From plant-based meat to algae: Nick Hazell's new venture raises $1.1m
Algenie, the latest venture from v2food founder Nick Hazell, aims to revolutionise sustainable materials by dramatically reducing the cost of algae production. It's just raised $1.1 million in early funding.
Nick Hazell, the former founder and CEO of plant-based meat company v2food, has set his sights on a new frontier in sustainable technology: algae.
His latest venture, Algenie, is developing a novel growth platform that he hopes can produce algae in quantities large enough to potentially replace fossil fuels in the production of plastics and other materials.
While algal blooms occur regularly in nature and can spread quickly, growing algae commercially has always been a challenge because of issues with controlled cultivation and efficient harvesting at scale.
The enormous costs to produce it have meant it's not yet a viable commercial alternative for many products that use fossil fuels, even though it instead relies on CO2 and renewable energy to grow, effectively reducing pollution.
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