The bio-based pigment manufacturer that supplies Nike, Patagonia, New Balance, Coach and American Eagle is in growth mode.
Living Ink announced this week that it secured $3.5 million to scale its flagship product, Algae Black.
The Colorado company aims to scale carbon removal technology to help mitigate climate change. With Algae Black, Living Ink offers a “drop-in replacement” to fossil fuel-derived carbon black solutions that emit greenhouse gasses during production and are sourced from finite resources.
The patented black pigment is made from algae biomass waste that would otherwise end up in landfill. The resulting pigments and ink formulations are safe, renewable and carbon-negative product solutions for farms and brands across multiple industries.
Living Ink said it will use the funding to increase yields, utilize more diverse feedstocks, scale up production, and reduce costs.
The financing was co-led by the U.S. Department of Energy and strategic investors. Of the total $3.5 million secured in this round, $1.75 million was awarded through the U.S. Department of Energy’s grant programs, Phase II Small Business Innovation Research Program and the Carbon Dioxide Removal Program.
Another $1.75 million came from strategic investors, including Kayan Ventures, an early-stage venture fund focused on opportunities in health-tech and climate-tech and Fashion for Good, the Amsterdam-based global initiative to develop positive solutions for the apparel industry. In April, Fashion for Good launched a digital library of sustainable dyestuff. It also initiated lab and pilot trials of 15 dyestuff innovations to ensure they are safe for commercial use.
“The enthusiasm about our product is off the charts and it’s all about scaling, lowering price point and partnering with great brands and production partners. These partnerships are allowing us to not only launch new products, but to start converting entire product lines with our bio-based product offerings,” said Scott Fullbright, Living Ink CEO and co-founder.
Algae Black formulations are already used in commercial color applications. Ink is used for packaging, apparel, footwear, fabric dyeing, plastics, paints, coatings, and rubbers. In August, Nike used the ink for the insole and tongue graphic of a sneaker made in collaboration with Billie Eilish.
Bio-based pigments are a hit with investors. Danish synthetic biology firm Octarine Bio recently raised 4.35 million euros ($4.6 million) to scale its microbially fermented colors. French bio-tech company Pili secured $15.8 million in Series A funding in February to help it produce the first tons of high-performance bio-based indigo.
Companies are adopting the alternative dyes. BioBlack TX by Nature Coatings, a 100 percent bio-based, certified and carbon negative black pigment, featured in a recent collection by Levi’s. The dye is offered by Artistic Milliners and Orta for Spring/Summer 2025. In October, AGI Denim introduced fabrics dyed with products from Huue, the California startup using microbial processes to create bio-based indigo. Huue sewed up a $14.6 million Series A last year.