BASF Venture Main, the company of main corporate risk of the German giant of ingredients BASF, and the Dutch investment fund Aqua-Spark have investing in Was6 Energy like part of a round Series B. The company with headquarters in Bangalore, India, is leader in the production and the processing of tropical red seaweeds and has the economic support of Tata Main Innovations Fund between his investors. With the investment of BASF and Aqua-Spark, the transaction Series B of Was6 Energy will complete by a value of 18,4 M of euros (US$18.5M).
The red seaweeds, also known like rodófitas, characterise by his reddish colour (as his own name indicates) and his big branches, that can reach the 25 centimetres of length. They are used to to form near of macizos rocky in coastal zone and are easily visible, since they create big surfaces of forests that can see to simple sight, with the end to attract the rays of light that need to make the photosynthesis. Especially, they find in the sea Bay of Biscay with the arrival of the autumn, when the marine waters begin to cool and the storms are increasingly frequent.
The biomass of red seaweeds is of fast growth and can use like gelificante in the cosmetic industry, as well as in feeding, Asian gastronomy and in the pharmaceutical sector like expiciente in tablets and syrups. Besides, it employs in foods for animals and products for the protection of crops.
Like the possibilities are infinite and the multiple profits, Was6 Energy is investigating the development of bioplásticos and biofuels based in red seaweeds.
It says that the commercial crop on the high seas on a large scale is complex, as they need technical systems that they are able to bear adverse climatic conditions; it Was6 Energy has adapted his technology of crop to the conditions in waters deeper and extreme climatic conditions. Also it has developed a process patented that increases the useful life of the red seaweeds of one to two days until 60 days. This facilitates the transport of cool red seaweeds, that of another way only can transport to distances longer once dry.
Markus Solibieda, General Director of BASF Venture Main, declared in Cosmetics Business that "it Was6 Energy convinced us with his model of integrated business. With his wide experience in the field of the biotechnology, the team has created very good conditions water up for the crop of red seaweeds like biomass on a large scale and, at the same time, has showed his success water down through his biorrefinería". "This opens opportunities for the transition of industries traditionally dependent of the crude, like the chemical industry, to renewable prime matters", added.
"We expect to have partners experienced to our side in BASF and are happy with the commitment renewed of Aqua-Spark", added Shrikumar Suryanarayan, executive director and cofounder of Was6 Energy.