POWER TO X IS MORE THAN FUEL - and its project partners receive funding of DKK 18m (EUR 2.4m) from EUDP!
Summary
The utilization of CO2 will efficiently take place through photosynthesizing microalgae while generating biomass and bio-oil towards industries such as cosmetics, food, aquaculture feed, biofertilizer and bioplastics.Once finalized, the project intends to demonstrate to the world how future biogas and fermentation clients of the ALGIECEL carbon utilization as a service technology can valorize their CO2 emissions to the benefit of everybody in the value chain.This project takes ALGIECEL one step closer to reaching our goals of commercially reducing carbon emissions while providing feasible business opportunities to those supplying the CO2 and those downstream companies benefitting from getting access to low-carbon microalgae-based products.CEO and founder of ALGIECEL Henrik Busch-Larsen comments: Receiving such a significant grant from EUDP and having such well-renowned partners included in the project is a very important stamp of approval for our technology and business offering. We have some exciting years ahead of us!Flemming Funch, VP for Engineering, Sourcing and Facility Services at Novozymes states: Partnering up with ALGIECEL to demonstrate the CO2 removal technology is one of our strategic sustainability bets. As for now, product samples have been sent out to various companies within different industries for testing.In addition to this, we are thrilled to announce that ALGIECEL is rapidly growing, and two non-executive members have been added to the board.ALGIECEL was founded to take part in the challenge of transforming today\xb4s CO2 emissions into feasible business opportunities. Dette giver Novozymes mulighed for at opfange CO2 fra vores processer, som ellers ville v\xe6re sv\xe6re at fange, da m\xe6ngden anses for at v\xe6re for lille til store P2X-projekter. Teamet bag ALGIECEL har h\xf8jt kvalificerede medlemmer med ledererfaring fra kendte selskaber som M\xe6rsk, Falck, ISS, Nestl\xe9, COWI, Chr.