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Origin by Ocean successfully closed its first seed financing round in May 2020. Funds now raised will be used to develop the biorefinery process of blue green algae and bladderwrack. The seed round investors include the founders Mari Granström and Mikael Westerlund as well as Riitta Ekengren, Kiilto Ventures, Moomin Characters, along with all company’s senior advisors. KPMG, who has actively been involved in the project since the start as a financial adviser has also become a shareholder of the company.
The innovative, responsible, and sustainable business model of Origin by Ocean has already attracted attention. The company has attracted a number of disclosed and substantial domestic co-operation partners from different industry sectors, such as Valio Oy, Hartwall Oy, Kiilto Oy, Meriaura Oy, Vitae Clean cosmetics Oy and Nordic Trout.
Origin by Ocean has developed a biorefinery process that will be used to tackle the eutrophication problem of our oceans, starting from the Baltic Sea. The company uses harvested harmful blue-green algae and farmed bladderwrack as feedstock. Origin by Ocean extracts valuable bio-based molecules from this feedstock for the use within food & beverage, cosmetics, hygiene, and pharmaceutical industries, at the same time significant amounts of eutrophication causing nutrients are removed. The algae based biomolecules that Origin by Ocean provides allows industry to improve the performance of numerous consumer products.
“Our successful seed financing round along with the previously signed partnerships shows us, that markets are opening up for business ideas and concepts built upon a strong foundation of sustainability and circular economy principles. “CEO, Mikael Westerlund says. “Our seed financing round attracted wide attention amongst investors and their commitment to our dream confirms that we are on the right track. This now allows us to systematically execute our plans – we are aiming at reducing the eutrophication problem of the Baltic Sea whilst generating value.” Westerlund concludes.
“It is fantastic to get the opportunity to build a completely new sustainable ecosystem in Finland and realize this biorefinery with the ultimate goal in mind to help Mother Earth. This equation has everything!” Mari Granström rejoices.
As an archipelago resident, Riitta Ekengren sees the biotechnological know-how and already existing customer contacts of Origin by Ocean creating a market for Baltic Sea based biomass production. “This can allow for a completely new ecosystem and provide revenue opportunity for residents in the archipelago while we are restoring fishing waters. I definitely want to be a part of supporting this work”
Kiilto, according to its Promise to the Environment, has promised to reach carbon-neutrality by 2028 and is aiming for an environmental industry lead position. “We are going to double the share of renewable and circular raw materials in our production by 2022. In the future the products from the biorefinery of Origin by Ocean can become ingredients in our hygiene and cosmetic products. As a long-term player we find it also important to participate in building and supporting responsible and sustainable business in general”, says Ville Solja, Chief Business Development Officer at Kiilto.
Moomin Characters Oy, who oversees the copyright of Tove Jansson’s beloved Moomin characters, was particularly impressed by the innovativeness of Origin by Ocean. “Origin by Ocean has
developed an inventive and highly sustainable new technology, which development we want to support. The company also concretely shows that saving the environment actually can be good business.” says Roleff Kråkström, CEO Moomin Characters Oy.
“Origin by Ocean combines perfectly innovation, sustainable economy, and just “Doing good”. ´Together for Better´ is a core value to KPMG, and we are proud to be participating in the success story of Origin by Ocean”, says Tomas Granvik, Partner KPMG Oy Ab.
For more information please contact:
Mikael Westerlund
+358 40 540 9880
Mari Granström
+358 40 093 2032

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