Summary

Algenesis is a materials science company that is finding plastic alternatives that are plant-based and naturally biodegradable. The company transforms algae, which is a natural and abundant resource, directly to oil and then into plastic in a controlled lab setting. These plastics are then chemically processed to form natural polyurethanes. This process mimics the formation of traditional plastic in a way because plastic is made from crude oil, a resource that comes from ancient algae and other plants that are baked under the earth’s surface for millions of years at high pressure. The company is trying to mimic the process in a controlled environment by using far fewer resources and energy as compared to the highly carbon-intensive process of extracting oil and then refining it. The company has partnered with other companies to create biodegradable products from these polyurethanes like shoes and surfboards. Soleic™ technology was developed to address the global plastic pollution crisis.  

Story

Algenesis was founded by Dr. Stephen Mayfield, who is a distinguished professor at UC San Diego, and has a background in biofuels that helped create a supply chain for algae polyl, one of the key raw materials in bio polymers. When the biofuel market crashed in 2014 due to low oil prices, Mayfield pivoted to the polymer market to develop technology to address the effects of environmental costs of plastic pollution.

Pic Credit: Very Compostable (right) and Algenesis (top)