Start-up of Europe's largest microalgae R&D&I and production center in Spain

Spain's biotech Microalgas Future, which, according to information from the local newspaper Diario de Navarra, aims to become the largest European center for R&D&I and industrial production of microalgae, started up this week. Its main focus will be the construction of research laboratories and modern cultivation areas for three species of microalgae.

In another Spanish media, Diario El Referente, the company's CEO, José Ramón Pérez, defined the startup as "one of the most challenging and inspiring projects of recent years, where we will combine new aspects and applications related to health, cosmetics, and food supplements, as well as others closely linked to decarbonization processes, wastewater recovery, and circular economy."

EUR 4 million funding for start-up

Microalgas Future has started with initial funding of EUR 4 million (USD 4.3 million). However, the biotech company has valued the project at a total of EUR 30 million (USD 32.4 million). Of this, according to information from the Diario de Navarra provided by the Europa Press agency, the company intends to raise half - EUR 15 million (USD 16.2 million) - through public investors and the remaining EUR 15 million through private participants.

With these initial 4 million, the main short-term objective will be the construction and start-up of the first 20,000 square meters of large-scale cultivation based on a microalgae biorefinery model for the extraction of active compounds. Its initial capacity will be 60 tons per year of spirulina biomass, the first of the three microalgae strains on which the startup will focus.

In addition to spirulina, Microalgas Future will cultivate haematococcus and Schyzochitrium. Vegetable protein will be obtained from the first, antioxidants from the second, and vegan Omega 3 from the third. Moreover, they have components that can be used in sectors such as food and pharmaceuticals.

Facilities ready and in production by early 2025

The immediate plans of the company are to close this summer the agreement for the disposition of the land in the area of Ribera de Navarra - a Spanish region located in the Ebro valley that covers the south of the Community of Navarra -.  A few months ago, Diario de Navarra reported that Tudela, a town in the zone, was the most likely candidate to house the headquarters of the project, but this has not yet been confirmed.

Microalgas Future's goal is to have the facilities ready and in production by early 2025. Given the magnitude of the project, it will be carried out in different stages, but the Spanish company foresees the creation of some 60 jobs in these first phases. Then, once the project is completed, the research laboratories will have capacity for 25 researchers, both national and European, as it aims to become an international reference center.

Given that Europe produces only 0.8% of the world's algae and microalgae production, those in charge of what aims to become Europe's largest microalgae R&D&I and production center have highlighted the potential of this type of project within the European Union, whose institutions seek to strengthen these economic aspects in order to be less dependent on foreign markets.