In Kokkola, Finland, construction is set to commence this summer for the world's first bio-refinery that aims to utilize harmful brown algae, specifically sargassum. This innovative facility is backed by the Finnish startup Origin by Ocean in collaboration with the German chemical company CABB Group. The bio-refinery, which will cost €70 million to build, is projected to generate an annual revenue of €15 million, indicating a significant investment in sustainable technology and green chemistry.

The CEO and founder of Origin by Ocean, Mari Granström, highlighted the company's aggressive expansion in North America. The company is currently hiring a team in the U.S. to enhance their market presence, along with an additional employee in the UK. Granström indicated that the majority of the biobased chemicals produced at the Kokkola facility will be intended for the expansive U.S. market, which is being identified as the largest potential market for their products.

The bio-refinery will focus on processing harmful brown algae into biobased chemicals that have versatile applications in various industries, including cosmetics, textiles, and dietary supplements. This project not only aims to create a sustainable business model but also seeks to address environmental issues associated with harmful algae blooms, providing a dual benefit to both the economy and the ecosystem in the region.