The Brevel phase 1 project for a solar based, internally-illuminated bioreactor for microalgae cultivation was set forth to perform a techno-economical feasibility study, an in-depth market and business assessment and a better understanding of the regulatory and IP implications.
During the project an industrial-sized cultivation system was constructed and multiple small-scale prototype systems were tested and fine-tuned in order to arrive at an estimate of capital and operational expenses needed for fully operational pilot and industrial scale farms. Accordingly, a pilot farm of 15 systems has been found to be economically viable, which is the aim for a subsequent phase 2 project.
Potential customers from the fish-feed industry, as well as experts in the field have been contacted and interviewed and accordingly, the business model has been updated to address the modified value proposition and marketing strategy. A market research has been conducted to map potential customers according to geography, size and openness to innovation.
Finally, risk, regulatory and IP assessments have been taken place and to our understanding the project is feasible and worth pursuing. As part of the project a patent has been filed and talks with potential investors have initiated in order to go forward with Brevel’s vision.