Formica Ventures invests in Swedish Algae Factory

mars 17, 2020

Formica Ventures participates in an investment round in Gothenburg-based Swedish Algae Factory, led by Aqua-Spark Netherlands based Aqua-Spark is the first investment fund solely focused on sustainable aquaculture.

Swedish Algae Factory extracts a unique nanoporous silica material from diatoms, a unicellular microscopic algae. The material has exceptional light-altering properties as well as the ability to absorb or release particles depending on its surrounding environment. Branded Algica, the material is of interest to a variety of industries, where it can replace harmful and/or less efficient chemical substances. For example, Algica can e.g. be used to improve the efficiency of solar panels and for moisturizing, cleansing and ultraviolet light protection in personal care products.

The production is circular; the algae cleans wastewater, absorbs carbon dioxide and also creates a nutrient-rich organic biomass that can be used for e.g. fish feed or fertilizer.

The funds will contribute towards scaling production so that Swedish Algae Factory can continue to expand and meet the growing demand.

For more information, please contact:

Teresa Enander, Formica Capital
+46 739 17 86 91
teresa.enander@formicacapital.se

Formica Ventures is the venture-arm of Formica Capital, a Swedish investment company with a long-term ownership horizon owned by the Olsson Eriksson family. Formica Ventures creates value and positive impact through investing in companies that clearly contributes to a sustainable future. Formica Ventures only co-invests together with well-reputed international Venture investors. www.formicacapital.se

Aqua-Spark is a global investment fund with a mission to transform the global aquaculture industry into one that is healthier, more sustainable and more accessible. They invest in companies that are solving some of the industry’s big challenges while bringing returns that are comparable to today’s traditional industry. The portfolio works as an ecosystem, with the companies agreeing to collaborate on optimal solutions and working together toward this shared vision of a more efficient global aquaculture industry.