Thai Union invests in Algama to setup algal biorefinery in Liege

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Type of post: NEWS IN BRIEF.

Thai Union has announced that its Corporate Venture Capital (CVC) Fund has joined other strategic and financial partners investing in France-based Algama’s 13 M€ Series A fundraising round. The funding in this round will be used to accelerate commercialization of innovations, development of new applications, and setup of a new 10,000 m2 biorefinery in Liege (Belgium).

Figure 1. Vegan tuna and smoked salmon alternatives developed by Algama (Credit: Algama)

Founded in 2013, Algama leverages its algae innovation platform to offer co-development and industrialization of algae-based ingredients for F&B players looking to replace animal protein and / or fortify their products. Algama’s flagship product, the Tamalga® range of ingredients, replaces eggs in many industrial applications, particularly in bakery and pastry. The investment in Algama, and further collaboration, will support the future growth of Thai Union’s Alternative Protein business, coupled with exploration of other specialized ingredients especially for marine products.

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