The Algae Whisperer: Meet the Mind Behind Algenesis

Stephen Mayfield is a highly accomplished scientist and entrepreneur with a strong foundation in molecular genetics and biochemistry. He earned his Bachelor of Science in Biochemistry from California Polytechnic State University, San Luis Obispo, in 1979 and went on to obtain a Ph.D. in Molecular Genetics from the University of California, Berkeley, in 1984​. Mayfield’s early academic career was spent at The Scripps Research Institute, where he served as a Professor of Cell Biology for over two decades. (Stephen Mayfield)

Transition to Biotechnology and Entrepreneurship

Mayfield’s scientific journey took a transformative turn when he ventured into biotechnology entrepreneurship. He has founded several companies, including Triton Algae Innovations and Sapphire Energy, where he was instrumental in developing innovative solutions in the fields of biofuels and algae-based technologies​. His pioneering work in biofuels notably led to the development of algae polyol, a key material for bio-polymers. However, the crash of the biofuel market in 2014 prompted Mayfield to pivot his focus to sustainable polymers.

Founding Algenesis Materials

In 2016, Stephen Mayfield founded Algenesis Materials, a material science company with the mission of mitigating environmental pollution caused by traditional plastics. Leveraging his extensive research and expertise, Mayfield developed Soleic® technology—the world’s first high-performance, renewable, and fully biodegradable plastic material made from algae​2. Algenesis initially produced soft foams for footwear and hard foams for surfboards but continues to expand its applications across various industries. 

Bio Is the New Black: The Billion-Dollar Biomaterials Boom

The biomaterials market is experiencing significant growth, driven by advancements in medical technology and an increasing demand for sustainable materials. In 2023, the global biomaterials market was valued at approximately USD 178.0 billion and is projected to grow at a compound annual growth rate (CAGR) of 15.6% from 2024 to 2030. (Grand View Research)

This growth is attributed to several factors, including the rising prevalence of musculoskeletal and chronic skeletal conditions, which necessitate the use of biomaterial-based implants. Additionally, technological advancements have led to the development of innovative biomaterials that enhance the efficacy of medical devices and implants. For instance, the introduction of osteoconductive polyether ether ketone (PEEK) filaments has improved the integration between implants and bone, thereby expanding the applications of biomaterials in the medical field.

The market is segmented based on product types, including metallic, polymeric, ceramic, and natural biomaterials. Metallic biomaterials, known for their durability and strength, are predominantly used in orthopedic and dental applications. Polymeric biomaterials are gaining traction due to their versatility and biocompatibility, making them suitable for a wide range of medical applications. Natural biomaterials, derived from biological sources, are increasingly being utilized for their inherent compatibility with human tissues.

Regionally, North America held the largest share of the biomaterials market in 2023, accounting for approximately 38% of the global revenue. This dominance is due to the presence of major market players and supportive government initiatives that promote the use of biomaterials in various medical applications. The Asia-Pacific region is expected to exhibit the fastest growth during the forecast period, driven by increasing healthcare investments and a growing aging population. (Towards Healthcare)

A Plastic Story: Algenesis’s Mission to Fix the Plastic Problem

Algenesis is a material science and technology company dedicated to addressing environmental pollution caused by fossil fuel-based products. Their mission is to help the planet recover from this pollution by redesigning plastic materials to harmonize with nature. The company envisions a world where high-performance materials are both renewable and fully biodegradable, reducing the environmental impact of traditional plastics. They aim to replace petroleum-based plastics with sustainable alternatives that do not contribute to long-term pollution. (About Algenesis)

Algenesis tackles several critical environmental issues:

• Air Pollution: Traditional plastics contribute to 850 million tons of greenhouse gas emissions annually. Algenesis’s plant-based plastics aim to reduce this carbon footprint.
• Land Pollution: Each year, 532 billion pounds of plastic are landfilled or incinerated, taking over 450 years to degrade. Algenesis’s biodegradable materials offer a solution to this persistent problem.
• Sea Pollution: Annually, 18 billion pounds of plastic enter the oceans, breaking down into harmful microplastics. Algenesis’s products are designed to biodegrade naturally, preventing such pollution.

Algenesis operates on a business model centered around innovation and collaboration. They develop proprietary technologies, such as their Soleic™ technology, to create biodegradable plastics from plant-based sources. These materials are then utilized in various applications, including footwear and surfboards. The company partners with research institutions and brands to integrate their sustainable materials into consumer products. By collaborating with industry leaders, Algenesis accelerates the adoption of eco-friendly materials across multiple sectors.

Sole Searching: From Shoes to Surfboards, Algenesis Has It All

Algenesis is a material science and technology company dedicated to creating sustainable, biodegradable alternatives to traditional plastics. Their flagship innovation, Soleic® technology, enables the development of high-performance, renewable, and fully biodegradable materials derived from plant-based sources. This technology addresses environmental concerns associated with conventional plastics.

Soleic® Technology

Algenesis’s Soleic® technology represents a significant advancement in sustainable materials, offering a plant-based, fully biodegradable alternative to traditional petroleum-based plastics. Developed by a team of scientists from the University of California, San Diego, including Dr. Stephen Mayfield, Dr. Michael Burkart, and Dr. Robert “Skip” Pomeroy, this technology focuses on creating high-performance polyurethane (PU) materials derived from algae and other non-food plants. Common soil microorganisms can consume these microplastics, converting them into harmless nutrients and carbon dioxide, thereby mitigating environmental pollution. 

Soleic® technology utilizes oils extracted from algae and non-food plants to produce bio-based PU. This approach replaces conventional petroleum-derived components, resulting in materials that are renewable and environmentally friendly. The bioplastic developed through this process has been third-party certified to contain 52% bio-content, with ongoing efforts to increase this to 98%. Additionally, the production of Soleic® materials results in up to 50% lower greenhouse gas emissions compared to petroleum-based PU, contributing to efforts against climate change.

Product Applications

Algenesis leverages Soleic® technology to create various products that combine durability with environmental responsibility.

• Footwear
  Algenesis developed BLUEVIEW, a footwear brand featuring the world’s first fully biodegradable, plant-based shoes. The shoes utilize Soleic® foam for the soles and Plant Knit™ uppers made from sustainable materials like hemp and eucalyptus yarn. This design ensures that every component biodegrades under aerobic composting conditions, reducing plastic waste.
• Surfboards
  In collaboration with Arctic Foam, Algenesis created surfboard cores using rigid PU foam derived from algae oil. These surfboards maintain the performance standards expected by surfers while offering a more sustainable alternative to traditional polyurethane boards.
• Phone Cases
  Partnering with RhinoShield, Algenesis is developing injection-molded phone cases made from Soleic® thermoplastic polyurethane (TPU). These cases aim to provide durability and protection for devices while being fully biodegradable, addressing the issue of plastic waste from discarded accessories.
• Coated Fabrics
  Algenesis collaborates with Trelleborg to produce TPU-coated fabrics using Soleic® technology. These fabrics offer water resistance and durability for applications in industries such as aerospace and outdoor apparel, with the added benefit of being environmentally friendly.

Key Features of Soleic® Products

Algenesis’s products offer several advantages over traditional plastics:

• High Performance
  Soleic® materials meet or exceed the performance standards of conventional petroleum-based plastics, ensuring suitability for various applications without compromising quality.
• Full Biodegradability
  Designed to harmonize with nature, Soleic® materials biodegrade under composting conditions, preventing long-term environmental pollution and reducing the accumulation of microplastics.
• Carbon Reduction
  By utilizing plant-based sources like algae, Soleic® materials contribute to lower carbon emissions compared to traditional plastics, supporting global efforts to combat climate change.

Plastic Gold: How Algenesis is Winning Big in Sustainability

Algenesis has made significant strides in the biomaterials industry by developing Soleic® technology. Algenesis has made significant strides in the biomaterials industry by developing Soleic® technology. The U.S. Department of Energy awarded Algenesis a $5 million grant to advance the production of biobased isocyanates from algae oils. (U.S Department of Energy)

The company’s advancements have also attracted government support. In 2024, the Pentagon awarded Algenesis $1.5 million to plan a facility for producing diisocyanates, essential components for polyurethanes. (San Deigo Business Journal)

Algenesis has established strategic partnerships to advance sustainable materials across various industries. In May 2023, Algenesis collaborated with Trelleborg, a leader in engineered polymer solutions, to develop sustainable thermoplastic polyurethanes (TPUs) for coated fabrics. (Trelleborg)

In November 2024, Algenesis partnered with ecogenesis biopolymers, LLC, a biomaterial engineering startup, to revolutionize the 3D printing industry. By integrating Algenesis’s Soleic® TPU into ecogenesis’s sustainable filament offerings, the collaboration aims to provide high-performance, eco-friendly materials for additive manufacturing. (Ecogenesis)

Algenesis also joined forces with RhinoShield, a prominent tech accessories producer, to develop injection-molded phone cases using Soleic® TPU. This partnership focuses on creating durable, biodegradable phone cases that offer robust device protection while addressing plastic waste concerns. (Rhinoshield) 

Raking in the Green: Funding Algenesis’s Plastic-Free Dream

Algenesis has raised $11.2 million in equity funding through four rounds, with additional support from grants. Their financial backing has come from a mix of institutional investors, corporate partners, and government grants. (Tracxn)

Early Investments and Seed Rounds

Algenesis began its funding journey with a $2.4 million seed round on April 16, 2021. This funding helped the company develop its flagship Soleic® technology and establish its foundation in sustainable material science. A smaller seed round followed on July 11, 2022, raising $847,000 to support further research and scale initial production efforts.

Major Milestones and Grants

The company received its first grant of $948,000 on September 15, 2019, through America’s Seed Fund. This funding, administered by the National Science Foundation, enabled Algenesis to validate its innovative approach to creating plant-based biodegradable materials. Another grant, awarded by the U.S. Department of Energy (DOE) on January 26, 2023, amounted to $5 million. This prize money recognized Algenesis’s potential to reduce environmental pollution by replacing petroleum-based plastics with sustainable alternatives.

Expansion Through Strategic Seed Rounds

Algenesis raised $5 million in an April 28, 2023, seed round led by institutional investors First Bight Ventures and Circulate Capital. Corporate investors included MIH Ventures, RhinoShield, and Diamond Sports. This funding aimed to expand the application of Soleic® technology into new industries like textiles and injection-molded products. The company secured an additional $3 million on October 18, 2024, in another seed round.

From Vision to Victory: What Algenesis Teaches Us About Big Ideas

Algenesis is redefining sustainability in material science. The company develops biodegradable, plant-based plastics that perform as well as traditional petroleum-based materials. Their flagship innovation, Soleic® technology, uses algae and non-food plants to create renewable, eco-friendly polyurethane for various applications. Algenesis tackles major environmental challenges like plastic pollution, greenhouse gas emissions, and microplastics. 

They aim to replace harmful plastics with materials that naturally degrade, harmonizing with ecosystems. Algenesis’s innovations extend into textiles and coated fabrics, showing the versatility of Soleic® technology. These materials help industries transition to sustainable alternatives without sacrificing performance or quality.

Algenesis started as an idea, like many you may have. What’s your big idea? Maybe it’s time to act. Algenesis’s bold idea—to fight plastic pollution with science. What could your bold idea achieve? Take inspiration from their journey and act on your ideas. The world needs more problem solvers. If you’re into stories of innovation, you’ll love what we have at Venture Kites. Check out other stories about startups making world changing innovation.