The blue economy is getting stronger and has more projects in the pipeline. Among them is AlgaeProBanos, an EU-funded project with a duration of four years and a budget of more than EUR 12 million (USD 12.9 million), of which around EUR 1 million (USD 1.07 million) will be contributed by smaller and medium-sized enterprises (SMEs). Its objective is to harness the unique properties of algae to create new high-value products for a range of applications.
This is how the EU Horizon Europe program project supports stakeholders in the Baltic and North Seas. The way to achieve the circular, carbon-neutral blue economy, in this case through algae.
"Only a decade ago, the cultivation and use of algae in Europe was very much at the research stage. Today, many large-scale industry players are highly interested in algae as a new bio-resource to improve the environmental footprint of their products," said Angela Schultz-Zehden, CEO of the SUBMARINER Network. "AlgaeProBANOS will make a big contribution to mainstreaming the use of algae in very different industries throughout Europe, making it an everyday commodity for future generations."
The algae industry is not only on trend but promises significant sustainable and economic benefits in the medium term. This is because algae are versatile and can be cultivated without using fresh water, arable land, or added fertilizers and pesticides.
Through this project, the 26 partners and affiliated entities of the AlgaeProBANOS consortium will build acceleration networks and digital solutions. Furthermore, the Baltic Sea and North Sea regions will witness the simultaneous implementation of six commercial pilot projects. These projects will utilize micro and macroalgae for various applications, including food, feed, nutraceuticals, textiles, cosmetics, and plant biostimulants.
The project aims to bring eight innovative algae-based products. The objective: to run out to the market to meet the growing demand for high-quality, environmentally friendly bio-based circular products.
This initiative is also part of the EU's Mission to Restore our Oceans and Waters. An initiative that seeks to restore the health of our waters through research and innovation, citizen participation, and investments.
