Alga Energy is a newly formed company based in Lucca, Italy, focused on electricity production from algae. Its core approach is cultivating algae and deriving vegetable oil from the biomass to generate electricity by burning the oil. The company plans a two-stage project: create a pre-industrial scale pilot facility to cultivate and grow algae and then build electricity production on an area of over 7,000m2 using algae-derived vegetable oil. The project also includes requalification of the ex Cucirini area of the city of Lucca. To finance the programme, Alga Energy is to receive a €3m venture capital investment provided by Sviluppo Imprese Centro Italia through Fondo Toscana Innovazione. No operating metrics or revenues are disclosed in the article.

Total raised

$4M

Funding rounds

1

Latest round

Equity

Latest activity

Oct 2012