“Overall, despite numerous studies, the results of research in this field have been disappointing. Most of the statistical models developed have low levels of explanatory power despite long lists of explanatory variables…. Furthermore, the results of different studies are often contradictory regarding the importance and influence of any given variable” — Abadi Ghadim and Pannell on the adoption of agricultural innovations in 1999
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Dear seaweed and microalgae technologists, operators, and investors, welcome to another edition of the Paxtier Report!
Food for thought this week…
I’m keenly monitoring the traction of seaweed and microalgae biomass/extracts in agriculture.
Biostimulants, animal feed additives, and methane reduction supplements present reasonable end-product price points for biomass with significant potential for emissions reduction and, in some cases, sequestration.
Thanks to the strong drivers behind these applications, our in-depth analysis in the “Global Seaweed New and Emerging Markets Report 2023” underscored agriculture’s prominence as a near-term opportunity for macroalgae in emerging regions.
Adoption
It’s known that major players in the global agricultural sector are excited about seaweed biostimulants and introducing innovative products to market…
Through my recent conversations with seaweed farmers, it’s also still clear that agricultural inputs remain a top priority for emerging production hubs.
But selling into this space is no easy feat.
Long sales cycles, testing periods, and conservative buyers can challenge even the most robust solutions, not to mention the risk of being labelled “snake oil”.
So… what DOES drive adoption in this space?
You may be familiar with the “Innovation Adoption Curve” for classic B2B businesses, popularised by Geoffrey Moore in the book Crossing the Chasm, which was based on corn hybrid adoption research in Iowa done in the 1940s.
While this framework can certainly help, as Shane Thomas from Upstream Ag Insights notes: “We think of farming as a purely B2B situation— dollars and cents driven. But farmers have much in common with the decisions of a consumer, such as a desire for simplicity or the realities of being socially accepted and signalling specific attributes to friends or neighbours.”
As a result, the key driving forces behind farmer adoption can be broken down into:
1. The relative advantage of the innovation over the current standard or other options.
2. Compatibility of the technology within the farmer’s operational context.
3. The level of complexity of the innovation.
4. Trialability of the innovation.
5. Observability of the result.
To add to this, here’s what Beth Zotter, CEO of Umaro, highlighted on my recent post:
“Here are the two non-negotiable criteria we learned a few years ago from one of the big players in this space:
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The active chemical(s) must be identified and demonstrated to work in controlled experiments, and
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Said chemical must then be quantified and guaranteed as a specification in the product.
Although the first criterion takes a lot of time and research dollars to demonstrate, this is the industry norm. We should be pushing for lots more university research in this area!”
Do you agree with these points? Let me know what you think in the comments section below.
And if you’re interested in learning more, take a moment to read UpStream Ag’s recent newsletter breakdown or Geoff Kaine’s research on The Adoption of Agricultural Innovation.
In today’s report…
Markets: 📈 COP28: The UN’s net-zero food plan to save the 1.5-degree goal, combat climate ‘doomisim’.
Deals: 💸 Webit Investment Network (BSE:WIN) details investment in CH4 Global.
Movers and Shakers: 🏜️ HyveGeo raises pre-seed round. Plans to build the largest microalgae-based biorefinery business across desert regions.
Around the web: 🦩 Luring back flamingos using favourite algae – spirulina.
Markets and Investing
✂️Algae Market Snippets
Some big moves in recent weeks…
General
💵 Germany invests €15 million into Aqua-Spark’s African Fund (Read more HERE).
🌱 European Innovation Council’s Work Programme for 2024, featuring large grants for precision fermentation and algae (Read more HERE).
Macroalgae
💵 Ava Oceans’ “Ocean Green” project has been listed as a recipient of the Norwegian government’s Green Platform funding, totalling 47 million NOK (£3.5 million) (Read more HERE).
🚢 On 2 December, Hypomar Ocean 1, Alginor’s first diesel-electric harvesting vessel, was hoisted into the sea to begin quay outfitting and preparation for sea trials. Hypomar Ocean 1 will be the world’s most advanced seaweed harvesting vessel (Read more HERE).
🐶 Real Mushrooms debuts daily supplement for dogs (Read more HERE).
💆🏻♀️ Scottish organic seaweed skincare brand ishga launches spa treatments for kids at Luxury Family Hotels (Read more HERE).
🌿 OCEAN KISS creates France’s first smoked salmon crafted from seaweed and plants (Read more HERE).
🌍 COP28: The UN’s net-zero food plan to save the 1.5-degree goal, combat climate ‘doomisim’ (Read more HERE).
🌿 EMILY Seaweed Crisps now available at TK MAXX (Read more HERE).
📰 📢 Five new EMBRC projects will develop the next generation of marine research services. Features MacroSea-MicroB, which will establish protocols to biobank seaweed-associated microbiomes (Read more HERE).
🤝 Lofoten Seaweed unveils new FrischeParadies GmbH & Co. KG partnership to showcase seaweed products (Read more HERE).
🌿 The Jamestown S’Klallam Tribe has partnered with the Puget Sound Restoration Fund to create a kelp seed bank (Read more HERE).
🌿 This month, the Washington State Department of Natural Resources presented its plan to the WA state legislature to restore and protect vast swaths of kelp and eelgrass ecosystems (Read more HERE).
🌿 Lagoa and Tarifa unite in fight against invasive seaweed (Read more HERE).
📈 Webit Investment Network (BSE:WIN) announces investment in CH4 Global (Read more HERE).
🚨 Black algae Okeania spp triggers health warning on Waiheke Island (Read more HERE).
✅ Illegal seaweed collection and processing revealed as 25 tons of algae seized in Atacama (Read more HERE).
🤝 North Coast Seafoods pens a distribution partnership with Native Maine Produce & Specialty Foods (Read more HERE).
🧪 Marinomed Biotech AG highlights new Carragelose distribution & manufacturing partners and EU patent (Read more HERE).
🍔 Meta Burger brings alt meats by Umaro Foods, Fable, & Unreal Deli to Colorado (Read more HERE).
Microalgae
💵 Corbion should consider sale of company says shareholder publicly (Read more HERE). Corbion’s response was highlighted HERE.
🌞 Sun Chemical introduces two new SunPURO® natural colours for cosmetics and personal care (Read more HERE).
💵 The Michigan Department of Natural Resources is investing $4 million to advance wetland restoration and reduce harmful algal blooms in two regions across the state (Read more HERE).
🟢 Protium Technologies & Algal Bio join forces at COP28 through signing of a Memorandum of Understanding (MoU) (Read more HERE).
💊 Fermentalg unveils Blue Origins, a supplement derived from a new microalgae source (Read more HERE).
💵 Delaware State University receives $300,000 for microalgae-to-energy research (Read more HERE).
🟢 HyveGeo raises pre-seed round. Plans to build the largest microalgae-based biorefinery business across desert regions, including the GCC (Read more HERE).
🟢 Heather Mills’ VBites vegan food firm collapses into administration (Read more HERE).
🐦Tweets of the week
🔥 What else was hot in seaweed and microalgae this week?
General
⛺ Rural depopulation? Subsidise housing with aquaculture licence fees, says Salmon Scotland (Read more HERE).
Macroalgae
🥩 Alt-meat companies are grappling with a harsh reality. Courtney Boyd Myers shares more thoughts (Read more HERE).
🌿 From Muungoni with love: World Bank President excited to meet seaweed farmers in Zanzibar (Read more HERE).
🌿 Some nice links on seaweed value chains from Steven Hermans (Read more HERE).
🌱 (Paper) Temporal patterns of fucoxanthin in four species of European marine brown macroalgae (Read more HERE).
🌿 Turns out undersea kelp forests are crucial for salmon (Read more HERE).
🏗️ Construction of Iceland’s first hempcrete building completed. Features timber frames covered with screens made from seaweed (Read more HERE).
🌿 Mascara, smoothies, T-shirts: I spent a day (and $500) on seaweed products (Read more HERE).
🥗 Sodexo and Harris Interactive reveal the results of the first international sustainable food barometer (Read more HERE).
🏆 Vegan Caviar – a sustainable alternative to a classic delicacy (Read more HERE).
🌿 Seaweed Food Safety report examines federal, state regulations (Read more HERE).
🌿 Seaweed and crabs, a new frontier for sustainable packaging (Read more HERE).
🌿 Researchers develop sustainable wound dressing hydrogel based on seaweed and carbonated water (Read more HERE).
Microalgae
🌱 Luring back flamingos using favourite algae – spirulina (Read more HERE).
✧ It has now been shown that selective breeding can significantly increase the omega-3 content of microalgae (Read more HERE).
❆ (Paper) CuO nanoparticles mixed with activated BC extracted from algae as promising material for supercapacitor electrodes (Read more HERE).
❆ (Paper) Lipidomic assessment of the impact of Nannochloropsis oceanica microalga lipid extract on human skin keratinocytes exposed to chronic UVB radiation (Read more HERE).
🌱 Glassy shell of microscopic algae inspires tiny ultrasound detectors for medical imaging (Read more HERE).
🌐 Willem van der Pijl on stage at the Global Shrimp Forum 2023, discusses algal oil (Read more HERE).
🌱 ALGAEWAVE: Converting noise into microalgae growth (Read more HERE).
That’s all folks!
Thanks again for joining us this week. Hope you have a great day and stay tuned for more seaweed and microalgae updates soon!
Best,
Peter
