Dutch-based Lgem announces share issuance: ROM InWest becomes new shareholder, Navus Ventures increases investment

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The Netherlands-based Lgem, a biotech scale-up, announced significant share issuance on Wednesday, March 19. 

As a result, ROM InWest has become a new minority shareholder, while Navus Ventures (part of the van der Lely family office) will increase its stake in the company. 

Last year, Navus Ventures made an undisclosed investment to help Lgem speed up the growth of its two-phase algae technology and AlgaeHUB de-risking facility.

Co-founder Ruud Olij will also expand his involvement, says the company. 

The share issue aims to accelerate Lgem’s growth, ensuring faster globalisation and driving R&D, product development, and supply chain investments.

Bas Swildens, CEO of Lgem, says, “This share issue with ROM InWest and Navus Ventures marks a milestone in Lgem’s journey. It is a strong endorsement of our ambitions, taking industrial algae cultivation to the next level.”

Lgem: Accelerating algae innovation

Lgem, led by Bas Swildens, specialises in developing and producing photobioreactors (PBRs) for microalgae cultivation.

The Dutch company’s two-phase PBR solutions offer increased productivity (up to 70 per cent) and deliver stable algae production at lower operational costs (up to 80 per cent). 

The systems range from 20 to over 1,000,000 litres and can produce any microalgae species, even the most fragile ones.

The Dutch firm has also established the AlgaeHUB to minimise investment risk for its clients. 

AlgaeHUB, which spans over 7,000 square metres and has over 20 full-time employees, comprises 18 production units. 

It allows customers to assess and enhance their business plan on an industrial scale before committing substantial financial resources, thereby mitigating investment risk.

The investor

Navus Ventures invests in tech companies in the food and energy sectors. As part of the van der Lely family office, they take a long-term approach to partnering with high-tech firms committed to sustainable transitions within these industries, providing funding, expertise, and networking support.

Jaap Zijlstra, Investment Manager at Navus Ventures says, “Since we partnered with Lgem a year ago we have seen solid execution and commercial traction taking off, therefore we are increasing our investment in Lgem as a reflection of our confidence in their technology and strategic direction.”

ROM InWest is the regional development agency of the Dutch province of North Holland. 

It focuses on the societal transitions essential in energy, circular economy, food, and digitalisation. 

Through various accelerator programmes, ROM InWest supports these entrepreneurs in scaling up and making their solutions fundable and helps them find external financiers.

ROM InWest also invests in these companies from the SME Fund and the Transition Fund. 

Janet Nieboer, CEO of ROM InWest, says, “Through their technological solutions and knowledge of algae cultivation, Lgem is uniquely positioned to make the global food supply, aquaculture, animal nutrition, cosmetic and pharmaceutical industries healthier and more sustainable quickly and on a large scale.” 

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Vigneshwar Ravichandran

Vigneshwar has been a News Reporter at Silicon Canals since 2018. A seasoned technology journalist with almost a decade of experience, he covers the European startup ecosystem, from AI and Web3 to clean energy and health tech. Previously, he was a content producer and consumer product reviewer for leading Indian digital media, including NDTV, GizBot, and FoneArena. He graduated with a Bachelor's degree in Electronics and Instrumentation in Chennai and a Diploma in Broadcasting Journalism in New Delhi.

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