MiAlgae, a Scottish company growing nutrient-rich algae from whisky waste, has been named a finalist for the prestigious Earthshot Prize 2024.
Founded in 2016 at the University of Edinburgh, MiAlgae farms algae to produce omega-3, an essential nutrient for both humans and animals.
Typically sourced from wild fish such as sardines and anchovies, rising global demand is contributing to overfishing and threatening marine ecosystems.
MiAlgae’s approach offers a sustainable alternative by growing algae using nutrient-rich waste from whisky production in specially designed fermenting vessels, reducing the reliance on wild fish stocks.
“Innovation means enabling cutting-edge research to meet the world’s biggest challenges, and here we see MiAlgae providing a sustainable solution to overfishing and ocean health,” said Douglas Martin, managing director and founder of MiAlgae.
“It’s wonderful to see global recognition for our work, and testament to the University of Edinburgh’s position as first in the world for industry, innovation and infrastructure.”
The Earthshot Prize, established by the Prince of Wales, seeks out groundbreaking innovations that can help repair the planet.
MiAlgae is now in the running to win £1 million in funding, awarded to just five winners each year.
The company has benefited from the University’s commercialisation support and investment through its venture fund, Old College Capital, which has invested £1.5 million in MiAlgae. The company has maintained close ties with the university, sponsoring PhDs, recruiting graduates and offering industry insights.
“It’s an incredible honour to have been selected as an Earthshot prize finalist. We’re truly grateful for the support we’ve had from the University of Edinburgh, in particular Old College Capital, over the years,” said Martin.
