News

Algatechnologies in winning consortium

30 Nov 2016

Algatechnologies has announced it is part of the FoodConnects consortium, the winner of a pan-European competition on the Food4Future call.

Algatechnologies has announced it is part of the FoodConnects consortium, the winner of a pan-European competition on the Food4Future call. This Knowledge and Innovation Community (KIC) has broad coverage in EU member states and associated countries (Israel), being a unique partnership of 50 leading companies, universities and scientific partners covering the entire food value chain.

Algatech was chosen by the KIC leaders to be the sole algae player participating in the €1,200 million initiative. It will work within EIT Food to develop new food sources from microalgae utilizing its technologies and expertise. Each of the consortium partners is committed to jointly transforming the way in which we produce, distribute and consume our food. Over the next seven years, the partners will invest close to €1,200 million matched with up to €400 million financed by the EIT.

Algatech has initiated discussions with other KIC partners to review and select innovative algae sources with important nutritional properties as potential food sources.

“The EIT Food program meets our vision to invest in the development of unique microalgae ingredients which can improve nutrition for human well-being,” said Hagai Stadler, CEO of Algatechnologies. “Microalgae contains key ingredients for humans and will become an increasingly important element of our future diet”.

“With our leading R&D team and cutting edge technology , Algatech is aiming to realise this vision. We totally agree with the open funding pre-competitive investment concept, which will de-risk research via collaboration and leverage both commercial and academic capabilities for a common purpose. We consider it an honor to be invited to such a notable group, and are totally committed to playing our part as we work towards mutual success.”