Fermentalg raises €12 million in financing
October 1, 2013
ibourne, France-based Fermentalg has successfully completed its third round of financing and raised €12 million in funding that will enable it to roll out the production of molecules of interest on an industrial scale. France’s Ecotechnologies Fund contributed €4.6 million to Fermentalg’s capital increase, alongside IRDI and Viveris Management, as well as historic investors Emertec gestion, Demeter Partners, ACE Management (Atalaya), Picoty Algo Carburant and Sofiproteol.
Managed by Bpifrance’s equity investments arm, Bpifrance Investissement, on behalf of the French state, the Ecotechnologies Fund is part of the “Programme d’Investissements d’Avenir” or “Program of Investments for the Future,” entrusted to the Environment and Energy Management Agency, the ADEME. The Ecotechnologies venture capital fund invests from €1 million to €10 million in co-investments with private players, targeting equity capital and quasi-equity capital operations for minority stakes in innovative SMEs that are primarily located in France and are not listed on the markets.
Founded in 2009 by Pierre Calleja, Fermentalg has developed technologies for breeding microalgae used in the industrial production of molecules of interest for a variety of markets, from food and animal feed to specialty chemicals, health, cosmetics and biofuels. The creation in 2011 of Prolealg, a joint venture with Sofiproteol that uses these technologies in the wide-scale production of omega-3 derived from microalgae, represents Fermentalg’s strategy to achieve new market share by drawing on the industrial sector expertise of benchmark players.
“I am extremely honored by the faith of our new and prestigious investors, starting with Bpifrance, as well as by their recognition for this technology and our capacity to rapidly scale up to industrial exploitation. By joining forces, we have the potential to make Fermentalg a leader in the industrial production of microalgae. I would also like to thank our longstanding shareholders who have once again confirmed their confidence in our potential to create value,” said Pierre Calleja, founder, Chairman and Chief Executive Officer of Fermentalg.