Creator of microalgae-based ingredients to replace foods such as eggs, the Ile-de-France gem with 38 patents in 21 countries aims to feed people in a more virtuous way for health and for the planet. It targets manufacturers and catering players, all over the world, to support them in finding alternatives to animal proteins. Algama wins the “Tech for Future 2024” prize, the largest startup competition in France organized by La Tribune, in the Environment and Energy category. “Algae is the greatest biodiversity on earth! », Enthuses Alvyn Severien, co-founder and CEO of Algama. Present in seas, lakes or rivers, they come in a myriad of species which sometimes grow in extreme conditions and can reproduce infinitely. And above all, they contain very high levels of proteins and lipids, such as omega 3, among other nutrients, opening up an immense field of possibilities in various sectors, including the food industry. In fact, they can replace proteins of animal origin. While many laboratories are advancing science in this area, “the difficulty, until now, has been finding how to use it, with the right cost, the right method and good quality,” notes the young boss. This is precisely where the innovation of this Ile-de-France start-up, which he co-founded in 2013, lies. “We have succeeded in transforming algae into real usable ingredients,” summarizes this graduate of the School of Mines. . From biomass to finished product The nugget sources the microorganisms it uses, notably spirulina and chlorella, from local producers, located mainly in France and Europe. The algae is recovered in the form of biomass. Then, the Algama R&D platform, based in Malakoff and made up of doctoral students and engineers in molecular biology and agronomy, sets about transforming this biomass into food ingredients, via solvent-free processes. An innovative approach which has so far resulted in the filing of 38 patents in 21 countries. Finally, the young growth, which collaborates with research organizations such as the National Museum of Natural History (MNHN), the Cnrs and the Inrae, positions itself throughout the chain of the process, up to « supporting our customers on a finished product which corresponds to specifications, with criteria of price, flavor, practicality or lifespan,” explains Alvyn Severien. Result, « a replacement (editor’s note: of a classic food) without the slightest affect on taste, but using less water or land, as well as emitting less greenhouse gases », assures -he. In short, “more sustainable and healthier”, since without allergens or cholesterol. And all, according to him, at an advantageous cost. Focus on eggs This is also the reason why the product on which Algama is banking at the moment is an alternative to the egg, capable of replacing it in different products ranging from pancakes to mayonnaise, even if the nugget has developed some others that can replace dairy, meat or seafood products. The reason? Eggs represent “a large market which has a real need for transformation”, estimates Alvyn Severien. Indeed, in a context of energy and raw materials crisis, in particular, “the price of eggs has increased two or three times in Europe and up to ten times in the United States,” he says. This complicates the equation, in particular for “players who have made a commitment to move away from battery eggs in favor of free-range eggs, a more expensive and less available offering,” argues the manager. Thus, the nugget targets, as a supplier of ingredients, companies in the agri-food industry, in the pastry sector in particular, but also restaurant chains which seek to plant-based their recipes. To supply them, it has established several regional partnerships to produce these algae-based food substitutes, and is preparing to put into production a factory in Belgium, in Liège, next year, which should allow it to exit up to 200,000 tonnes of “egg equivalent” per year.
Heading towards the international
To go further, the startup is now working hard on its commercial development. “We have discussions all over the world, but we mainly focus on Europe, North America, the Middle East and North Africa,” confides the leader, who has just returned from a presentation of its innovations at a foodtech conference in San Francisco. To support its deployment, the young company is preparing a second institutional fundraising round (Series B), after having so far raised a total of 28 million euros, whether from industrial players such as the Mexican industrial pastry group. Bimbo or the Thai fishing and seafood processing company, Thai Union Group. International venture capital funds (Noshaq, Horizon Ventures, Blue Horizon Ventures, CPT Capital, Veginvest, Beyond Invest, Alvyn Capital, etc.), and French and European public actors such as Bpifrance, the Regions or the European Commission, have also financed the company.
“The products and the customers are there,” assures Alvyn Severien. The fact remains that startup activity in this sector “requires a long time. We must not underestimate the resources required, both human and financial,” says the co-founder of this company which today has around forty employees, mainly engineers.
Well underway, Algama remains on course. With one ambition: to democratize the use of microalgae in human food to one day better feed, in a more virtuous way, both in terms of health and the environment, the world population.
“Tech for Future” is the largest startup competition in France. Organized by the editorial staff of La Tribune, it is supported by official partners such as Mission French Tech, Bpifrance, Business France, BNP Paribas, Dalkia, Deloitte, BeTomorrow, INPI, the Ministry of Overseas Territories, Orange, The Box and BFM Business. It consists of a tour in January and February in all territories (11 stages including 8 in mainland France and 3 overseas), to identify innovations that are changing the world in all areas. At the end of this tour, 51 startups from all territories were awarded prizes. Among them, La Tribune revealed at the Grand Rex in Paris, on March 28, the 10 big winners for 2024. After its victory during the selection in Ile-de-France, Algama Foods won the Environment & Energy prize from Tech for Future 2024 .
