<div>
  <ul>
    <li>
      <p>
        French producer of microalgae-based alternative protein, Algama, has raised EUR 13 million (~USD 14 million) in a Series A funding round with participation from Thai Union&rsquo;s corporate venture fund and other strategic investors.
      </p>
    </li>
    <li>
      <p>
        The funds raised will be used to expedite the commercialization of products and development of innovations, as well as setting up a new 10,000 squared meters biorefinery in Liege, Belgium.
      </p>
    </li>
    <li>
      <p>
        Apart from its flagship Tamalga range, the company is in the process of developing &ldquo;Seafood Algternative,&rdquo; a plant-based alternative for salmon strips and tuna flakes.
      </p>
    </li>
    <li>
      <p>
        <b>Analyst QuickTake: </b>
        Plant-based seafood is a rather slow-moving segment compared to other plant-based alternatives. Algama would be able to leverage Thai Union&rsquo;s extensive knowledge of the industry and seafood products to fine-tune their new products and also access a wider market through Thai Union&rsquo;s distribution channels. Furthermore, 
        <a href="https://sp-edge.com/updates/12620">
          in 2022
        </a>
        , Thai Union partnered with alternative seafood producer, The Ish Food Company, as part of its sustainability efforts under Thai Union&rsquo;s global 
        <a href="https://seachangesustainability.org/">
          SeaChange commitment
        </a>
        .
      </p>
    </li>
  </ul>
  <p>
  </p>
</div>


<div>
  <p>
    <a href="https://thefishsite.com/articles/french-algae-producer-lands-13-million-investment">
      The Fish Site
    </a>
  </p>
  <p>
    <a href="https://vegconomist.com/investments-finance/investments-acquisitions/thai-union-invests-microalgae-producer-algama-foods/">
      Vegconomist
    </a>
  </p>
</div>


All Updates

Algama raises EUR 13 million in Series A funding round

Algama Foods receives a EUR 2 million EU grant