Algae fermentation ingredients firm raises $39.5 million in growth equity

Mara Renewables Corp. plans to invest in expanding its microalgae portfolio.

Mara Renewables Corp. (Dartmouth, NS, Canada), a company that creates algae-based nutritional and nutraceutical ingredients via fermentation, announced it recently raised $39.5 million in growth equity. It plans to invest in expanding its microalgae portfolio.

Mara produces algae ingredients through fermentation. In a press release, it says, “By going straight to the source, Mara is able to extract immense potential from marine plant life sustainably grown ashore, harnessing the power of the ocean without harvesting its resources.” For instance, in 2021, the company said it supplied enough DHA-rich fatty acids to the supplement, food, and beverage industries “to offset an estimated 7.36 billion fish (anchovy). “

“Mara is very excited to finalize our growth capital phase,” said Arturo Ania, CEO of Mara, in a press release. “This new investment will allow Mara to continue our aggressive growth trajectory and further expand new R&D initiatives into commercial products. We are certain that the expertise added around our investor and board table will allow us to continue our growth phase and expand our omega-3, protein, and other ingredient platforms to become world-changing solutions.”