Mara Renewables, a Halifax biotechnology firm, has secured US $9.1 million in new funding from S2G Investments. The capital will expand research and development, boost manufacturing capacity and accelerate global commercialisation of the company’s algae-based DHA oil.
Why algae DHA matters
Most omega-3 products rely on wild-caught fish, a supply chain facing rising ecological and volume pressures. Mara cultivates a proprietary microalgal strain (Schizochytrium sp. T18) in closed bioreactors, producing a vegan oil that, according to company data, replaced the need to harvest about 6.7 billion anchovies in 2024.
The resulting oil meets FSCC 22000 standards and carries Halal and Kosher certification, making it suitable for infant formula, dietary supplements, functional foods and aquaculture feed. Market analysts expect global demand for sustainable omega-3 ingredients to rise as consumers and regulators push for lower-impact nutrition.
What the funding enables
Founded in 2012 by John Risley, co-founder of Clearwater Seafoods, Mara holds more than 20 patents covering its fermentation and purification processes. A 2024 partnership with Checkerspot increased high purity DHA output, and customers such as Nestlé, Ritual and Simris already use the oil in human and animal health products.
Chief executive Harry Boot said the new investment “strengthens our ability to meet growing global demand with reliable alternatives that protect aquatic ecosystems.” The company plans to double capacity, fortify its supply chain and expand into Asia, Latin America and Europe.
Including the latest round, Mara has raised roughly US $51 million to date. As interest in climate-conscious nutrition grows, the firm’s scale-up underlines Canada’s emerging role in food-tech innovation and sustainable marine alternatives.
