Algarithm

Algarithm develops and supplies value-added algal ingredients for food, beverage, and dietary supplement applications.

Algarithm Ingredients is a Canadian B2B supplier of microalgae-derived omega-3 solutions including oils, powders, emulsions, and softgels, for dietary supplements, infant formula, and food and beverages. The company also has operations in the US, UK, and Thailand.

Empowering sustainable food innovation through food engineering tech

Alternative Ingredients

Algarithm produces plant-based omega-3 ingredients derived from microalgae for use in supplements, nutraceuticals, food, beverages, and infant nutrition products. The company's AlphaMega3 algal DHA oil is sourced from wild-crafted microalgae (Schizochytrium sp) discovered in Nova Scotia's Bay of Fundy, providing a minimum of 400mg/g of omega-3 DHA. Using an environmentally-friendly, chemical-free extraction process, the company eliminates taste and odor from its oils, making them suitable for food and beverage applications. In November 2020, Algarithm launched thetamega3, a line of algal omega-3 concentrates with formulations including 650mg/g DHA and 750mg/g DHA, featuring over 90% triglyceride content. The company's ingredients are certified by various regulatory bodies including The Non-GMO Project, The Vegan Society, Health Canada, and the European Food Safety Authority. Algarithm received recognition as Saskatchewan's Exporter of the Year in September 2022 for its international market performance and contribution to the provincial economy through job creation. In March 2023, the company expanded its manufacturing capabilities through a partnership with Thai Union Ingredients, which included access to a new omega-3 oil refining facility in Rostock, Germany, enabling them to enter the infant formula market.

Canadian Flavors

Algae Processer Named Saskatchewan’s Exporter of the Year « Saskatchewan Trade & Export Partnership (STEP)

3 DHA Algal Oil Awarded Non

Good Things, Smaller Packages: Algarithm Ingredients Launches New Line Of Vegan Omega-3 Concentrates, thetamega3

Algarithm ramps up competition in omega-3 market with new partnership

Fish-free Omega-3 Straight from the Source

Algarithm Ingredients and De Wit Speciality Oils partner for European expansion

Algarithm Ingredients and De Wit to provide food companies with algal based omega-3 lipids

Unlocking nature's benefits for elevated wellness

Functional Nutrition Ingredients

Algarithm produces plant-based omega-3 ingredients derived from microalgae for use in supplements, nutraceuticals, food, beverages, and infant nutrition products. The company's AlphaMega3 algal DHA oil is sourced from wild-crafted microalgae (Schizochytrium sp) discovered in Nova Scotia's Bay of Fundy, providing a minimum of 400mg/g of omega-3 DHA. Using an environmentally-friendly, chemical-free extraction process, the company eliminates taste and odor from its oils, making them suitable for food and beverage applications. In November 2020, Algarithm launched thetamega3, a line of algal omega-3 concentrates with formulations including 650mg/g DHA and 750mg/g DHA, featuring over 90% triglyceride content. The company's ingredients are certified by various regulatory bodies including The Non-GMO Project, The Vegan Society, Health Canada, and the European Food Safety Authority. Algarithm received recognition as Saskatchewan's Exporter of the Year in September 2022 for its international market performance and contribution to the provincial economy through job creation. In March 2023, the company expanded its manufacturing capabilities through a partnership with Thai Union Ingredients, which included access to a new omega-3 oil refining facility in Rostock, Germany, enabling them to enter the infant formula market.
Key customers and partnerships
Notable customers include Good Catch Foods and Sol Cuisine in the plant-based food sector, and Zahler in the kosher vitamin market. In October 2022, Algarithm collaborated with Natures Crops International to develop Ahiflower 80DHA and 150DHA omega oil blends. The company established a distribution partnership with De Wit Speciality Oils in November 2023 to expand its presence in the European market for infant formula, supplement, and food companies. In March 2023, Algarithm partnered with Thai Union Ingredients to enhance its R&D capabilities and manufacturing initiatives.

Algarithm Ingredients is a Canadian B2B supplier of microalgae-derived omega-3 solutions including oils, powders, emulsions, and softgels, for dietary supplements, infant formula, and food and beverages. The company also has operations in the US, UK, and Thailand.The company’s products have received certifications from numerous respected regulatory bodies, including The Non-GMO Project, The Vegan Society, Health Canada, and the European Food Safety Authority.Key customers and partnershipsIn November 2023, Algarithm entered a multi-year distribution partnership with <a href="https://sp-edge.com/updates/23755">De Wit Speciality Oils</a>, a leading seed cultivation and oil production company, to promote algae-based omega oils in Europe. This partnership builds upon a similar agreement with Thai Union Ingredients, signed in February 2023, to advance the production and distribution of nutritional oils. Previously, in October 2022, the company also partnered with Natures Crops, a specialty oils supplier, to produce two entirely new omega oil blends for supplement, food and beverage ingredient usage.

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 California Cultured is a producer of cocoa products such as cocoa powder, chocolate, cocoa butter, and flavanols using plant cell culture technology by taking biopsies from selected cacao plants. The company developed its research based on Criollo cacao varieties, fine-tuning cell lines for specific flavors. In August 2022, the company announced that it was working on the development of cell-cultured coffee.
 
 
 As of December 2022, the company was building its 12,100 sq m facility in West Sacramento and had begun building its pilot plant. As of July 2023, the company was finalizing production methods, with the aim of a commercial launch by 2025&ndash;2026, following FDA approval.
 
 
 Key customers and partnerships
 
 
 In 2022, California Cultured partnered with VTT, a Finnish national research institute, to develop cell lines for cell-cultured coffee. 
 &nbsp;In 
 <a href="https://sp-edge.com/updates">
 February 2023
 </a>
 , the company inked a 10-year commercial partnership with Japanese chocolate corporation Meiji to incorporate its cell-based cocoa into Meiji's products. This collaboration marked the first global use of cell-cultured chocolate.
 
 
 Funding and financials
 
 
 California Cultured received undisclosed investments from investment platforms focused on clean, lab-grown food such as CULT Food Science (February 2022) and Blue Horizon (March 2022). In October 2021, the company raised USD 4 million in seed funding led by Agronomics to expand its R&amp;D activities.
 
 
 
 .
 
</div>

California Cultured

Nukoko is a UK-based company that produces 100% cocoa-free chocolate peanuts made from locally sourced fava beans using a biotransformation and precision fermentation process. It also uses a microbial library of cocoa flavors to match chocolate in terms of flavor, thickness, and texture.As of October 2023, the company had opened a limited product launch and sold out the first batch of cocoa-free chocolate nuts, with a full launch planned for 2025 for the EU/UK markets as a B2B ingredients supplier. The company claims to produce 90% less carbon emission per kg than conventional chocolate&nbsp;and its chocolate alternatives contain 40% less sugar and higher protein, fiber, and antioxidants than traditional chocolate.&nbsp;

Nukoko

<div>
 
 Win-Win (WNWN Food Labs prior to 
 <a href="https://sp-edge.com/updates/27014">
 February 2024
 </a>
 ) is a London-based producer of cocoa-free chocolate using plant-based ingredients such as grains/cereals and legumes through a proprietary fermentation process. The company's cocoa-free chocolate can be used in candy bars, confectionery, cookies, chocolate coatings, ice cream, and beverages. It claims to use 90% less water and emit 80%&ndash;90% less greenhouse gases than regular chocolate.
 
 
 In May 2022, Win-Win was operating on a lab scale, capable of producing between 300kg and 600 kg (~661 and 1,323 lbs) of chocolate per month. In November 2022, the company began expanding its facility in Hackney Wick, increasing its production space 8x. In November 2023, the company expanded its plant-based milk chocolate to bakeries, foodservice, confectionery groups, and CPG/FMCG companies 
 <a href="https://sp-edge.com/updates/24144">
 worldwide
 </a>
 .
 
 
 The company had previously introduced limited-edition cocoa-free products via D2C channels: dark chocolate thins at GBP 10 (~USD 13) per box (May 2022) and the Waim! Bar priced at GBP 8 (~USD 9) for a pack of three bars (September 2022). In March 2023, the company finalized the recipe and process for a line of milk chocolate products that are cocoa- and dairy-free and contain both oats and tiger nuts. The company also experimented with an alternative chocolate ice cream bar at the H&auml;agen-Dazs Start-Up Innovation Challenge in June 2023.
 
 
 Key customers and partnerships
 
 
 In September 2023, Win-Win partnered with the UK department store Fortnum &amp; Mason to showcase its cocoa-free chocolate and technology, including a demonstration and tasting during Fortnum's Harvest Week. In December 2022, the company partnered with Milan-based luxury gift service DLISH to include its specialty chocolate hazelnut gianduja, a northern Italian confection, in DLISH's holiday gifts. In December 2023, the company completed the 
 <a href="https://sp-edge.com/updates/24805">
 CoLab Tech accelerator
 </a>
 with Mondelēz International and showcased its cocoa-free chocolate bars, truffles, and coated biscuits at Mondelēz's North American headquarters.
 
 
 Funding and financials
 
 
 In February 2023, Win-Win raised GBP 4.5 million (~USD 5.6 million) in Series A funding to scale up manufacturing and increase headcount in anticipation of its UK retail launch.
 
 
 
</div>

Win-Win

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 Planet A Foods is a Germany-based startup that makes cocoa-free chocolate ChoViva (formerly NoCoa/QOA) via precision fermentation of oats and sunflower seeds. It then uses proprietary micro-bacteria and flavor formation processes to create a vegan product that mimics the texture and flavor of chocolate. In addition to Germany, ChoViva focuses on Austria and Switzerland, with expansion plans to the US in 2024.
 
 
 Planet A Foods produces cocoa-free chocolates by blending cocoa-free ingredients: a cocoa powder substitute (ChoViva Concentrate) and a cocoa butter substitute (ChoViva Butter). ChoViva represents Planet Foods' debut cocoa-free chocolate product, created using Planet A Foods' cocoa concentrate alternative. The chocolate is produced in-house at Planet A&rsquo;s facility in the Czech Republic. As of October 2023, the ChoViva range included 21 products with prices ranging from EUR 0.5 to EUR 9.95 (~USD 0.53 to USD 10.48).
 
 
 Additionally, the company was in the process of developing its cocoa butter alternative through precision fermentation technology, using single-cell oils and fermentation byproducts. As of October 2023, the company was shipping this fat to early customers for R&amp;D purposes.
 
 
 The company asserts that its chocolate product could be 10x more sustainable, 20% cheaper, and emit about 92% less than conventional chocolate while also using 30% less sugar and 94% less water.
 
 
 Key customers and partnerships
 
 
 In April 2023, the company partnered with German online retailer Confiserie Seidl to launch ChoViva, its first sustainable chocolate line. The brand sees itself as a B2B player, after partnering with oat cereal maker K&ouml;lln on a new line of vegan mueslis using the company's cocoa-free chocolate in September 2023. In December 2023, ChoViva teamed up with 
 <a href="https://sp-edge.com/updates/24997">
 Lindt
 </a>
 to launch a special edition chocolate bar for Veganuary, named &quot;Soft &amp; Creamy Hazelnut.
 
 
 In 
 <a href="https://sp-edge.com/updates/26955">
 February 2024
 </a>
 , Planet A Foods partnered with REWE Group, Germany&rsquo;s second-largest supermarket chain, to supply ChoViva for REWE Group&rsquo;s own-label cocoa-free products.
 
 
 Funding and financials
 
 
 In its latest funding round in 
 <a href="https://sp-edge.com/updates/26176">
 February 2024
 </a>
 , the company raised USD 15.4 million in Series A funding led by World Fund, with participation from Omnes Capital, Cherry Ventures, Nucleus Capital, and others. The funds were earmarked for additional scientist hires to bolster its 50-person team in Germany to increase the production of cocoa butter and palm oil alternatives on an industrial scale.
 
 
 
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Planet A Foods

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 Atomo Coffee is a developer of beanless coffee that comes in two flavors: 1) regular beanless coffee with 100 mg of caffeine per serving made from date seeds, ramon seeds, sunflower seed extract, pea protein, millet, lemon, guava, and defatted fenugreek seeds and 2) decaffeinated (decaf) beanless coffee. The company claims to be the world's first beanless coffee maker.
 
 
 The company&rsquo;s products are available for retail purchase at 
 <a href="https://sp-edge.com/updates/23234">
 Gumption Coffee
 </a>
 in New York. In addition, the company began taking pre-orders for wholesale at a price of USD 20.99 per pound (as of October 2023).
 
 
 The company also plans to open a facility in March 2024 that can annually produce four million lbs of ground coffee, made from upcycled date pits (~80 million cups).
 
 
 Atomo's brews reportedly use 94% less water and produce 93% less carbon emissions than traditional coffee.
 
 
 Key customers and partnerships
 
 
 In July 2022, the company partnered with Minor Figures, a vegan products company, to launch the 8-ounce canned Oat Milk Latte, a beanless cold brew, one of Atomo's first focus products.
 
 
 Funding and financials
 
 
 In June 2022, the company raised USD 40 million in a Series A funding round for product development and to scale up manufacturing. In November 2023, the company secured an undisclosed multi-million dollar investment from Japanese beverage leader 
 <a href="https://sp-edge.com/updates/24577">
 Suntory Holdings
 </a>
 to strengthen its international distribution.
 
 
 
</div>

Atomo Coffee

Companies providing technology related to fortification, cell culture, and fermentation and those supplying equipment including bioreactors and fermenters for the production of novel foods

Companies offering salt substitutes to reduce sodium content in foods and beverages

Companies developing natural sweeteners and solutions to reduce sugar content in foods and beverages

Companies creating natural flavor, texture, and coloring ingredients from plant-based sources like seaweed and algae

Companies producing chocolate without cocoa using ingredients like oats, seeds, and cell-cultured cocoa

Companies making coffee substitutes from ingredients like barley, date seeds, and sunflower seeds

Companies offering plant-based alternatives to honey and nut spreads, addressing dietary restrictions and allergies

Companies producing cooking oils and fats through fermentation, cell-cultured and plant-based extraction processes

Companies developing protein ingredients via cell-culture or fermentation for dietary supplements and food production, excluding plant-based or cell-cultured meat

Transforms raw materials into novel, sustainable food products with minimal environmental impact

Certified Nutraceuticals specializes in developing bio-active ingredients for foods, beverages, and supplements. The company holds 16 US patents for ingredients and extraction processes related to pomegranate, olive leaf, grapevine extracts, and jellyfish collagen. The company pioneered the introduction of Collagen Types I, II, and III as nutritional supplements and developed three collagen ingredients: KollaGen II-xs, kollaGen I.V.X.HEM, and TendoGuard Joint and Tendon Support, which contains collagen types I, II, V, and X. In 2001, the company patented a unique method to extract collagen from chicken sternums, used in products for joint pain relief and mobility restoration. Their ingredients support healthy aging, joint health, brain health, and cognitive function. The company's manufacturing processes comply with Fair Trade criteria, eco and dietary regulations, FDA guidelines, and Kosher and Halal requirements. All products undergo analysis in accordance with the Federal Drug Administration and Cosmetics Act and the Fair Packaging and Labelling Act. The company provides comprehensive services from initial product development to manufacturing, filling, and product launch, including logistics and disposition.
Key customers and partnerships
The company maintains an international network of distributors, wholesalers, and manufacturing partners. Among these partnerships is a collaboration with Nutraceuticals Agriceuticals Technology Company (NATCO), a leading supplier of organic monk fruit and persimmons, which operates farms and factories in Guilin, China.

Certified Nutraceuticals

Nupromic is a biotechnology company that specializes in developing functional ingredients and next-generation nutraceutical products for the food industry. The company operates Mexico's first Beta Glucan production facility and manufactures differentiated ingredients used in fortified food production.

Nupromic

Beneo is a manufacturer of functional ingredients derived from natural sources including chicory root, sugar beet, rice, and wheat for food, feed, and pharmaceutical products. The company specializes in producing functional carbohydrates, fibers, and proteins that improve nutritional and technical properties of various products. Its portfolio includes Isomalt and Palatinose (sugar beet-derived carbohydrates), Orafti Inulin and Oligofructose (chicory root fibers), and wheat and rice proteins. These ingredients are used across multiple applications including dairy, confectionery, bakery, cereals, baby food, and beverages to enhance taste, texture, and nutritional benefits. In May 2022, Beneo acquired Meatless B.V., a Dutch supplier of textured plant-based ingredients, expanding its capabilities in meat and fish alternatives. The company has six production facilities located in Belgium, Chile, Germany, Italy, and the Netherlands. Beneo invested EUR 7.7 million in March 2022 to quadruple storage capacity at its Offstein, Germany facility with a new automated warehouse capable of storing over 8,500 pallets. In 2022, the company also announced a EUR 50 million investment in a new fava bean processing plant in Offstein to produce protein concentrates, starch-rich flour, and hulls, scheduled for completion in late 2024.

Beneo

AlgaeCytes is a biotechnology company specializing in the cultivation of algae to produce health and wellness ingredients. The company utilizes an advanced photobioreactor system for algae cultivation, featuring enclosed glass tubing and LED lighting to stimulate photosynthesis. AlgaeCytes' patented process optimizes the photosynthetic process, allowing microalgae to flourish and produce valuable compounds. The system regulates light, nutrient supply, and temperature, enabling efficient and consistent production year-round, regardless of external weather conditions.
The company's primary focus is on producing omega-3 oils from microalgae as an alternative to fish-derived sources. This approach offers several advantages, including suitability for vegetarian diets, reduced pressure on fish stocks, and the ability to avoid potential contamination with trace heavy metals sometimes found in fish oil supplements. AlgaeCytes' method allows for the production of high-quality omega-3 oils with variable EPA:DHA ratios, catering to different formulation requirements.
In February 2018, AlgaeCytes joined the ProFlow consortium, which secured an Innovate UK grant of nearly GBP 630,000 for a two-year development program. The consortium aims to scale up a novel acoustic cell harvesting technology developed by LabXero, which could significantly reduce the costs associated with separating algal biomass from its culture medium. This technology uses resonant sound waves to create an acoustic barrier, separating water from microalgae without the need for energy-intensive centrifugation techniques. The development of this technology could potentially lower downstream processing costs, which constitute a substantial portion of total processing expenses in algae-based omega-3 production.

AlgaeCytes

Seed Health is a microbiome science company founded in 2015 by Ara Katz and Raja Dhir. The company focuses on developing probiotics and living medicines to impact both human and planetary health. Seed Health's flagship product is DS-01, a daily synbiotic (probiotic + prebiotic) supplement formulated with 24 clinically studied bacterial strains targeting digestive, cardiovascular, dermatological, and immune health. In May 2024, the company launched vs.-01, a vaginal synbiotic clinically validated to establish an optimal vaginal microbiome dominated by Lactobacillus crispatus.
Seed Health utilizes a full-stack platform that encompasses discovery, product development, and clinical research. The company employs bioinformatics and computational analyses to interrogate the role of the microbiome in overall health and design targeted probiotics. In April 2024, Seed Health introduced CODA, a computational biology platform powered by the Human Phenotype Project, which integrates over three million phenotypic data points from more than 13,000 individuals. This platform aims to develop next-generation precision probiotics and microbiome-directed interventions for areas including metabolic health, brain health, menopause, and longevity.
The company's research extends beyond human health to environmental applications through its SeedLabs division. This includes developing probiotics for honeybees to enhance their resilience against climate change-related stressors, as well as exploring microbial solutions for plastic degradation and soil health. Seed Health collaborates with leading scientists and research institutions to advance its work across various health domains, including vaginal health, skin health, oral hygiene, pediatrics, mental health, and nutrition.
Key customers and partnerships
The company has established partnerships with several academic and research institutions to further its scientific endeavors. In 2023, Seed Health announced a collaboration with the Swiss Institute of Allergy and Asthma Research (SIAF) to develop non-toxic, microbiome-safe home and personal care products. The company also partnered with Axial Therapeutics in 2022 to launch a Gut-Brain Development Program, focusing on translating research from Caltech into probiotic innovations for neuropsychiatric health.

Seed Health

Live beneficial microorganisms and non-digestible fibers to promote a balanced gut microbiome and improve digestive health

Plant-based extracts, fibers, and herbal ingredients with health-promoting properties like anti-inflammatory, adaptogenic, and antioxidant effects

Essential fatty acids and structured lipids such as omega-3 and amino acids that support heart health, cognitive function, and energy metabolism

Small protein fragments with targeted biological activities, such as boosting immunity, improving cardiovascular health, and reducing inflammation

Essential micronutrients and compounds that support improved immune system function, bone health, hair, and skin, among others

ANALYST_QUICK_TAKE

PROMINENT_CATEGORY

<div>
 
 <ul>
 <li>Algarithm Ingredients, a Canadian producer of algae-based omega-3 ingredients, has entered a multi-year distribution partnership with De Wit Speciality Oils, a leading seed cultivation and oil production company, to promote algae-based omega oils in Europe.</li>
 <li>Through this partnership, Algarithm expects to reach a wider audience by distributing its fish-free omega ingredient throughout Europe. The oils, which are rich in omega-3 and omega-6, will be used in nutraceuticals, food, cosmetics, and animal nutrition.</li>
 <li>Founded in 2017, Algarithm is a B2B supplier of microalgae-derived omega-3 solutions for dietary supplements, infant formula, and food and beverages. The company also has operations in the US, UK, and Thailand.</li>
 </ul>
 
</div> Algarithm Ingredients has partnered with De Wit Speciality Oils in a multi-year distribution agreement to promote algae-based omega oils in Europe. This partnership allows Algarithm to expand its reach throughout Europe by distributing its fish-free omega ingredient. The oils, which contain a high concentration of omega-3 and omega-6, will be used in various industries such as nutraceuticals, food, cosmetics, and animal nutrition. Algarithm, founded in 2017, specializes in providing microalgae-derived omega-3 solutions for dietary supplements, infant formula, and food and beverages. The company operates in Canada, the US, UK, and Thailand. Analyst QuickTake: The partnership represents a significant step forward in creating an efficient European algae omega-3 supply chain. The collaboration also builds on Algarithm's partnership with <a href="https://www.prweb.com/releases/algarithm-ingredients-inc-and-thai-union-ingredients-sign-multi-year-exclusive-partnership-836016237.html"> Thai Union Ingredients </a> earlier this year for the supply of algae-based omega-3 lipids. Previously, in October 2022, the company also partnered with <a href="https://nutraceuticalbusinessreview.com/news/article_page/Algarithm_partners_with_Natures_Crops_on_new_omega_oil_blends/204305"> Natures Crops </a> , which is also a partner of De Wit Speciality Oils for new omega oil blends.

Algarithm

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