Algaia raises 2.2 million euros and continues to invest in algae plant-based

French marine raw material supplier Algaia announced that it has completed 2.2 million euros of financing to continue to promote double-digit growth.

One of Algaia ’s main growth engines is the new algae-based solution VegAlg series of new products, aimed at improving the shape and structure and adding juiciness to plant-based burgers; and the alginate series products used in processing cheese thickeners.

 Continuous investment, strong growth

 Over the past three years, Algaia has invested a total of 7 million euros in the Algaia plant in Ranilly, Brittany, France, and another 1 million euros in its research and development facility in Saint-Lô, Normandy. At the Sanno plant, an industrial pilot production line was completed in 2019.

Frederic Faure, director of business development at Algaia, said that in 2019, sales of Algaia increased by 17%, and sales increased by 25% in the first four months of 2020. The company is growing at a double-digit growth rate in nutrition and cosmetics, and the active ingredients used in plant care products are growing at a three-digit rate. Sales in all market segments have increased significantly. Consumer demand for vegetarian products is higher, so VegAlg recently launched a series of new algae-based products. New products account for 30% of Algaia's sales.

 Make the vegetable flesh more juicy

 Creating plant-based meat is very challenging because it is difficult to imitate the taste, structure and texture of meat products. The new Algogel MVA series is specifically designed for meat substitutes and can replace cellulose products traditionally used to improve the structure of vegetable protein products.

Alginate improves the interaction between protein, lipid and water components in the food system. Algogel helps these ingredients form a stable structure in a natural way, improving texture and flavor, thereby creating a juicy vegetarian burger that consumers love.