with a high concentration of DHA and other oils that can be added to recipes for aquaculture and pet food. MiAlgae's business model involves providing a more sustainable disposal service for Scottish distilleries by upcycling their co-products into a higher-value product.
The company operates from its base at Heriot-Watt University's Edinburgh campus and has a demonstrator site in Balfron, Stirlingshire. Following successful scaling at its demonstrator site in 2023, MiAlgae has secured significant funding to build a new industrial-scale production facility. As of late 2024, the company had raised a total of £20 million, including a £14 million Series A round to accelerate commercialization and meet demand from the aquaculture, pet food, and human health sectors. The company was also a 2024 finalist for the Earthshot Prize, an award founded by Prince William.
Keywords: Omega-3, microalgae, aquaculture feed, pet food, biotechnology, circular economy, sustainable feed, whisky distillation, upcycling, fish oil alternative, animal nutrition, bioprocessing, DHA, sustainable agriculture, food security, fermentation, water recycling, agri-tech, marine resources, NaturAlgae