Algenuity Ltd is developing a next generation plant-based, microbial fermentation platform for the production of protein-rich whole cell Chlorella for mainstream global food and beverage applications.
The company’s incubation over several years within Spicer Consulting Ltd gave it the runway to develop a broad IP portfolio and deep scientific understanding of the biology and cultivation of microalgae with particular emphasis on scalable microalgae species with existing market presence and regulatory approvals.
During this research period, Algenuity developed and evolved strains of chlorophyll-deficient (i.e. non-green) Chlorella that are produced by high productivity fermentation in the dark using glucose as the carbon source, and have a subtle, neutral flavour and creamy mouthfeel, with the lead ingredient being white Chlorella. These ingredients are ideal for use as a “free-from” alternative to eggs and dairy where manufacturers wish to quickly build or launch their plant-based offerings or develop healthier, simpler, food and beverage formulations where superior flavour and mouthfeel is coupled with improved nutrition.
As well as the improved colour, Algenuity has developed unique knowhow related to evolving Chlorella to improve the macronutrient composition, bioavailability and sensory attributes. All of this knowhow is coupled with genome and proteome level understanding, underpinning the transparency and traceability and quality needed to take a new ingredient into mainstream global market adoption. The resultant ingredients, contain a complete source of functional plant-based protein, health-promoting fibre, fats, micronutrients and minerals including B vitamins and vitamin C, E, K, plus manganese, zinc and iron and are strongly aligned with consumer expectations and the emerging market.
These new, sustainable and highly scalable, plant-based protein-rich ingredients are being enthusiastically embraced by Food and Beverage multinationals as well as innovative start-ups with joint development agreement (Unilever) and production (Mara Renewables Corporation) partnerships already formed; commercial product launches are planned in 2023 across food categories.
In 2020, Algenuity demerged from Spicer Consulting Limited, becoming an independent limited company and is busy raising substantial Series A investment capital in order to deliver the ambition, exploiting the substantial commercial traction it has already gained within the Food & Beverage sector.
For the last five years of its incubation period, Qi3 has been advising Algenuity on its strategic development. Qi3’s Robin Higgons joined the Industry Advisory Board to help Algenuity assess potential market opportunities and align its scientific and development programmes with market needs.
As the Food & Beverage market opportunity emerged, Robin gave additional strategy advice on commercialising Algenuity’s new Chlorella product line. Finally, as Algenuity span out from its parent company, Robin advised Algenuity’s CEO, Andrew Spicer, on preparations for raising significant investment capital to accelerate Algenuity’s development.
“Qi3’s rigorous methodologies for assessing potential markets and Robin’s extensive experience of bringing new technologies to market contributed an incisive and refreshing clarity to the discussions of the Industry Advisory Board. Robin’s wider experience in advising start-up companies on preparation for raising investment funds was particularly helpful as Algenuity looked to its future business models with regard to capitalising upon the deep knowhow and converting that appropriately into commercial success, returning value to the shareholders. Robin was a consistent supporter of the quality of the team and the knowhow, while also balancing the appropriate level of challenge with regard to business direction and approaches to extract market value and deliver business success over time. Qi3 always had Algenuity’s objectives in mind and provided clear, insightful advice. I would be pleased to recommend Qi3 and particularly Robin to you.