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Alginor named as EU Blue Champion

On Monday 13 May, Alginor was proclaimed as an EU Blue Champion by the European Commission (EC) and the European Investment Bank (EIB).

Chair Wenche Kjølås, CEO Kjetil Rein and CFO Haakon Farstadvoll attended the ceremony in Luxembourg along with 19 other awardees involved in tidal and wind, robotics, and of course, kelp biorefining.

The award follows a proposal that was submitted to the EU during 2023. In total, the EU received 70 proposals and evaluated a further 500 companies. After rigorous evaluation, Alginor was deemed to

  1. align with the EU Mission “Restore our Ocean and Waters”;
  2. be likely to turn a profit;
  3. satisfy high quality standards; and
  4. be mature and display the correct type of technology.

As an EU Blue Champion, Alginor will receive financial advice from the European Investment Bank Advisory Services and the European Investment Bank Projects Directorate for Innovation and Competitiveness.

Read more in a news announcement by the Directorate-General for Maritime Affairs and Fisheries and on EIB's LinkedIn.