Swedish-based Swedish Algae Factory secures support from big investment fund

Sustainable aquaculture investment fund Aqua-Spark recently announced it has decided to invest in Sweden-based startup Swedish Algae Factory.

The young company was founded by Sofie Allert and Angela Wulff back in 2016 and uses algae to convert effluent water produced by recirculating aquaculture systems (RAS) into organic biomass that can be used for fish feed or fertilizer. The resulting byproduct of this process, branded Algica, is of value mostly to the personal care and solar industries as it has the ability to replace other harmful chemicals. 

“We are really excited that with this injection, we’ll be able to increase production and meet the growing demand for Algica in the personal care and solar energy industries,” – Allert. 

Swedish Algae Factory offers a circular model for RAS farmers in which its algae cleans up wastewater, absorbs carbon dioxide, and develops nutrient-rich organic biomass that can be used for fish feed or fertilizer. 

Investment fund Aqua-Spark, that makes investments in sustainable aquaculture businesses that generate investment returns, is a primary investor in Swedish Algae Factory’s latest round of funding, which will help the company extend production.

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