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Ittinsect raising funds with the help of BlueInvest

Ittinsect is an Italian company producing aquaculture feed with novel raw ingredients including insects, micro algae and agricultural by-products. Through the EU BlueInvest Readiness Assistance programme, the start-up successfully raised  €750,000 of which  €625,000 in equity from investors. The BlueInvest coach has played a key role in the success of the start-up by equipping it with the right skills to participate in fundraising rounds and by facilitating quality introductions to investors.

EU guidelines for sustainable and competitive EU aquaculture

The world has a growing appetite for fish and seafood. However, this demand cannot be satisfied by fisheries alone, to preserve biodiversity and fish stocks. Aquaculture has an increasing role to play in the European food system and in the restoration of the health of the sea. But conventional fish farming presents its own challenges. It has a lot of potential to become more competitive and resilient, as well as to improve its environmental and climate performance.

As outlined in the guidelines for sustainable and competitive EU aquaculture, diversification and increasing performance of European aquaculture’s production methods, will increase the resilience, competitiveness and sustainability of the food system.

Ittinsect’s aquaculture has zero impact on the ocean

The Italian start-up Ittinsect has taken up the challenge set by the EU guidelines. Through their innovative and unique biotech process, Ittinsect has created sustainable, high performance aquaculture feed, eight times more absorbable for fish digestion. The latter is produced through biotech treatment of novel raw ingredients including insects, micro algae and agricultural by-products. A fish receiving Ittinsect feed has a faster and more constant growth, a stronger immune system and a lower risk of digestive system inflammation compared to a fish subjected to traditional feed. In fact, there is a recorded 15% better growth compared to fish fed on traditional feeds.

Besides improvement in fish health and growth ratio, Ittinsect’s feed enables better feed conversion ratio at zero extra cost, with a FIFO (fish in – fish out) ratio of less than 1. By doing so, the company limits the need for ocean source fish by over 300 billion units and also reduces CO2 emissions in the aquaculture value chain.

BlueInvest – coaching and connecting companies with investors

Ittinsect’s journey with BlueInvest began in 2020 with their active participation in some of the BlueInvest events. In 2021, Ittinsect benefited from the BlueInvest Readiness Assistance programme and worked hand in hand with a knowledgeable coach, himself a successful entrepreneur in the field, to reach their business objectives.

In the words of founder and CEO, Alessandro Romano,

BlueInvest has always been really supportive of us. We were assigned a coach who was extremely suitable for our needs, also capable of understanding and guiding us on the technical and product development. It was a really positive experience.

Not only Ittinsect successfully finalised the design of a product they were developing by the end of the programme, but BlueInvest Readiness Assistance also equipped them with the right skills to participate in fundraising rounds, through quality inputs and advice from pertinent investors. The BlueInvest coach facilitated quality introductions to investors: Katapult Ocean and Indico Capital Partners. After receiving some regional grants in 2021, Ittinsect raised €625,000 in equity at the end of 2022, from the latter together with CDP Venture Capital and LVenture Group.

In the coming year, Ittinsect looks to increase its production and grow in the Italian market. The company also aims to raise further rounds of capital. With the knowledge gained through the Readiness Assistance program, the start-up is currently working to develop a functional ingredient to be included in salmon feeds by the end of the year and plans to launch complete feeds for sea bass and sea bream in June 2023. In 2024, Ittinsect seeks to raise a next round of investment amounting to a minimum of €4 million, with a focus on internationalisation and further scale up of the biotech production.

Background

BlueInvest Readiness Assistance is an exclusive EU coaching programme for high potential start-ups and SMEs in the EU with innovative and sustainable products and solutions for the blue economy. Businesses and projects selected for Investment Readiness Assistance will receive coaching packages tailored specifically to their readiness levels and business objectives. The programme is impact-driven, with a clear focus on providing business support to help start-ups and SMEs build capacities for growth and attract investment.

Interested? Apply now by registering to the BlueInvest Community and completing the dedicated Readiness Assistance application form. The current application deadline is the 7 April 2023. For any questions, reach out to lu_blueinvest@pwc.com.

Ittinsect’s BlueInvest Experience: BlueInvest Community,BlueInvestReadiness Assistance, BlueInvest Pipeline, BlueInvest e-Pitch sessions, BlueInvest Day

Ittinsect is an Italian company producing aquaculture feed with novel raw ingredients including insects, micro algae and agricultural by-products. Through the EU BlueInvest Readiness Assistance programme, the start-up successfully raised  €750,000 of which  €625,000 in equity from investors. The BlueInvest coach has played a key role in the success of the start-up by equipping it with the right skills to participate in fundraising rounds and by facilitating quality introductions to investors.

EU guidelines for sustainable and competitive EU aquaculture

The world has a growing appetite for fish and seafood. However, this demand cannot be satisfied by fisheries alone, to preserve biodiversity and fish stocks. Aquaculture has an increasing role to play in the European food system and in the restoration of the health of the sea. But conventional fish farming presents its own challenges. It has a lot of potential to become more competitive and resilient, as well as to improve its environmental and climate performance.

As outlined in the guidelines for sustainable and competitive EU aquaculture, diversification and increasing performance of European aquaculture’s production methods, will increase the resilience, competitiveness and sustainability of the food system.

Ittinsect’s aquaculture has zero impact on the ocean

The Italian start-up Ittinsect has taken up the challenge set by the EU guidelines. Through their innovative and unique biotech process, Ittinsect has created sustainable, high performance aquaculture feed, eight times more absorbable for fish digestion. The latter is produced through biotech treatment of novel raw ingredients including insects, micro algae and agricultural by-products. A fish receiving Ittinsect feed has a faster and more constant growth, a stronger immune system and a lower risk of digestive system inflammation compared to a fish subjected to traditional feed. In fact, there is a recorded 15% better growth compared to fish fed on traditional feeds.

Besides improvement in fish health and growth ratio, Ittinsect’s feed enables better feed conversion ratio at zero extra cost, with a FIFO (fish in – fish out) ratio of less than 1. By doing so, the company limits the need for ocean source fish by over 300 billion units and also reduces CO2 emissions in the aquaculture value chain.

BlueInvest – coaching and connecting companies with investors

Ittinsect’s journey with BlueInvest began in 2020 with their active participation in some of the BlueInvest events. In 2021, Ittinsect benefited from the BlueInvest Readiness Assistance programme and worked hand in hand with a knowledgeable coach, himself a successful entrepreneur in the field, to reach their business objectives.

In the words of founder and CEO, Alessandro Romano,

BlueInvest has always been really supportive of us. We were assigned a coach who was extremely suitable for our needs, also capable of understanding and guiding us on the technical and product development. It was a really positive experience.

Not only Ittinsect successfully finalised the design of a product they were developing by the end of the programme, but BlueInvest Readiness Assistance also equipped them with the right skills to participate in fundraising rounds, through quality inputs and advice from pertinent investors. The BlueInvest coach facilitated quality introductions to investors: Katapult Ocean and Indico Capital Partners. After receiving some regional grants in 2021, Ittinsect raised €625,000 in equity at the end of 2022, from the latter together with CDP Venture Capital and LVenture Group.

In the coming year, Ittinsect looks to increase its production and grow in the Italian market. The company also aims to raise further rounds of capital. With the knowledge gained through the Readiness Assistance program, the start-up is currently working to develop a functional ingredient to be included in salmon feeds by the end of the year and plans to launch complete feeds for sea bass and sea bream in June 2023. In 2024, Ittinsect seeks to raise a next round of investment amounting to a minimum of €4 million, with a focus on internationalisation and further scale up of the biotech production.

Background

BlueInvest Readiness Assistance is an exclusive EU coaching programme for high potential start-ups and SMEs in the EU with innovative and sustainable products and solutions for the blue economy. Businesses and projects selected for Investment Readiness Assistance will receive coaching packages tailored specifically to their readiness levels and business objectives. The programme is impact-driven, with a clear focus on providing business support to help start-ups and SMEs build capacities for growth and attract investment.

Interested? Apply now by registering to the BlueInvest Community and completing the dedicated Readiness Assistance application form. The current application deadline is the 7 April 2023. For any questions, reach out to lu_blueinvest@pwc.com.

Ittinsect’s BlueInvest Experience: BlueInvest Community,BlueInvestReadiness Assistance, BlueInvest Pipeline, BlueInvest e-Pitch sessions, BlueInvest Day

h2boat is reaching new markets thanks to BlueInvest

Italian start-up h2boat has developed a very promising hydrogen technology which reduces the CO2 emission of maritime transport. With the help of the EU initiative BlueInvest, it has received coaching to expand its business.

 

The challenge: reducing CO2 emissions

While maritime transport plays an essential role in the EU economy and is one of the most energy-efficient modes of transport, it is also a large and growing source of greenhouse gas emissions, representing 3 to 4% of the EU’s total CO2 emissions, or over 144 million tonnes of CO2 in 2019. As the EU moves away from its dependency on fossil fuel, renewable energy will play a key role in the future of maritime transportation, and for delivering on the aim set out in the European Green Deal of achieving carbon-neutrality in the EU by 2050. 

 

A solution for leisure boats: hydrogen

With green transportation gaining importance, the innovative Italy-based start-up h2boat is eager to revolutionise boating through its hydrogen technology that can be installed on both sailing or motorboats, potentially making them 100% energy sustainable and extremely functional. h2boat’s avant-garde product ‘Energy Pack’ comprises a system that uses hydrogen technology to make leisure boats autonomous in terms of their electrical needs on board.

It consists of three parts

  • a fuel cell, able to produce electricity from hydrogen
  • an accumulation system for storing large quantities of hydrogen safely at low temperatures and low pressures
  • an electrolyzer, producing hydrogen from water using excess energy produced from renewable sources 

The ‘Energy Pack’ efficiently integrates these components on board the boat and is virtuous and circular: it consumes water to store energy, it emits water to produce energy. It decisively contributes to the reduction of localised CO2 emissions while drastically reducing noise, odors and vibrations on board. It also contributes to the construction of zero-impact boats that can access otherwise closed marine protected areas

 

BlueInvest in action: h2boat receives coaching to reach new markets

With a customer base that comprises both B2C (mainly northern Europe, Benelux) and B2B clients (mostly in France and Italy), h2boat approached BlueInvest to improve its market and investment readiness and its reach to potential investors.

Through sessions with their BlueInvest coach, h2boat has specifically worked on its business plan to boost its growth. According to CEO Thomas Lamberti, in charge of the company’s R&D efforts, BlueInvest mentorship programme “helped us clarify our vision and refocus and adapt”. Initially focused on easier-to-build smaller hydrogen systems, h2boat reoriented its business priorities: it decided to focus instead on superyachts and megayachts in view of the sharp market rise for those larger boats. The start-up also shifted from the sole provision of its product to provision of services, knowledge and design, particularly for large applications, such as shipyards.

h2boat currently has ambitious fundraising plans and is hoping to convince prospective investors to offer them a reasonable valuation by the end of 2022.  

EU-supported BlueInvest Readiness Assistance is an exclusive coaching programme for high potential EU start-ups and SMEs with innovative and sustainable products and solutions for the blue economy. Businesses and projects selected for Investment Readiness Assistance will receive coaching packages tailored specifically to their readiness levels and business objectives. The programme is impact-driven, with a clear focus on providing business support to help startups and SMEs build capacities for growth and attract investment.

 

We have moulded our business model as per the needs of the market — and the demand is higher now for yachts. After Covid, the superyachts market saw a sharp rise. Thanks to BlueInvest, we were able to make the most of this opportunity.

Thomas Lamberti, CEO, h2boat

 

Interested? Apply now by registering to the BlueInvest Community and completing the dedicated Readiness Assistance application form. For any questions, reach out to us at lu_blueinvest@pwc.com

Italian start-up h2boat has developed a very promising hydrogen technology which reduces the CO2 emission of maritime transport. With the help of the EU initiative BlueInvest, it has received coaching to expand its business.

 

The challenge: reducing CO2 emissions

While maritime transport plays an essential role in the EU economy and is one of the most energy-efficient modes of transport, it is also a large and growing source of greenhouse gas emissions, representing 3 to 4% of the EU’s total CO2 emissions, or over 144 million tonnes of CO2 in 2019. As the EU moves away from its dependency on fossil fuel, renewable energy will play a key role in the future of maritime transportation, and for delivering on the aim set out in the European Green Deal of achieving carbon-neutrality in the EU by 2050. 

 

A solution for leisure boats: hydrogen

With green transportation gaining importance, the innovative Italy-based start-up h2boat is eager to revolutionise boating through its hydrogen technology that can be installed on both sailing or motorboats, potentially making them 100% energy sustainable and extremely functional. h2boat’s avant-garde product ‘Energy Pack’ comprises a system that uses hydrogen technology to make leisure boats autonomous in terms of their electrical needs on board.

It consists of three parts

  • a fuel cell, able to produce electricity from hydrogen
  • an accumulation system for storing large quantities of hydrogen safely at low temperatures and low pressures
  • an electrolyzer, producing hydrogen from water using excess energy produced from renewable sources 

The ‘Energy Pack’ efficiently integrates these components on board the boat and is virtuous and circular: it consumes water to store energy, it emits water to produce energy. It decisively contributes to the reduction of localised CO2 emissions while drastically reducing noise, odors and vibrations on board. It also contributes to the construction of zero-impact boats that can access otherwise closed marine protected areas

 

BlueInvest in action: h2boat receives coaching to reach new markets

With a customer base that comprises both B2C (mainly northern Europe, Benelux) and B2B clients (mostly in France and Italy), h2boat approached BlueInvest to improve its market and investment readiness and its reach to potential investors.

Through sessions with their BlueInvest coach, h2boat has specifically worked on its business plan to boost its growth. According to CEO Thomas Lamberti, in charge of the company’s R&D efforts, BlueInvest mentorship programme “helped us clarify our vision and refocus and adapt”. Initially focused on easier-to-build smaller hydrogen systems, h2boat reoriented its business priorities: it decided to focus instead on superyachts and megayachts in view of the sharp market rise for those larger boats. The start-up also shifted from the sole provision of its product to provision of services, knowledge and design, particularly for large applications, such as shipyards.

h2boat currently has ambitious fundraising plans and is hoping to convince prospective investors to offer them a reasonable valuation by the end of 2022.  

EU-supported BlueInvest Readiness Assistance is an exclusive coaching programme for high potential EU start-ups and SMEs with innovative and sustainable products and solutions for the blue economy. Businesses and projects selected for Investment Readiness Assistance will receive coaching packages tailored specifically to their readiness levels and business objectives. The programme is impact-driven, with a clear focus on providing business support to help startups and SMEs build capacities for growth and attract investment.

 

We have moulded our business model as per the needs of the market — and the demand is higher now for yachts. After Covid, the superyachts market saw a sharp rise. Thanks to BlueInvest, we were able to make the most of this opportunity.

Thomas Lamberti, CEO, h2boat

 

Interested? Apply now by registering to the BlueInvest Community and completing the dedicated Readiness Assistance application form. For any questions, reach out to us at lu_blueinvest@pwc.com

Aquaponics Iberia is growing thanks to BlueInvest

Today, 25% of seafood consumed in Europe comes from aquaculture, but only 10% comes from EU aquaculture. There is a huge growth potential. Aquaponics Iberia benefited from the EU BlueInvest mentorship programme to develop its business. The aquaculture sector in Europe consists of around 15,000 businesses in Europe, mainly small or micro-enterprises in coastal and rural areas.

 

A young Portuguese start-up growing fish and vegetables at the same time

Aquaponics Iberia is a young Portuguese start-up revolutionising the food system through efficient aquaponics with its locally-grown, fresh, and sustainable fish and greens. Aquaponics is the combination of aquaculture and hydroponics, enabling cultivation of plants and aquatic animals in a recirculating water environment. While the fish waste product nourishes the plants, the plants in turn purify the water in a closed and dynamic system for the fish to grow healthily. The benefits are two-pronged: healthy and sustainable food production and a lower environmental footprint.

Aquaponics Iberia approached BlueInvest for funding support for its Fish n’ Greens project, to set up a state-of-the-art facility in the Torres Vedras region, close to Lisbon. Fish n’ Greens is an aquaponics urban farm aimed at transforming the growing food needs in European cities. This facility is planned to include the company’s fully functional hi-tech aquaponics production system, a food store, a training room, guided tours for school groups and general consumers, a café?, a processing unit, renewable energies and a production capacity to generate 45 tonnes of fresh certified fish per year, together with 130 tonnes of fresh vegetables.

Perfectly in sync with the Farm to Fork strategy, this project’s unique sustainable ecosystem has the potential to increase Europe’s food chain resilience in case of possible crises.

 

How the EU has helped the company develop its business

With plans to have units in more than 8 European cities in the next 10 years, Aquaponics Iberia had a bumpy start, facing  objections from investors regarding the location in main cities, high rent and dependence on municipalities as well as consumer preference for saltwater fish.

This is where the BlueInvest mentorship programme came into play, helping Aquaponics Iberia to revamp and redevelop its business and marketing model. The company revisited its strategy and decided to put large facilities outside the city and have smaller food units and stores in the cities, with small demonstration units for consumers to view. This strategic review eventually helped the company reach a stage where it is getting more attention from public administrators and potential investors.. For instance, the Mayor of Torres Vedras Municipality has shown keen interest in Fish n’ Greens becoming the main fresh food supplier of the public schools’ canteens of the region (around 11,000 students).

BlueInvest also helped Aquaponics Iberia towards concretising investments.

The BlueInvest programme definitely helped us reach more investors — it seemed like a small step then, but now we are very close to receiving funding, and that is an accomplishment in itself.

says João Cotter, CEO and Co-Founder of Aquaponics Iberia.

With €4.5 million required to set up their first aquaponics integrated urban farm, the current challenge continues to be funding: 40% of the amount has been raised so far and the remainder is in talks with investors.

Securing the necessary investment would enable Aquaponics Iberia to concretise the Fish n’ Greens project and to provide a solution for local, fresh, healthy and sustainable food, bringing together blue and green economy to transform food in European cities.

Interested? Apply now by registering to the BlueInvest Community and completing the dedicated Readiness Assistance application form. For any questions, reach out to us at lu_blueinvest@pwc.com

Today, 25% of seafood consumed in Europe comes from aquaculture, but only 10% comes from EU aquaculture. There is a huge growth potential. Aquaponics Iberia benefited from the EU BlueInvest mentorship programme to develop its business. The aquaculture sector in Europe consists of around 15,000 businesses in Europe, mainly small or micro-enterprises in coastal and rural areas.

 

A young Portuguese start-up growing fish and vegetables at the same time

Aquaponics Iberia is a young Portuguese start-up revolutionising the food system through efficient aquaponics with its locally-grown, fresh, and sustainable fish and greens. Aquaponics is the combination of aquaculture and hydroponics, enabling cultivation of plants and aquatic animals in a recirculating water environment. While the fish waste product nourishes the plants, the plants in turn purify the water in a closed and dynamic system for the fish to grow healthily. The benefits are two-pronged: healthy and sustainable food production and a lower environmental footprint.

Aquaponics Iberia approached BlueInvest for funding support for its Fish n’ Greens project, to set up a state-of-the-art facility in the Torres Vedras region, close to Lisbon. Fish n’ Greens is an aquaponics urban farm aimed at transforming the growing food needs in European cities. This facility is planned to include the company’s fully functional hi-tech aquaponics production system, a food store, a training room, guided tours for school groups and general consumers, a café?, a processing unit, renewable energies and a production capacity to generate 45 tonnes of fresh certified fish per year, together with 130 tonnes of fresh vegetables.

Perfectly in sync with the Farm to Fork strategy, this project’s unique sustainable ecosystem has the potential to increase Europe’s food chain resilience in case of possible crises.

 

How the EU has helped the company develop its business

With plans to have units in more than 8 European cities in the next 10 years, Aquaponics Iberia had a bumpy start, facing  objections from investors regarding the location in main cities, high rent and dependence on municipalities as well as consumer preference for saltwater fish.

This is where the BlueInvest mentorship programme came into play, helping Aquaponics Iberia to revamp and redevelop its business and marketing model. The company revisited its strategy and decided to put large facilities outside the city and have smaller food units and stores in the cities, with small demonstration units for consumers to view. This strategic review eventually helped the company reach a stage where it is getting more attention from public administrators and potential investors.. For instance, the Mayor of Torres Vedras Municipality has shown keen interest in Fish n’ Greens becoming the main fresh food supplier of the public schools’ canteens of the region (around 11,000 students).

BlueInvest also helped Aquaponics Iberia towards concretising investments.

The BlueInvest programme definitely helped us reach more investors — it seemed like a small step then, but now we are very close to receiving funding, and that is an accomplishment in itself.

says João Cotter, CEO and Co-Founder of Aquaponics Iberia.

With €4.5 million required to set up their first aquaponics integrated urban farm, the current challenge continues to be funding: 40% of the amount has been raised so far and the remainder is in talks with investors.

Securing the necessary investment would enable Aquaponics Iberia to concretise the Fish n’ Greens project and to provide a solution for local, fresh, healthy and sustainable food, bringing together blue and green economy to transform food in European cities.

Interested? Apply now by registering to the BlueInvest Community and completing the dedicated Readiness Assistance application form. For any questions, reach out to us at lu_blueinvest@pwc.com

Algae producer Algaria SRL reached out to new investors thanks to BlueInvest

The ocean is currently the source of only up to 2% of human food, although it covers more than 70% of the Earth’s surface. The recent communication “Towards a Strong and Sustainable EU Algae Sector” identifies farmed seafood as an important source of alternative protein for food and feed with a low-carbon footprint. The industrial cultivation of algae for human consumption has increased manifold over the past few decades. However, although popular in Asia, the uptake of algae production and consumption remains slow in the EU. Algaria is a young Italian start-up ready to tap into this huge potential, producing and distributing spirulina-based bioproducts, with the help of the EU Blueinvest programme.

 

EU support for innovative companies in the algae sector

Across Europe, several companies are developing disruptive solutions and technologies supporting the growth and sustainability of the algae sector but often they struggle to attract investors and gain access to finance.

Founded in 2016, Algaria SRL was among the first batch of companies benefiting from the BlueInvest Readiness Assistance programme. With this programme, the European Commission directly supports innovative companies in the algae sector and boosts investment in the industry’s cutting-edge technologies. The objective is to develop a more sustainable food system and to enable a transition to a circular European bioeconomy.

 

Producing spirulina algea in a circular way

The young Italian start-up produces and distributes highly nutritional alternative food and ingredients (spirulina algae), through its brand Spireat, without affecting the ecosystem. Since spirulina alga production has a high thermal need, Algaria uses an innovative circular system whereby the thermal energy of the biogas generated by the plants are used to heat a greenhouse all year round. All inputs and outputs are recuperated, and no raw materials are used. Water is also recuperated in the production process, resulting in a net zero impact. Moreover, Algaria has also developed a patent-pending breakthrough technology called e-pond that is capable of recovering by-products from the food industry, extracting the mineral residues and using them as as feedstock to support the growth of microalgae. 

 

BlueInvest – coaching and connecting companies with investors

Through sessions with their BlueInvest coach, the start-up has improved its market and investment readiness and specifically worked on an entire business plan suitable to attract funding. BlueInvest has been particularly instrumental in helping the start-up to expand its network and identify key partners for R&D collaboration, not only thanks to the support of their coach but also their participation in BlueInvest events.

'The BlueInvest event helped us reach out to some really helpful connections, in order to run up some R&D projects together' says Antonio Ida, CEO, Algaria SRL'The networking experience was excellent'. And it is not over: going forward, Algaria has ambitious fundraising plans and is currently investing strongly in R&D to attain high technology readiness levels (TRLs). The company is in talks with banks and financial institutions for multiple funding options and has recently closed a deal worth €3.3 million with an investor. In CEO Antonio Ida’s words, 'We have quite a lot on our plate for now'.

 

Interested? Apply now by registering to the BlueInvest Community and completing the dedicated Readiness Assistance application form. For any questions, reach out to us at lu_blueinvest@pwc.com

The ocean is currently the source of only up to 2% of human food, although it covers more than 70% of the Earth’s surface. The recent communication “Towards a Strong and Sustainable EU Algae Sector” identifies farmed seafood as an important source of alternative protein for food and feed with a low-carbon footprint. The industrial cultivation of algae for human consumption has increased manifold over the past few decades. However, although popular in Asia, the uptake of algae production and consumption remains slow in the EU. Algaria is a young Italian start-up ready to tap into this huge potential, producing and distributing spirulina-based bioproducts, with the help of the EU Blueinvest programme.

 

EU support for innovative companies in the algae sector

Across Europe, several companies are developing disruptive solutions and technologies supporting the growth and sustainability of the algae sector but often they struggle to attract investors and gain access to finance.

Founded in 2016, Algaria SRL was among the first batch of companies benefiting from the BlueInvest Readiness Assistance programme. With this programme, the European Commission directly supports innovative companies in the algae sector and boosts investment in the industry’s cutting-edge technologies. The objective is to develop a more sustainable food system and to enable a transition to a circular European bioeconomy.

 

Producing spirulina algea in a circular way

The young Italian start-up produces and distributes highly nutritional alternative food and ingredients (spirulina algae), through its brand Spireat, without affecting the ecosystem. Since spirulina alga production has a high thermal need, Algaria uses an innovative circular system whereby the thermal energy of the biogas generated by the plants are used to heat a greenhouse all year round. All inputs and outputs are recuperated, and no raw materials are used. Water is also recuperated in the production process, resulting in a net zero impact. Moreover, Algaria has also developed a patent-pending breakthrough technology called e-pond that is capable of recovering by-products from the food industry, extracting the mineral residues and using them as as feedstock to support the growth of microalgae. 

 

BlueInvest – coaching and connecting companies with investors

Through sessions with their BlueInvest coach, the start-up has improved its market and investment readiness and specifically worked on an entire business plan suitable to attract funding. BlueInvest has been particularly instrumental in helping the start-up to expand its network and identify key partners for R&D collaboration, not only thanks to the support of their coach but also their participation in BlueInvest events.

'The BlueInvest event helped us reach out to some really helpful connections, in order to run up some R&D projects together' says Antonio Ida, CEO, Algaria SRL'The networking experience was excellent'. And it is not over: going forward, Algaria has ambitious fundraising plans and is currently investing strongly in R&D to attain high technology readiness levels (TRLs). The company is in talks with banks and financial institutions for multiple funding options and has recently closed a deal worth €3.3 million with an investor. In CEO Antonio Ida’s words, 'We have quite a lot on our plate for now'.

 

Interested? Apply now by registering to the BlueInvest Community and completing the dedicated Readiness Assistance application form. For any questions, reach out to us at lu_blueinvest@pwc.com

QED Naval: raising funds to raise marine energy

Russia’s invasion of Ukraine has severely disrupted the energy market in Europe. To deal with this emergency, the EU is reducing its needs for energy imports and speeding up its green energy transition, as laid out in the REPower plan of the European Commission. There is a great potential within the ocean for this transition, both in offshore wind and ocean energy. Through its BlueInvest initiative, the European Commission boosts innovation and investment in renewable energy technologies such as wave and tidal devices. The aim is to reach 40 GW of installed capacity by 2050, a target set in the EU Strategy on Offshore Renewable Energy.

QED Naval, a technology developer and project manager of tidal energy projects, has benefitted from BlueInvest, the EU-funded initiative which provides support and access to finance for early-stage businesses, SMEs and scale-ups in the blue economy. The company has developed an innovative, self-deploying tidal platform, which can slash the costs of deploying and maintaining turbines by around 60% and, through intelligent hydrodynamic design, improve yields from the site by up to 48%.

In 2020, QED Naval was nominated to an R&D project linking them in to a larger scheme that was seeking funding, equity and loans. They applied to the Cycle 3 of the BlueInvest Readiness Assistance programme with the aim of accessing finance.

During the 6-months coaching period, the BlueInvest coach worked closely with QED Naval to test its financial strategy, develop the team’s pitching skills, and introduce them to potential investors. QED Naval was connected to hundreds of investors.

The BlueInvest Readiness Assistance programme helped us to be investment ready and supported us with funding discussions says Keith Murray, Chief Commercial Officer of QED Naval

QED Naval started negotiation with three of the investors within two months of coaching. After only a year in their BlueInvest journey, the company had successfully raised €1 million from Seeds Crowdfunding. They later secured a place on the TIGER project, a big EU-funded project working on tidal energy, which led to an additional €3.5 million in funding.

QED Naval is now looking to advance its project development and to expand their company globally, notably towards China, which has shown a big interest for their technology.

BlueInvest showed excellent results and strong business impact on QED Naval fundraising journey, while furthering the decarbonisation ambitions of the EU Green Deal and the transformation of the EU’s energy market.

 

Interested? Apply now by registering to the BlueInvest Community and completing the dedicated Readiness Assistance application form. For any questions, reach out to us at lu_blueinvest@pwc.com

Russia’s invasion of Ukraine has severely disrupted the energy market in Europe. To deal with this emergency, the EU is reducing its needs for energy imports and speeding up its green energy transition, as laid out in the REPower plan of the European Commission. There is a great potential within the ocean for this transition, both in offshore wind and ocean energy. Through its BlueInvest initiative, the European Commission boosts innovation and investment in renewable energy technologies such as wave and tidal devices. The aim is to reach 40 GW of installed capacity by 2050, a target set in the EU Strategy on Offshore Renewable Energy.

QED Naval, a technology developer and project manager of tidal energy projects, has benefitted from BlueInvest, the EU-funded initiative which provides support and access to finance for early-stage businesses, SMEs and scale-ups in the blue economy. The company has developed an innovative, self-deploying tidal platform, which can slash the costs of deploying and maintaining turbines by around 60% and, through intelligent hydrodynamic design, improve yields from the site by up to 48%.

In 2020, QED Naval was nominated to an R&D project linking them in to a larger scheme that was seeking funding, equity and loans. They applied to the Cycle 3 of the BlueInvest Readiness Assistance programme with the aim of accessing finance.

During the 6-months coaching period, the BlueInvest coach worked closely with QED Naval to test its financial strategy, develop the team’s pitching skills, and introduce them to potential investors. QED Naval was connected to hundreds of investors.

The BlueInvest Readiness Assistance programme helped us to be investment ready and supported us with funding discussions says Keith Murray, Chief Commercial Officer of QED Naval

QED Naval started negotiation with three of the investors within two months of coaching. After only a year in their BlueInvest journey, the company had successfully raised €1 million from Seeds Crowdfunding. They later secured a place on the TIGER project, a big EU-funded project working on tidal energy, which led to an additional €3.5 million in funding.

QED Naval is now looking to advance its project development and to expand their company globally, notably towards China, which has shown a big interest for their technology.

BlueInvest showed excellent results and strong business impact on QED Naval fundraising journey, while furthering the decarbonisation ambitions of the EU Green Deal and the transformation of the EU’s energy market.

 

Interested? Apply now by registering to the BlueInvest Community and completing the dedicated Readiness Assistance application form. For any questions, reach out to us at lu_blueinvest@pwc.com

BlueInvest supported fundraising for blue economy training start-up

Kanda is a Danish company that develops digital training solutions using virtual reality in the maritime and energy sectors. Following the completion of the EU BlueInvest Readiness Assistance programme, the start-up successfully raised $2 million from strategic investors. New training solutions are essential for the blue economy labour market where the energy transition is already resulting in job vacancies - up to 30% of offshore renewable energy companies are complaining of either the unavailability of the skills they need or a shortage of existing skills. By 2030, the number of jobs in the offshore wind energy sector alone might triple.

 

EU support to reduce the skills gaps in the blue economy

Through its communication “on a new approach for a sustainable blue economy in the EU – Transforming the EU's Blue Economy for a Sustainable Future”, the European Commission emphasised the necessity to reduce the skills gaps and increase training offers, to boost innovation, greening and digitalisation in blue economy sectors. Consistent with the later, the Commission is putting forward concrete activities in this respect, such as support through the European Maritime, Fisheries and Aquaculture Fund (EMFAF) and the new Blue Careers Call.

Beyond that, with its BlueInvest initiative, the Commission also directly addresses the skills gap in the blue economy notably by supporting SMEs developing trainings in the sector through customised coaching, visibility, access to investors and investment-readiness advice.

 

Virtual reality to make certificate training collaborative, engaging and cost-effective

Founded in 2010, Kanda was among the first batch of companies benefiting from the BlueInvest Readiness Assistance programme. The SME focuses on providing easily accessible education and certified training in heavy industries and develops immersive digital learning applications that enable collaborative teamwork across various platforms. Kanda uses virtual reality to make certificate training collaborative, engaging, and cost-effective. With a concept of training in the maritime and energy sectors, the digital platform offers classroom learning with interactive scenarios that can handle simulations and can be configured based on the skill level of the user.

 

BlueInvest – coaching and connecting companies with investors

When applying to the BlueInvest Readiness Assistance programme in 2020, Kanda was seeking funding for an online training platform they were developing with several maritime stakeholders to provide virtual training adapted to the needs of the companies in the sector including among others security procedures training or installation procedures in the offshore renewables sector. Following the company’s selection to the Readiness Assistance programme, a BlueInvest coach worked with the team on their pitching skills and market and investment readiness. ‘Our BlueInvest Coach has been excellent in helping us improving our pitch skills and introducing us to a number of relevant investors in the sector’ says Kristian Emil Andreasen, CEO of Kanda. Following the completion of the Readiness Assistance programme, the start-up successfully raised $2 million from strategic investors from Singapore, namely the shipping company Eastern Pacific Shipping, joined by existing shareholders from Techstars. 

While still looking for funding, Kanda is currently focusing on internal and business development, including the development of procedures improving its efficiency as well as the creation of a marketplace.

 

Background

BlueInvest Readiness Assistance is an exclusive coaching programme for high potential EU start-ups and SMEs with innovative and sustainable products and solutions for the blue economy. Businesses and projects selected for Investment Readiness Assistance will receive coaching packages tailored specifically to their readiness levels and business objectives. The programme is impact-driven, with a clear focus on providing business support to help start-ups and SMEs build capacities for growth and attract investment.

Interested? Apply now by registering to the BlueInvest Community and completing the dedicated Readiness Assistance application form. The current application deadline is the 7th of April 2023. For any questions, you can reach out to lu_blueinvest@pwc.com.

Kanda’s BlueInvest Experience: BlueInvest Community, BlueInvest Readiness Assistance, BlueInvest Pipeline, BlueInvest e-Pitch sessions, BlueInvest Day

Kanda is a Danish company that develops digital training solutions using virtual reality in the maritime and energy sectors. Following the completion of the EU BlueInvest Readiness Assistance programme, the start-up successfully raised $2 million from strategic investors. New training solutions are essential for the blue economy labour market where the energy transition is already resulting in job vacancies - up to 30% of offshore renewable energy companies are complaining of either the unavailability of the skills they need or a shortage of existing skills. By 2030, the number of jobs in the offshore wind energy sector alone might triple.

 

EU support to reduce the skills gaps in the blue economy

Through its communication “on a new approach for a sustainable blue economy in the EU – Transforming the EU's Blue Economy for a Sustainable Future”, the European Commission emphasised the necessity to reduce the skills gaps and increase training offers, to boost innovation, greening and digitalisation in blue economy sectors. Consistent with the later, the Commission is putting forward concrete activities in this respect, such as support through the European Maritime, Fisheries and Aquaculture Fund (EMFAF) and the new Blue Careers Call.

Beyond that, with its BlueInvest initiative, the Commission also directly addresses the skills gap in the blue economy notably by supporting SMEs developing trainings in the sector through customised coaching, visibility, access to investors and investment-readiness advice.

 

Virtual reality to make certificate training collaborative, engaging and cost-effective

Founded in 2010, Kanda was among the first batch of companies benefiting from the BlueInvest Readiness Assistance programme. The SME focuses on providing easily accessible education and certified training in heavy industries and develops immersive digital learning applications that enable collaborative teamwork across various platforms. Kanda uses virtual reality to make certificate training collaborative, engaging, and cost-effective. With a concept of training in the maritime and energy sectors, the digital platform offers classroom learning with interactive scenarios that can handle simulations and can be configured based on the skill level of the user.

 

BlueInvest – coaching and connecting companies with investors

When applying to the BlueInvest Readiness Assistance programme in 2020, Kanda was seeking funding for an online training platform they were developing with several maritime stakeholders to provide virtual training adapted to the needs of the companies in the sector including among others security procedures training or installation procedures in the offshore renewables sector. Following the company’s selection to the Readiness Assistance programme, a BlueInvest coach worked with the team on their pitching skills and market and investment readiness. ‘Our BlueInvest Coach has been excellent in helping us improving our pitch skills and introducing us to a number of relevant investors in the sector’ says Kristian Emil Andreasen, CEO of Kanda. Following the completion of the Readiness Assistance programme, the start-up successfully raised $2 million from strategic investors from Singapore, namely the shipping company Eastern Pacific Shipping, joined by existing shareholders from Techstars. 

While still looking for funding, Kanda is currently focusing on internal and business development, including the development of procedures improving its efficiency as well as the creation of a marketplace.

 

Background

BlueInvest Readiness Assistance is an exclusive coaching programme for high potential EU start-ups and SMEs with innovative and sustainable products and solutions for the blue economy. Businesses and projects selected for Investment Readiness Assistance will receive coaching packages tailored specifically to their readiness levels and business objectives. The programme is impact-driven, with a clear focus on providing business support to help start-ups and SMEs build capacities for growth and attract investment.

Interested? Apply now by registering to the BlueInvest Community and completing the dedicated Readiness Assistance application form. The current application deadline is the 7th of April 2023. For any questions, you can reach out to lu_blueinvest@pwc.com.

Kanda’s BlueInvest Experience: BlueInvest Community, BlueInvest Readiness Assistance, BlueInvest Pipeline, BlueInvest e-Pitch sessions, BlueInvest Day

SEAentia-Food: Growing with BlueInvest

Farming finfish, shellfish and aquatic plants in the sea or inland waters is one of the world’s fastest growing food sectors. It already provides the planet with more than half of all the seafood and fish we eat.

Through the strategic guidelines for a more sustainable and competitive EU aquaculture for the period 2021-2030, the Commission provides a common vision for EU countries, the aquaculture sector and other stakeholders to develop the sector in a way that contributes directly to the European Green Deal and the Farm to Fork Strategy. To do so, the EU also supports research and innovation in the aquaculture sector, tackling all issues from interactions with the environment, health and nutrition of farmed fish, to reproduction and breeding.

And talking about innovation in aquaculture, SEAentia is a great example.

This young Portuguese start-up pioneers in meagre production - from hatchery to commercial size - in a sustainable and environmental-friendly recirculating aquaculture system, where animal welfare is a major concern.

Since the foundation of the company in 2017, SEAentia’s team has been trying its best to grow the project by acquiring external investment; however access to funding is never easy, and the company faced challenges finding the right skillsets to attract investors.

Then BlueInvest kicked in: SEAentia was among the first companies benefiting from the BlueInvest Readiness Assistance programme, which provided the team with the business support they needed.

This kind of programme is extremely important because it gives support to potentially good projects and teams which are missing the extra knowledge, necessary for those projects to be successfully implemented. For us, it gave a huge boost and allowed us to find investment. (…) BlueInvest supported us and we will be successful!

João Rito, Founding Partner of SEAentia

Through sessions with their BlueInvest coach, SEAantia has improved its market and investment readiness, specifically worked on its business plan, and its reach to potential investors. Taking part in the many BlueInvest events organised across Europe was beneficial to building up the company’s network and increase the visibility of the project.

Positive results came in shortly: with the support from BlueInvest, SEAentia raised a total of €1.12 million from several sources including private investors.

The start-up’s next step is to scale up its next idea and secure funding while continuing to address the global challenge of feeding the growing human population with high-quality products.

 

Background

BlueInvest Readiness Assistance is an exclusive EU coaching programme for high potential start-ups and SMEs in the EU with innovative and sustainable products and solutions for the blue economy. Businesses and projects selected for Investment Readiness Assistance will receive coaching packages tailored specifically to their readiness levels and business objectives. The programme is impact-driven, with a clear focus on providing business support to help start-ups and SMEs build capacities for growth and attract investment.

Interested? Apply now by registering to the BlueInvest Community and completing the dedicated Readiness Assistance application form. The current application deadline is the 7 April 2023. For any questions, reach out to lu_blueinvest@pwc.com.

Farming finfish, shellfish and aquatic plants in the sea or inland waters is one of the world’s fastest growing food sectors. It already provides the planet with more than half of all the seafood and fish we eat.

Through the strategic guidelines for a more sustainable and competitive EU aquaculture for the period 2021-2030, the Commission provides a common vision for EU countries, the aquaculture sector and other stakeholders to develop the sector in a way that contributes directly to the European Green Deal and the Farm to Fork Strategy. To do so, the EU also supports research and innovation in the aquaculture sector, tackling all issues from interactions with the environment, health and nutrition of farmed fish, to reproduction and breeding.

And talking about innovation in aquaculture, SEAentia is a great example.

This young Portuguese start-up pioneers in meagre production - from hatchery to commercial size - in a sustainable and environmental-friendly recirculating aquaculture system, where animal welfare is a major concern.

Since the foundation of the company in 2017, SEAentia’s team has been trying its best to grow the project by acquiring external investment; however access to funding is never easy, and the company faced challenges finding the right skillsets to attract investors.

Then BlueInvest kicked in: SEAentia was among the first companies benefiting from the BlueInvest Readiness Assistance programme, which provided the team with the business support they needed.

This kind of programme is extremely important because it gives support to potentially good projects and teams which are missing the extra knowledge, necessary for those projects to be successfully implemented. For us, it gave a huge boost and allowed us to find investment. (…) BlueInvest supported us and we will be successful!

João Rito, Founding Partner of SEAentia

Through sessions with their BlueInvest coach, SEAantia has improved its market and investment readiness, specifically worked on its business plan, and its reach to potential investors. Taking part in the many BlueInvest events organised across Europe was beneficial to building up the company’s network and increase the visibility of the project.

Positive results came in shortly: with the support from BlueInvest, SEAentia raised a total of €1.12 million from several sources including private investors.

The start-up’s next step is to scale up its next idea and secure funding while continuing to address the global challenge of feeding the growing human population with high-quality products.

 

Background

BlueInvest Readiness Assistance is an exclusive EU coaching programme for high potential start-ups and SMEs in the EU with innovative and sustainable products and solutions for the blue economy. Businesses and projects selected for Investment Readiness Assistance will receive coaching packages tailored specifically to their readiness levels and business objectives. The programme is impact-driven, with a clear focus on providing business support to help start-ups and SMEs build capacities for growth and attract investment.

Interested? Apply now by registering to the BlueInvest Community and completing the dedicated Readiness Assistance application form. The current application deadline is the 7 April 2023. For any questions, reach out to lu_blueinvest@pwc.com.

Gazelle Wind Power Limited - Fulfilling the ambition

Today, offshore wind produces clean electricity that competes with, and sometimes is cheaper than existing fossil fuel-based technology.

It is a story of undisputed European technological and industrial leadership: European laboratories and industries are rapidly developing a range of technologies to harness the power of our seas for producing green electricity, going from floating offshore wind to ocean energy technologies such as wave or tidal, floating photovoltaic installations and the use of algae to produce biofuels.

It’s very clear to the European Commission that supporting technological innovation in the offshore energy sector is paramount for a sustainable EU growth model, a decarbonised economy, and energy diversification.

The EU Strategy on Offshore Renewable Energy, dating back to November 2020, proposes to increase Europe's offshore wind capacity from its current level of 12 GW to 300 GW by 2050. And it’s not just that. Additional 40 GW coming from ocean energy and other emerging technologies such as floating wind should also be harnessed from our seas by 2050.

Across Europe, innovative companies are developing disruptive solutions and technologies to meet these goals. However, often it’s difficult for them to attract investors and access to finance.

Blue Invest, the European Commission’s initiative that aims to boost innovation and investment in sustainable technologies for the blue economy, is there to help.

Born in 2020, Gazelle Wind Power is a young Irish company founded with the aim of accelerating the transition to renewable energies by introducing the next generation of advanced offshore wind platforms.

The Gazelle Wind Power hybrid floating platform is more compact and simpler to build, deploy, and maintain than other floating platforms. Lighter than conventional platforms, it uses approximately 70% less steel and is one-third the weight of other floating platforms. Its patented technology, also significantly reduces costs making it a more affordable and accessible solution for deep water deployment.

In 2021, Gazelle Wind Power -  a start-up newly entering the market, joined the BlueInvest Readiness Assistance programme.The coaching sessions with BlueInvest enabled the company to develop its marketing and growth strategy, improving execution capacity, and facilitating access to finance. In just a  few months, the coach supported Gazelle Wind Power in identifying different financing schemes that suit the company’s objectives, as well as contacted over 30 investors.

"I’m very grateful to the BlueInvest team and our coach for assisting us. Our coach has gone the extra mile.” - Jon Salazar, Founder of Gazelle Wind Power

Following the completion of BlueInvest Readiness Assistance, Gazelle Wind Power closed its previous investment round at €2.9 million. The company  is now in contact with investors for further opportunities, taking offshore wind energy one step closer to meeting the EU Green Deal’s objectives

Background

BlueInvest Readiness Assistance is an exclusive EU coaching programme for high potential start-ups and SMEs in the EU with innovative and sustainable products and solutions for the blue economy. Businesses and projects selected for Investment Readiness Assistance will receive coaching packages tailored specifically to their readiness levels and business objectives. The programme is impact-driven, with a clear focus on providing business support to help start-ups and SMEs build capacities for growth and attract investment.

Interested? Apply now by registering to the BlueInvest Community and completing the dedicated Readiness Assistance application form. The current application deadline is the 7 April 2023. For any questions, reach out to lu_blueinvest@pwc.com.

Gazelle Wind Power’s BlueInvest Experience: BlueInvest Community,BlueInvestReadiness Assistance, BlueInvest Pipeline, BlueInvest e-Pitch sessions, BlueInvest Day

Today, offshore wind produces clean electricity that competes with, and sometimes is cheaper than existing fossil fuel-based technology.

It is a story of undisputed European technological and industrial leadership: European laboratories and industries are rapidly developing a range of technologies to harness the power of our seas for producing green electricity, going from floating offshore wind to ocean energy technologies such as wave or tidal, floating photovoltaic installations and the use of algae to produce biofuels.

It’s very clear to the European Commission that supporting technological innovation in the offshore energy sector is paramount for a sustainable EU growth model, a decarbonised economy, and energy diversification.

The EU Strategy on Offshore Renewable Energy, dating back to November 2020, proposes to increase Europe's offshore wind capacity from its current level of 12 GW to 300 GW by 2050. And it’s not just that. Additional 40 GW coming from ocean energy and other emerging technologies such as floating wind should also be harnessed from our seas by 2050.

Across Europe, innovative companies are developing disruptive solutions and technologies to meet these goals. However, often it’s difficult for them to attract investors and access to finance.

Blue Invest, the European Commission’s initiative that aims to boost innovation and investment in sustainable technologies for the blue economy, is there to help.

Born in 2020, Gazelle Wind Power is a young Irish company founded with the aim of accelerating the transition to renewable energies by introducing the next generation of advanced offshore wind platforms.

The Gazelle Wind Power hybrid floating platform is more compact and simpler to build, deploy, and maintain than other floating platforms. Lighter than conventional platforms, it uses approximately 70% less steel and is one-third the weight of other floating platforms. Its patented technology, also significantly reduces costs making it a more affordable and accessible solution for deep water deployment.

In 2021, Gazelle Wind Power -  a start-up newly entering the market, joined the BlueInvest Readiness Assistance programme.The coaching sessions with BlueInvest enabled the company to develop its marketing and growth strategy, improving execution capacity, and facilitating access to finance. In just a  few months, the coach supported Gazelle Wind Power in identifying different financing schemes that suit the company’s objectives, as well as contacted over 30 investors.

"I’m very grateful to the BlueInvest team and our coach for assisting us. Our coach has gone the extra mile.” - Jon Salazar, Founder of Gazelle Wind Power

Following the completion of BlueInvest Readiness Assistance, Gazelle Wind Power closed its previous investment round at €2.9 million. The company  is now in contact with investors for further opportunities, taking offshore wind energy one step closer to meeting the EU Green Deal’s objectives

Background

BlueInvest Readiness Assistance is an exclusive EU coaching programme for high potential start-ups and SMEs in the EU with innovative and sustainable products and solutions for the blue economy. Businesses and projects selected for Investment Readiness Assistance will receive coaching packages tailored specifically to their readiness levels and business objectives. The programme is impact-driven, with a clear focus on providing business support to help start-ups and SMEs build capacities for growth and attract investment.

Interested? Apply now by registering to the BlueInvest Community and completing the dedicated Readiness Assistance application form. The current application deadline is the 7 April 2023. For any questions, reach out to lu_blueinvest@pwc.com.

Gazelle Wind Power’s BlueInvest Experience: BlueInvest Community,BlueInvestReadiness Assistance, BlueInvest Pipeline, BlueInvest e-Pitch sessions, BlueInvest Day