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Periodic Reporting for period 1 - TetraFOOD (Marine microalgae-based functional foods and food supplements for the prevention of chronicdiseases)

Summary of the context and overall objectives of the project

FITOPLANCTON MARINO S.L. (FM) is one of the European leading companies in marine microalgae production and is the first microalgae production company in achieving the European Novel Food approval for the marine microalgae species Tetraselmis chuii. The company, currently involved in microalgae production for aquaculture, cosmetics and human nutrition, aims to position itself as a leading company in the production of high-value bioactive compounds for the food sector.
Building on the results of previous research work conducted by the company, FM aims to use T. chuii as a natural biofactory for the production of high value bioactive compounds with potential to improve health and reduce the risk of chronic diseases. FM will commercialise a food supplement based on whole microalgae T. chuii and an innovative extract rich in bioactive compounds to be used as functional food ingredient. Currently, no commercial product based on T. chuii is available in the market. Potential clients are nearly 170 companies currently involved in the elaboration of functional foods, and potential end-users include general consumers willing to prevent health issues and men and women suffering from health risk factors influenced by diet.
FITOPLANCTON MARINO has conducted a feasibility assessment structured in three main components: a) a detailed market analysis; b) feasibility assessments at the economic & financial, technical and legal & regulatory levels; and c) the elaboration of a Business Innovation Plan for the innovation project.
This feasibility assessment, conducted by Fitoplancton Marino, has permitted to conclude that Fitoplancton Marino can avail in a feasible and profitable way the existing business opportunity through the development of innovative products based on the marine microalgae Tetraselmis chuii.
The project will permit to provide European consumers with new innovative functional ingredients and food supplements with proven benefits on health whilst contributing to foster the positioning of Europe as a leading region in the production of marine microalgae-based products for the food sector.

Fitoplancton Marino has performed the following works, in the frame of the phase I of the TetraFOOD project:
1. Detailed Market Analysis
2. Legal and Regulatory Feasibility Assessment.
3. Technical and Technological Feasibility Assessment
4. Economic and Financial Feasibility Assessment
5. Elaboration of the Business Plan
The main result of the action has been the elaboration of a Business Innovation Plan setting the strategies (in terms of product development, commercialisation, financing, management of IP rights,...) to bring the marine microalgae-based products to industrial readiness for market uptake

The project will bring significant economic benefits to final consumers by providing them with food and food supplements whose utilisation permits to prevent health issues (immune function, health in aging, physical performance...) and to enhance their welfare, thus reducing the prescription of medications against chronic diseases. Since in the EU 70% to 80% of healthcare costs (approximately €700 billion) are spent on chronic diseases, the project will also provide significant economic benefits to the health systems of the European countries
 Last updated on: 2016-12-16

Record Number: 193039

Last updated on 2016-12-16
