In France, Ecotechnologies Fund led a €12m funding round for Fermentalg. According to an article on New Energy World Network, this was the third round, and included the existing investors, ACE Management, Demeter Partners, Emertec Gestion, and Picoty Algo. Joining in the round were IRDI and Viveris. Fermentalg will reportedly use the funds for an industrial scale up and commercialization of its microalgae production for use in animal feed, biofuels, cosmetics, food, health, and specialty chemicals.
More background on the story from the Digest