Commercial Scale Microalgae Cultivation and Processing
At Firglas our mission is to become the global microalgae producer of choice for active compounds for medicine, food supplements and specialist animal feed ingredients.
Firglas develops and operates microalgae facilities using proven technology to produce highest quality food-grade products. The company has built a commercial scale facility in Almeria, the largest of its kind in Spain, to cultivate Nannochloropsis.
Our commitment to produce consistently pure, non-GMO, quality products is without compromise and goes hand in hand with our sustainability promise
The objective is to demonstrate commercial viability at scale for this novel primary production method growing highly nutritious products with outstanding efficiency to address the critical shortfall of key nutrients, protein and other essential food compounds. Products include natural, pure, vegetarian, unprocessed biomass as well as Omega-3 oils. Our core values of quality, focus and passion run through everything we do.
Our business model has two steps, firstly we cultivate, harvest and de-water Nannochloropsis creating biomass. Secondly we extract active compounds such as Omega-3 EPA oil and beta-carotene. Our commitment to produce consistently pure, non-GMO, quality products is without compromise and goes hand in hand with our sustainability promise where everything Firglas does has a positive impact on the environment. Firglas is a member of EABA, the algae trade association.
Over 15 years’ experience in Biotech
Firglas has been exploring microalgae cultivation and its many applications from the nutritional compounds in the biomass, partnering with Simris Alg and Heliae amongst others. After more than $1 billion of fundamental research investment worldwide , notionally for biofuels, commercial scale microalgae cultivation is becoming increasingly viable.
In March 2019 Firglas Ltd completed a £3 million equity financing to build commercial microalgae facilities and subsequently developed and built Spain’s largest facility in partnership with Endesa and Biorizon Biotech. The facility is the culmination of a ten year Endesa research project to sequester carbon by growing algae. Nannochloropsis was selected as the strain for production because of demand for aquaculture hatchery feed, cosmetics and nutraceuticals.
Exceptional team expertise
The team has an exceptional track record of delivering successful process engineering plants from scoping and design to project implementation and operations.
The team has raised and deployed more than $200m into sustainable assets since 2010.
Fredrik Adams is a cleantech entrepreneur with ten years prior experience in technology venture capital.
In 2013 he formed Firglas to deliver biogas and hydroelectric projects together with Sustainable Technology Investors, including a biogas plant on the Isle of Wight and two micro hydroelectric schemes in the Outer Hebrides operating since 2016. From 2017, the company is focused exclusively on microalgae.
During 2014-2016 he served on the board of Simris Alg, a Swedish algae farm manufacturing Omega-3 capsules, raising $13m.
In 2009 he formed Tamar Energy (previously Adgen) which raised £97m of equity capital in 2012 to become the no.1 anaerobic digestion biogas business in the UK.
Between 1999 and 2009 Fredrik worked with early-stage technology venture capital investments in Europe and USA, as an investor, board director, interim CEO and co-founder. He acted for Siemens Venture Capital in Munich and Boston, Viventures in Paris and European Equity Partners in London.
Chief Financial Officer
Lysander Tennant joined Tamar Energy in 2011 where he became head of corporate finance until 2018 when the company was merged with Biogen. Tamar is a specialist developer and operator of anaerobic digestion (AD) plants. At Tamar, Lysander was responsible for the financial model used in the company’s initial £97 million equity raise in 2012. He subsequently advised the development team on commercial and economic aspects of projects. Lysander worked with the Finance Director to secure a £32 million senior non-recourse debt facility with RBS in 2015 to refinance the portfolio of five plants, the first of its kind in the AD sector.
Lysander started his career in fund management at BZW Investment Management, American Express Asset Management. He was independent director from 2002 and chairman from 2012 until 2015 of JPMorgan Russian Securities plc. From 2007-2009 he worked at Sindicatum Carbon Capital, on financing low-carbon energy projects to generate carbon credits, including leading negotiations for a $45 million waste gas to energy project in Indonesia.
Palmira Guarnizo Garcia is a biologist and the plant manager at Carboneras. She has twenty years’ experience of algae cultivation and research.
Elvira Diaz is a marine biologist and lab assistant at Carboneras.
Peter Mponzi is a chemical engineer who is responsible for downstream extraction. He has worked on extraction of Omega-3 and other compounds from Nannochloropsis.
Naz Bashir has a PhD in organic chemistry and an MBA from the University of Exeter. He is scientific and commercial advisor to the company. He was co-founder and former CEO of AlgaeCytes, a nutraceutical company that produces Omega-3 from algae.
Naz has over twenty years of experience as an entrepreneur in early-stage companies, in/out licensing, investment strategies, in commercial and business development. He has achieved success in driving sales from licensing, strategic partnerships in the biotech, chemicals, biofuels and food sectors with deals ranging up to $100million.
Stephen Page, Board Member, is a serial tech entrepreneur, founder and CEO SFC Capital, the most active investor in the UK with 400+ investments.
Christopher Wright, independent non-executive chairman, is a co-founding director of ROPER Technologies Inc. (NYSE, S&P 500), chairman of EMAlternatives LLC in Washington D.C., Yimei Capital in China, a director of Merifin Capital, GP Investments (LUX) and Spice Private Equity.
Until 2003 Christopher was Head of Private Equity at Dresdner Kleinwort and subsequently at Allianz following the merger. He is a seasoned in governance acting as chairman and director of private funds and companies, serving on audit, remuneration and investment committees.