Chitose Group, a leader in the bioeconomy, has raised $7 million through a third-party allotment of shares with Shiseido. In doing so, the companies have entered into a strategic collaboration agreement.
WHO: Chitose Group is a family of biotechnology companies leading the global bioeconomy and an expert in large-scale photosynthetic production of microalgae. Because microalgae boast high biomass production efficiency compared with land plants, it can be a new resource that is not dependent on finite fossil resources.
The Matsuri project aims towards the establishment of an advanced microalgae-based industry. 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.
In 1872, Shiseido opened its doors in Ginza, Tokyo. The family business that started out as Japan’s first Western-style pharmacy transformed into a global beauty giant that currently operates in approximately 120 countries and regions around the world. Shiseido’s history and tradition is characterized by a long string of innovations and category firsts that have repeatedly set new standards and whose effects have rippled across the entire beauty industry.
WHY: Through the partnership with Shiseido, Chitose will accelerate the development of circular manufacturing based on microalgae in the cosmetics industry. 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.
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