Entrepeneurship in Bioengineering 2022
Executive Summary – SeaWee
Francisco Cortez, Katja Turk 1105431, Libe, Roberta Intonato 105211, Selene Madureira 1105724, Unai , Petra
Zupančič
The problem
Untreated sewage and fertilizers that are washed from fields to freshwaters, industrial discharge of waste, and excessive
use of fertilizers results in surface water enrichment with nutrients such as nitrogen and phosphorus. Nitrogen and
phosphorus are the main metabolic sources for algae to grow, when these elements are present in high amounts in the
waters it accelerates algae blooms growth in lakes and seas where these nutrients accumulate. This phenomenon is called
eutrophication and is one of the main ecologic problems of aquatic ecosystems. Eutrophication not only affects the
marine biodiversity, but it also affects humans directly and indirectly. Algae blooms, besides blocking sunlight for
marine plants and photosynthetic organisms also promote a hypoxic environment, reduction of oxygen available in the
water, that directly affect all the biodiversity present in the affected local. Ultimately, this can lead to massive fish kills
and the phenomenon of so-called dead zones. Harmful algal blooms can also cause serious health issues due to food
poisoning and respiratory problems. Eutrophication changes the image of nature and consequently decreases coastal
property values as well as recreational use and tourism in polluted areas. That includes sports activities, boating trips,
and near-sea hotel and restaurant occupancy. Expenses due to eutrophication are also connected to high-priced
remediation techniques. It was estimated that eutrophication globally affects 240 000 km2 per year whereas coastal
offshore waters with 170 000 km2 per year represent most of the damaged areas. Taking the Baltic Sea as an example,
97% of its waters are highly polluted with nitrogen and phosphorus and suffer from intense eutrophication.
Mission
Driven by environmental concerns, our company SeaWee, developed a floating system technology for bioremediation
of polluted marine areas. Our mission is to reduce the number of pollutants present in the Baltic Sea and mitigate its
environmental impacts.
The Solution
Our solution aims to use the problem as solution, do what nature already does.
One of the bigger consequences of eutrophication is hypoxia. Hypoxia basically starts when the algae blooms start to
decompose after its growth. The decomposition of algae leads to an enormous bacterial activity in the degradation of
the organic matter and thus high oxygen consumption. This oxygen consumption by the bacteria is what leads to hypoxia,
the bigger the blooms the higher amount of oxygen is needed.
To avoid this, we will also use algae to remove the pollutants from the water but before they start to decompose, we use
a technology to remove the algae from the water to avoid bacterial activity.
Product description and Service
The product consists in a photobioreactor that will be used to remove pollutants (phosphorus and nitrogen) from the Sea
using microalgae, Clorella sp. The PBR (photobioreactor) consists in a group of bags attached to one another and that
are stuck in an area thanks to an anchor.
This PBR is surrounded by a microfiltration membrane which will allow pollutants and water to get inside the system
but will not allow microalgae to get into the environment.
Once we deposit the bags algae population will increase until production rate starts to fall so when that moment comes,
we will need to pick up the algae to start drying processes. Bags will be uplifted and will be let to dry until they are
ready to be picked up. This mechanism of uplifting the algae will be patented which will result in a cost of 6000$ (3000
for patent application and 3000 every 10 years for renewals.
Marketing analysis
We have decided to focus on the Baltic Sea as the first zone to remediate for different reasons. On the one hand, the
eutrophication levels in the Baltic Sea are high so it is a good starting point and on the other hand, there are a lot of
possible clients on that zone since the sea it is surrounded by many countries, which leads to more hotels, industries and
companies around it. After doing research, we concluded that we could have around 1600 possible clients. Apart from
that, the environmental concern has increased a lot throughout the years. Society is starting to realize that Eutrophication
is a huge ecological problem that must solved. That is why our product would be a big game changer to solve something
as big as eutrophication in the Baltic Sea.
Our possible clients can be divided in different segments depending on which field they belong to. They can be tourism
services, governmental companies, fish industries and more.
Nevertheless, it is important as well to know our competition. After analyzing different companies that by their own
methods are trying to remediate the Baltic Sea, we concluded that our product has more advantages comparing to the
existing other ones. Our main advantages are: it is a chemical free product, it is easy adaptable so it can be used in
different places (in freshwater), and that byproducts made (algae) can be used in other industries (fertilizers), promoting
circular economy.
Marketing Strategy
Entrepeneurship in Bioengineering 2022
Marketing strategy of our company is based on door-to-door selling and it depends on the targeted market, for example
hotels, municipalities, or governments. However, we are seeking market penetration also through social media, scientific
conferences, and demonstration of our products on exhibitions. We will sell our prime quality floating system including
assembly and deployment in sea for 20 000 €, with a subscription plan for maintenance and regular algae harvesting for
1 500 €/month. In case of buying more than one unit we will offer a discount (up to 20 %). Regarding the payment, 50%
of the total amount would be paid upon signing the contract and 50 % after delivering a product to the client.
#management, advisors, employees
Finances
Overview
Funding
In order to develop our technology and company we will be applicating for EU funds such as EIC, Germany Energy
and Climate fund, Interreg Funds among others. These funds will be 70% of our company initial investment. Besides
that, of the 30% available, 20% will be from venture capital and angel investments and the other 10% will come from
bank loan.
Team
Further Plans
Because our technology is easily adaptable to different aquatic environments, we can scale up the bioremediation
process to any lake or sea that is polluted with organic compounds (N and P). To scale up we need to address the
potential clients and marketing need for the region.
Referencies