Whiskey for microalgae? MiAlgae lands US$2.7M for novel omega 3 production
29 Aug 2022 --- Biotechnology start-up MiAlgae has received £2.29 million (US$2.67 million) in funding to expand its production of omega 3s. The company’s process uses co-products from the production of whiskey as a growth medium for the microalgae.
“This funding will be used to complete our commercial demonstrator, which will act as the launch pad for expansion both locally and abroad,” Douglas A. J. Martin, managing director, MiAlgae, tells NutritionInsight.
“We have omega 3 oil extraction plans in our research pipeline and hope to launch an oil product in due course,” he states.
Alcohol and the circular economy
The funding will allow the company to stand up eight more bioreactors.
The company holds that its novel process allows them to utilize a circular economy through biotechnology to produce a source of environmentally sustainable omega 3s.
The process uses some of the products produced when distilling whiskey as feedstock to help grow the microalgae. These co-products are run through a series of pretreatments which help all the whiskey co-products nutrients available to the microalgae. The company holds that the process produces less CO2 emissions and preserves ocean ecosystems.
“In a nutshell we use the co-products of the whiskey industry to provide the nutrients for a special algal species that produce omega 3 oils. These algae are then harvested and processed to generate an omega 3 rich powder,” Martin explains.
Keeping the supply chains open
A recent report revealed Antarctic plankton responsible for producing omega 3s are less abundant in warmer waters. As the effects of climate change increase, this may lead to a deficit in the availability of omega 3s, a nutrient that the body cannot produce on its own.
Omega 3s have been found to alleviate depression, pain and inflammation among other benefits.
“MiAlgae’s process is able to produce omega 3 oils in a contained, controlled manner, effectively switching the omega 3 acquisition process from hunting omega 3s in the ocean to cultivating them on land,” stresses Martin.
The company says that they are transitioning from extracting omega 3s from the ocean to producing them on land.
Furthermore, a report published by the Changing Markets Foundation has called for a moratorium on Antarctic krill fishing, stating that the environmental impacts are unsustainable.
“As we scale up, we will be able to offer a supply of omega 3s that is independent of the ocean, thereby supporting any decreases caused by climate change,” underscores Martin.
Funding the future
The Edinburgh, UK-based company received the majority investment, £900,000 (US$1.1 million), from the Conduit Impact Fund which is managed by Ascension Ventures. Having already invested, Scottish Enterprise, Old College Capital and Equity Gap committed to additional funding of more than £1 million (US$1.2 million).
Moreover, a new investor, SIS Ventures, committed to an additional £350,000 (US$408,203). These new investments build on a grant of £850,000 (US$991,350) awarded by Scottish Enterprise and Zero Waste Scotland.
“The funding supports the roll-out of a further eight bioreactors and allows the company to generate commercially viable quantities of omega 3 rich algal powder,” Martin concludes.
By William Bradford Nichols
