French Algae Startup Algama Foods Receives €2M Grant From the European Commission

, the French startup created in 2013, an expert in the replacement of animal proteins by microalgae, is the winner of the call for projects launched by the European Commission. This €2 million grant is aimed at creating alternatives to products from fishing and aquaculture.

With this funding, Algama plans to finalise the R&D of its “Seafood Algternative” innovation, a vegan range of products imitating smoked salmon strips and tuna flakes. The grant will also allow Algama to recruit around 20 people to support the growth of this forward-looking project.

The blue economy and in particular SMEs play a crucial role in supporting coastal communities and decarbonisation in Europe. Launched on 26 March 2021 under the European Maritime Affairs and Fisheries Fund (EMAF), the European call “Blue Economy Window – 2020” is designed to support the market introduction of new products, services and business models to develop a European, sustainable and innovative blue economy. Aimed exclusively at innovative SMEs in the maritime sector, this grant, with an initial amount of €20 million, selected 11 projects, including Algama’s.

“This financial support from the European Commission validates our strategy, initiated several years ago, to develop 100% plant-based and textured food solutions thanks to algae and microalgae. This new generation of products is a real breakthrough compared to current initiatives on the market, Seafood Algternative is a credible and scalable response to the major food challenges”, said Alvyn Severien, CEO & co-founder of Algama.

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