Algae photobioreactor technology specialists Lgem have secured expansion funding from Navus Ventures.
Lgem, a leader in algae photobioreactor technology, has secured funding from Navus Ventures to allow Lgem to grow its AlgaeHUB de-risking facility, international sales of production systems, and continued research and development. The investment amount was not disclosed.
Lgem produces microalgae at their cutting-edge AlgaeHUB — a unique 7000 m² facility near Amsterdam Schiphol Airport, where potential clients can evaluate the full range of Lgem’s production units. De-risking allows clients to validate their business case “on a commercially relevant scale” based on Lgem’s range of photobioreactors, from 20 to 1,000,000 liters.
AlgaeHUB, Lgem’s unique platform, intends to bridge the gap between supply and demand of algae products, diminishing the investment risks of the emerging biotech industry. As a result, Lgem offers high-quality and industrial-scale photosynthetic production of a broad range of microalgae and its derived ingredients and products.
Navus Ventures is part of a family office linked to Lely (farming innovators) and plans to actively support Lgem in developing and scaling high-tech hardware and software.
“We see great potential in micro algae as a driver of more sustainable food and feed ingredient production, and Lgem is providing a key enabling technology that allows others in the industry to move from research to business,” said Eduard Meijer, Managing Director at Navus Ventures. “Lgem is a perfect fit with our strategy and background, and we are looking forward to our active collaboration.”
“We are thrilled to partner with Navus Ventures as a shareholder, which will not only allow us to learn from Lely’s past experiences but also enhance our industrial and supply chain capabilities,” said Bas Swildens, CEO at Lgem.
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Carbon black is a powdery by-product of the incomplete combustion of fossil fuels that is used as a cheap and effective ink. A recent carbon black market report suggests that 14 million tons of the substance are currently produced for use in multiple industries worldwide to produce a variety of goods ranging from rubbers, plastics, inks and more.
As a by-product of fossil fuel combustion, carbon black poses a threat to natural ecosystems. In 2021, it was listed in the US Plastic Pact as one of the 11 “problematic and unnecessary” materials to be eliminated by 2025.
Luckily, a new kind of black made from algae is catching public attention as it could replace conventional carbon-based tints, promoting a positive impact on the environment. —Nina Purton
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