4 minutes with… Samuel Kanes, Founding Director, BlueOcean NutraSciences

Tell us about your organization and it’s role in the advanced bioeconomy.

BlueOcean (BOC.TSXV) holds the exclusive global patent rights to technology that captures and dissolves CO2 gas into solutions for accelerating biomass growth. The first commercial development is accelerating algae growth beyond current photosynthetic algae bioreactor potential. A unit is being demonstrated at the Arizona AZCATI algae center.

Tell us about your role and what you are focused on in the next 12 months.

My role has been to ensure sufficient venture and post-IPO public financing is raised to develop this high value algae bioreactor platform.

We have a very high-EPA rich Omega3 algae strain that we can grow in 36 hours at rates double those of others according to independent studies at NRC Canada and St. Cloud University in Minnesota.

We have 5 conditional long term supply agreements that could support up to 15 of our targeted baseline algae photobioreactor production facilities.

My personal goal was to achieve an entrepreneurial success in my retired years that was sustainable and therefore benefited society.

What do you feel are the most important milestones the industry must achieve in the next 5 years?

Advancing down the cost curve versus fossil fuel through further technological breakthroughs, economies of scale, production experience and collaboration. Never-ending lobby efforts to end fossil fuel subsidies and stimulate further government understanding that supporting the bioeconomy creates the future tax base for governments.

If you could snap your fingers and change one thing about the Advanced Bioeconomy, what would you change?

I would want to see the elimination of all fossil fuel subsidies and a tax on carbon. The power industry has it right with various 20 year power purchase agreements that are financable.The fuel and petrochemical industries do not. The bioEconomy portion of the economic base will then grow without subsidies but will need government procurement.

Of all the reasons that influenced you to join the Advanced Bioeconomy industry, what single reason stands out for you as still being compelling and important to you.

Sustainability of our economy and future high value jobs for our children to be here in North America.

Where are you from? 

Toronto Canada where I worked in the Securities industry being responsible for the equity research coverage of chemical,fertilizer, power and pipeline companies and industries.

What was your undergraduate major in college, and where did you attend? Why did you choose that school and that pathway? 

Commerce Undergrad that led to becoming a CPA with KPMG. Upon joining Scotia Capital, I then completed and received my CFA designation.

Who do you consider your mentors. What have you learned from them?

My daughter inspires me as she tries to raise the awareness of endangered marine life, the negative effects of aquaculture salmon farming on wild salmon etc.

I admire Richard Branson and those that dare to change the world for the better. I aspire to be more fearless, take chances, do not be afraid to fail. I learn more from my failures than my successes.

What’s the biggest lesson you ever learned during a period of adversity?

The greatest time of fear and uncertainly can also be the time for the greatest opportunities.

What 3 books would you take to read, if stranded on a desert island?

The Bible, how to fish book and how to build a shelter book.

What books or articles are on your reading list right now, or you just completed and really enjoyed?

Chemical Engineering News, Algae Industry News, Science Magazine, Bloomberg,

What’s your favorite city or place to visit, for a holiday?

I have travelled to many non-North American locations around the world. This has enriched my understanding of people, politics, religion, and history.