ALGBIO - CO2 capture from flue gas and phycoremediation of wastewater via microalgae for carbon negative biofuels/bioplastic production with the circular economy model

Project Information

ALGBIO

Grant agreement ID: 101113683

DOI

10.3030/101113683

Project closed

EC signature date 2 June 2023

Start date 1 July 2023

End date 31 March 2024

Funded under

• European innovation ecosystems

Total cost

No data

EU contribution

€ 75 000,00

Coordinated by

ALGBIO ENERJI ARITIM VE MUHENDISLIK ANONIM SIRKETI
Türkiye

Periodic Reporting for period 1 - ALGBIO (ALGBIO - CO2 capture from flue gas and phycoremediation of wastewater via microalgae for carbon negative biofuels/bioplastic production with the circular economy model)

Reporting period: 2023-07-01 to 2024-03-31

Summary of the context and overall objectives of the project

Algbio is a deeptech company that treats wastewater and captures CO2 with microalgae to produce biofuel and bioplastic. Algbio enables the transition from the fossil based economy to the sustainable manufacturing with circular model. Both algal biofuel and bioplastics align with growing industry preferences for eco-friendly alternatives and contribute to resource efficiency and waste reduction, making them promising solutions in the shift towards a more ecologically viable future.

Within Algbio Women TechEU project we aimed to:

- To undertake testing and demonstrations and identify the technical maturation activities
- To define the features and robustness of produced bioproducts
- To identify potential customers and their needs
- To address the environmental, regulatory and socio-economic issues
- To conduct a market analysis along with refining the go-to-market approach
- To undertake a NPA to ensure the freedom to operate

Work performed from the beginning of the project to the end of the period covered by the report and main results achieved so far

-We have implemented the ALGBIO in an operational environment and conducted a comprehensive evaluation of the test results
-Novel production methodologies and formulations were meticulously developed, employing rigorous scientific approaches to enhance efficiency and efficacy
-We've implemented significant biotechnological advancements across the algae-based biofuel and bioplastic production
-We have analyzed the outcomes of the assessments, encompassing technical findings and prospective enhancements, to validate and refine our system
-We have accomplished the progression of our TRL from 5-6 to 7
All these efforts led to advancements in CO2 capture, renewable energy and sustainable material production indicating both scientific progress and potential commercial applications.

Progress beyond the state of the art and expected potential impact (including the socio-economic impact and the wider societal implications of the project so far)

We have performed the following activities:

- We have mapped our target market, customers and competitors
- We have identified needs and the European manufacturing industry
- We have identified key target early adopters in Türkiye and EU
- We have established marketing & commercialization strategies to increase Algbio visibility and started collaborative relationships with key strategic partners
- We have performed several NPA to establish our freedom to operate
- We have attended different events for promotion and marketing including Women Leadership programme by EIC, EIC Summit 2024 among other events.
- We had meetings with business coach for market research, pricing strategy, fundraising, business financials

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