Fermentalg, a Libourne, France-based industrial biotechnology company that specializes in the bio-production of chemical compounds from microalgae found in everyday products, raised €12m in its third round of funding.
Backers included the Ecotechnologies Fund, which is managed by Bpifrance on behalf of the French state (€4.6m), IRDI, Viveris Management and existing investors Emertec gestion, Demeter Partners, ACE Management (Atalaya), Picoty Algo Carburant and Sofiproteol.
The company intends to use the funds to roll out the production of molecules of interest on an industrial scale and on large and fast-growing markets.
Founded in 2009 by Pierre Calleja, Chairman and Chief Executive Officer, Fermentalg developed of technology for breeding microalgae used in the industrial production of molecules of interest for markets including food and animal feed, specialty chemicals, health, cosmetics and biofuels. In 2011, the company created Prolealg, a joint venture with Sofiproteol, which uses this technology in the wide-scale production of Omega-3 derived from microalgae.
24/01/2011: Fermentalg Raises €5.3M in Second Funding Round