6 years ago

MiAlgae Secures £1 Million Funding to Scale Sustainable Aquaculture Feed

  • MiAlgae, a biotech startup based in Edinburgh, Scotland, secured £1 million in funding from Equity Gap, Scottish Investment Bank, Old College Capital, and Hillhouse Group

  • The company plans to use the funds for commercializing its microalgae product, expanding its business premises, commissioning a demonstrator plant, and hiring new staff

  • MiAlgae leverages co-products from the whisky distillation process to produce microalgae rich in omega 3 and other nutrients, providing sustainable feed for fish and animals.

      • ProblemTechnology

      "The global aquaculture industry is facing a significant challenge in finding sustainable and cost-effective sources of omega-3 fatty acids for fish feed."

      Solution

      "MiAlgae has developed a sustainable and innovative solution to this problem by using byproducts from the whisky distillation process to grow microalgae rich in omega-3s. This algae can be used to feed fish, providing a more sustainable and cost-effective alternative to traditional fishmeal."

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