New York based AlgiKnit yesterday announced a fundraise of $2.1 million to turn ocean algae into scaleable bio-yarns, as the global ethical fashion market is posed to reach $8.25 billion by 2023. AlgiKnit creates kelp-derived, biodegradable fibers and yarns to remediate the harmful cycles of fast fashion; kelp is one of the most renewable organisms on the planet, absorbing CO2 and working against global warming and ocean acidification.
Connecticut Seaweed Stakeholders Discuss Potential of Kelp in Plant-Based Food Industry
According to a Global Market Insights Report, the global kelp protein market is projected to double by 2033 with a CAGR of 8.4%, driven by the demand for plant-based protein alternatives, capturing the attention of industry stakeholders. Last week, the 8th Annual Connecticut Seaweed Stakeholders Meeting was held in New Haven, Connecticut. This gathering of seaweed growers and regulatory authorities provided a platform to share industry updates and address the challenges facing this emerging sector, along with how to unlock the potential of seaweed cultivation. According to the University of Connecticut’s Extension News, Carl Jorgensen, a consultant to the Plant Based Foods Association and the Plant Based Foods Institute, discussed the potential of kelp in the plant-based food industry, highlighting that this is an opportune …