Periodic Reporting for period 1 - agroCYAN ECO (Highly efficient protein rich biofertilizer, 100% spirulina based, for agricultural yield increase and crop quality traits enhancement)
Berichtszeitraum: 2017-12-01 bis 2018-03-31
For 2050 the food demand will double due to the rising population. However, the area of land under cultivation cannot rise at the same rate and, to meet such food demand, productivity has to be increased, while increasing environmental sustainability. Therefore, we need clean fertilizers to avoid further damages to the environment and the climate. Besides, growers demand biofertilizers to meet the consumers demands for organic food. JARO Innovaciones has developed agroCYAN ECO, a liquid amino acid-rich biofertilizer obtained by enzymatic hydrolysis of the spirulina biomass. agroCYAN ECO increases crop yields up to 33% and improves the produce quality traits, being an efficient and sustainable alternative to traditional fertilizers.
Our overall goal is to bring agroCYAN ECO to market. To achieve reach such general goal, we aim at scaling-up our production process and to produce our own spirulina mass, the main raw material needed for agroCYAN ECO production. Furthermore, we aim at increasing the engagement of end-users and potential clients.
Our overall goal is to bring agroCYAN ECO to market. To achieve reach such general goal, we aim at scaling-up our production process and to produce our own spirulina mass, the main raw material needed for agroCYAN ECO production. Furthermore, we aim at increasing the engagement of end-users and potential clients.
From the technical point of view, the feasibility of agroCYAN ECO has been proved. During the last steps of development agroCYAN ECO production process has been improved : Reduction of energy and time requirement for production; Identification and optimization of the variables involved in the scale up of our manufacturing process; and Feasibility of producing our own spirulina mass. We have advanced in the commercial aspects of the project: FTO ensured and agroCYAN ECO trademark registered; and agroCYAN ECO certified as an input eligible for its use in organic agriculture in compliance with the Council regulations (EC) No. 834/2007 and the Commission Regulation (EC) 889/2008.
Moreover, from the socio-economic point of view, agroCYAN ECO shows a promising potential. Our three-year projections show that, with a requested investment of €1.5M for the full development and commercialization of agroCYAN ECO (and an initial investment of €0.18M already done), the ROI of the project will be 2,83 in three years and the payback will be reached during the second year, showing a good return compared to other bio-fertilizing solutions. Moreover, the company will reach a cumulative profit of €6.4 M for the company, while 17 and 15 new jobs will be created during and three years after the phase 2 project, respectively.