CHITOSE Group raised 7 million USD through a third-party allotment of shares with Shiseido. Through the partnership with Shiseido, one of the most influential leading companies in the cosmetics market, CHITOSE will accelerate the development of circular manufacturing based on microalgae in the cosmetics industry.
Powered by the sun, microalgae use carbon dioxide to efficiently create a wide variety of organic compounds such as proteins, fats, and carbohydrates. Furthermore, microalgae can be cultivated using land that is difficult to use for agriculture, such as deserts and wastelands. Because microalgae boast high biomass production efficiency compared with land plants, it has the possibility of being a new resource that is not dependent on finite fossil resources.
CHITOSE has been leading the MATSURI project since the spring of 2021, focusing on microalgae as a new industry as a substitute for the petroleum industry. Through the MATSURI project, CHITOSE collaborates with players from various industries, transcending positions and sectors to advance large-scale photosynthetic production and develop diverse applications that support people’s lives including fuel, plastics, food, cosmetics, and more.
Shiseido has been participating in MATSURI since April 2022, aiming to create a sustainable world where everyone can enjoy a lifetime of happiness through the power of beauty. Through this partnership, CHITOSE and Shiseido will accelerate the development and mass-production of cosmetic ingredients and containers using microalgae, and further explore the development of ingredients that can be used in future food businesses. Through the activities of MATSURI, CHITOSE and Shiseido aim to lead the creation of a circular economy through sustainable value creation, revitalizing the global cosmetics market.
