The main objective of the Blue Bioeconomy Pact is to reindustrialise Portuguese industries by integrating blue biotechnology solutions into value chains, boosting the sustainable use of marine bio-resources to increase added value through carbon-neutral innovation.
The Pact is organised into seven industrial verticals, corresponding to different value chains, each led by a company that is a benchmark in its respective area.
Vertical Algae, which involves a total of 38 entities, including companies, universities, CoLABs and Research and Development (R&D) centres, will have funding of 44 million euros and aims to provide the national algae sector with the necessary capacity and competitive advantages, based on new sustainable products, processes and services, to compete in global markets and raise the national brand in the European blue bioeconomy.