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Algae specialist Phycom receives second round of funding to further strengthen growth

February 15, 2024

Together with a private investor, ROM Utrecht Region has invested €1.75 million in microalgae producer Phycom. This follows its recent Series A investment, bringing the total raised funding to more than €10.5 million in six months, consolidating Phycom's leading position in algae production. The microalgae producer in Veenendaal, The Netherlands, is honored that the ROM also endorses the future of food and funded microalgae production for healthy people and animals.

The debate over arable land use and its environmental impact has intensified within the primary food production and food-producing industry. As a result, the focus has shifted toward exploring alternative protein sources and more sustainable food options. Among these alternatives, microalgae stand out as particularly promising, offering both sustainability gains and health benefits. Overcoming previous challenges, Phycom has successfully developed an economically viable and scalable production method for high-quality microalgae, marking a significant breakthrough in the industry.

“ROM Utrecht Region invests in companies that make the world of tomorrow a better place," commented Juri van Dolderen, ROM Utrecht Region. "Phycom and its microalgae are a perfect fit, as microalgae are a critical element in the protein transition. Phycom can be a gamechanger for the industry and can significantly reduce the food industry’s enormous footprint. ROM Utrecht Region is proud to contribute to this important development.”

Since its start in 2008, it’s Phycom’s mission to improve and strengthen food availability and quality for humans and animals. Enter microalgae as a significant food source. The Phycom team spent the past four years building two production facilities in Veenendaal, proving the technology and scalability of microalgae production, through which it is already selling its products to the market. This extra capital infusion will optimize technology and scale up microalgae production and sales.

“This additional funding of ROM Utrecht Region boosts our confidence even more in the potential of our company and our algae products," stated Phycom's CFO Willem Kuijsten. "It paves the way to strengthen our proposition, growth of the organisation, and go-to-market strategy even further.”

"In our environmental strategy, we strive for a healthy, sustainable and safe Veenendaal," added Marco Verloop, Sderman of municipality Veenendaal, with the finance, economy and sustainability portfolio. "We also continuously improve our location policy, business climate and employer services. The investment of ROM Utrecht in Phycom fits within these ambitions, and we wholeheartedly applaud it."

If you have any questions or would like to get in touch with us, please email info@futureofproteinproduction.com

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