Firglas, the microalgae cultivation specialist, has secured £1.37m funding to build two new commercial-scale facilities in the Netherlands and Spain. The company is currently at the design detailing stage.
The global aquafeed – fishfeed – market alone is set to be worth $165bn by 2022 according to Radiant Insights and algae is increasingly recognised as an important alternative source of protein and Omega-3, among other nutritional compounds. Firglas has been active in the sector for over five years, successfully running a pilot plant in the Netherlands for three years. The algae is grown in closed photobioreactor systems containing water and salt, allowing year-round production. It also releases oxygen to the atmosphere.
Fredrik Adams, Firglas CEO commented: “It is very exciting and extremely valuable. This type of production has been used for decades for pharma and cosmetic uses.”
Ben Prior, CEO of Earthworm, commented: “Algae production has huge global potential not only in animal feedstock, but also ultimately as a high protein food supplement. We are always looking to expand our community with innovative solutions to environmental and social issues, and meeting the growing global food demand is critical. We are delighted to be backing Fredrik and the team.”