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🇫🇮 Origin by Ocean Empowers the Chemical Industry with Algae-Based Solutions

June 22, 2023
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Press release from Voima Ventures

Origin by Ocean, a Finnish start-up committed to revolutionising the chemical industry, has secured an impressive seed funding of €7.5 million. The company’s mission is to detoxify the chemical industry by offering sustainable, algae-based alternatives to traditional oil-based solutions, driving positive change and environmental stewardship.

Led by an exceptional team, Origin by Ocean has emerged as a trailblazer in the quest for sustainable solutions. Mari Granström, CEO and founder of Origin by Ocean, envisions a future where harmful chemicals are replaced with algae-based ingredients, effectively combating environmental degradation and creating sustainable business opportunities. Granström’s visionary leadership drives the company’s mission to produce high-quality, sustainable ingredients for global consumer brands while simultaneously cleaning up coastal areas affected by invasive algae.

Origin by Ocean’s algae-based solutions are revolutionising the industry with their superior functional properties and end-to-end sustainability. By sourcing raw materials from countries impacted by eutrophication, the company ensures a truly sustainable biorefinery-based production chain from start to finish. This approach not only addresses the pressing need for sustainable alternatives but also generates economic growth in affected regions.

The range of value-added functional ingredients offered by Origin by Ocean finds applications in diverse sectors such as cosmetics, detergents, food, and textiles. By replacing crude oil as a raw material, these ingredients not only fulfil the requirements of global industries but also contribute to the preservation of the environment.

With the recent seed funding of €7.5 million, Origin by Ocean is poised to spearhead the establishment of an industrial-scale algae refinement plant. The funding comprises €3 million from private investors including Voima Ventures, Lifeline Ventures, Batofin, and Security Trading, alongside a €4.5 million loan from Business Finland. This financial support is vital for piloting large-scale algae refining and commercialising the process, accelerating the company’s mission to transform the chemical industry.

Inka Mero, Managing Partner at Voima Ventures, emphasises the importance of sustainable bio-based solutions for everyday life and commends Origin by Ocean for its unique and innovative technology. Mero recognises the potential impact of the company’s end-to-end sustainable approach and its significant contribution to reducing emissions and eliminating toxic products from the market. The collective efforts of Origin by Ocean and its investors align with the European Union’s Blue Bioeconomy Strategy, aimed at addressing marine eutrophication and preserving marine life for future generations.

Origin by Ocean’s commitment to a sustainable future in the chemical industry is not only commendable but also lucrative. The industry is valued at an impressive $4.7 trillion, and the company’s unique approach positions it as a frontrunner in this transformative journey.

As Origin by Ocean continues to forge ahead, driven by its female leadership and unwavering dedication to sustainability, it paves the way for a future where the chemical industry is synonymous with environmental stewardship, economic growth, and social responsibility.


Originally published on 21 June. 

Country

finland