Living Ink, a Colorado-based bio-based pigment manufacturer, has successfully secured $3.5 million to scale its flagship product, Algae Black. This eco-friendly pigment is used by major brands like Nike, Patagonia, New Balance, Coach, and American Eagle. Living Ink is on a growth trajectory, focusing on carbon removal technology to address climate change. Algae Black serves as a sustainable alternative to fossil fuel-derived carbon black solutions, reducing greenhouse gas emissions and utilizing algae biomass waste that would otherwise end up in landfills.

The patented black pigment, derived from algae biomass, provides a renewable and carbon-negative solution for various industries. Living Ink plans to use the funding to enhance production efficiency, explore diverse feedstocks, scale up operations, and lower costs. The financing round was co-led by the U.S. Department of Energy and strategic investors. Half of the $3.5 million funding came from the U.S. Department of Energy's grant programs, emphasizing carbon dioxide removal efforts.

Strategic investors contributing to the funding include Kayan Ventures, a venture fund focused on health-tech and climate-tech, and Fashion for Good, a global initiative promoting positive solutions in the apparel industry. Living Ink's CEO and co-founder, Scott Fullbright, expressed enthusiasm about the product's potential and emphasized the importance of scaling, reducing costs, and forming partnerships with influential brands to transition entire product lines to bio-based offerings.

Living Ink's Algae Black formulations are already in use for various commercial color applications, such as packaging, apparel, footwear, fabric dyeing, plastics, paints, coatings, and rubbers. Nike, for example, utilized Algae Black ink for a sneaker collaboration with Billie Eilish. Bio-based pigments, like those produced by Living Ink, are gaining traction among investors, with other companies also securing funding for similar initiatives.

Investment in sustainable alternatives is evident in the success of companies like Octarine Bio and Pili, which focus on microbially fermented colors and high-performance bio-based indigo, respectively. The adoption of alternative dyes is notable, as seen with Levi's featuring BioBlack TX by Nature Coatings, a 100% bio-based, certified, and carbon-negative black pigment, in a recent collection. Additionally, AGI Denim introduced fabrics dyed with products from Huue, a California startup using microbial processes for bio-based indigo, which secured a $14.6 million Series A funding last year.