Algenesis
Algenesis is a San Diego-based material science company that develops Soleic®, a plant-based, fully biodegradable polyurethane used by brand partners in footwear, consumer electronics accessories, apparel, outdoor gear, and furniture to replace petroleum-based plastics.
- Company typePrivate
- Founded2013
- HeadquartersSan Diego, United States
- Headcount11–50
- GTM typeB2B
- OfferingHardware or Manufacturing
What Algenesis does
Algenesis is a San Diego-based material science company founded in 2013 that develops Soleic®, a plant-based, fully biodegradable polyurethane material branded as the world's first of its kind in high-performance applications. Its proprietary chemistry combines algae-derived biochemicals with conventional polyurethane formulation know-how, yielding two primary product lines: the Soleic® AB PU system for foam applications in footwear and furniture, and the Soleic® TPU system for molding, extrusion, coated textiles, and foam. The company claims its materials reduce greenhouse gas emissions by up to 60% compared with petroleum-based equivalents while eliminating microplastic shedding at end of life, and its innovation was recognized with the 2020 CPI Innovation Award.
The company operates a B2B enterprise sales motion targeting brand partners in footwear, consumer electronics accessories, apparel, outdoor gear, furniture, and 3D printing. Revenue is generated through one-time licensing and direct sale of Soleic® material formulations to manufacturers, with pricing quote-based on volume and application and a stated multi-year contract cadence. Confirmed customers include BLUEVIEW (footwear), RHINOSHIELD (phone cases), ACBC (luxury apparel), Stoke Tracks (outdoor gear), ecogenesis biopolymers (3D printing filament), and a tourism collaboration with San Diego Tourism Authority and TED. The business has 11-50 employees and operates from offices and labs at 11760 Sorrento Valley Rd in San Diego, with a Delaware corporate domicile (Algenesis Corp).
Algenesis has raised approximately $18.7M across eight funding rounds from 2018 through 2024, combining venture capital (First Bight Ventures and Circulate Capital co-led a $5M round in October 2023) with non-dilutive government funding from the NSF and DOE Bioenergy Technologies Office (including a Phase I SBIR award of up to $206,500 announced June 2026). In November 2025 it entered a co-development partnership with P2 Science to extend Soleic® into algae-derived chemicals and 100% biobased polyurethanes for beauty and personal care markets. Founder Stephen Mayfield serves as co-founder and CEO, with Tom Cooke as President, indicating an early-stage team transitioning toward commercial scale-up.
Algenesis firmographics
Firmographics- Name
- Algenesis
- Legal name
- Algenesis
- Website
- https://algenesismaterials.com
- Company type
- Private
- Founded year
- 2013
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Short description
- Algenesis is a San Diego-based material science company that develops Soleic®, a plant-based, fully biodegradable polyurethane used by brand partners in footwear, consumer electronics accessories, apparel, outdoor gear, and furniture to replace petroleum-based plastics.
- Ownership category
- akta.pro rank
Algenesis industry classification
Industry- Product category
- Biodegradable polyurethane materials
- NAICS
- Resin and Synthetic Rubber Manufacturing (32521), Urethane and Other Foam Product (except Polystyrene) Manufacturing (32615)
- SIC
- Plastic Materials, Synth Resins & Nonvulcan Elastomers (2821), Plastics Foam Products (3086)
- akta.pro primary industry
- Polyurethanes (MDI/TDI, Polyols, PU Systems) (IMAEADAH)
- akta.pro secondary industries
- Bio-based & Biodegradable Polymer Resin Manufacturing (PLA, PHA, PBS, starch blends) (IMANAAAG), Polyurethane (PU) Flexible Foam Manufacturing (IMANAIAC), Footwear Components & Materials (Uppers, Soles, Laces, Insoles) (CRAAACAK)
Keywords
Where Algenesis is headquartered
LocationHeadquarters
- HQ city
- San Diego
- HQ country
- United States
- HQ region
- North America
Offices1 record
Markets served
Algenesis business model
Business model- GTM type
- B2B
- Offering type
- Hardware or Manufacturing
- Cost components
- Technology or R&D, Personnel, Supply Chain, Operations, Marketing or Sales, Infrastructure
Revenue model
- Soleic® Material Sales: Algenesis generates revenue through the direct sale of its Soleic® branded polyurethane material systems (AB PU and TPU systems) to brand partners in footwear, furniture, apparel, and consumer electronics. The company sells material formulations and licenses its technology to manufacturers.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Other | Multi-year contract | Custom B2B pricing based on volume and application |
Go-to-market motion1 record
Distribution channels1 record
Marketing channels7 records
Algenesis product offering
Product offeringCore offering
Algenesis manufactures and sells Soleic®, the world's first fully biodegradable, high-performance plant-based polyurethane material, offered as two chemical systems: the Soleic® AB PU system for foam in footwear and furniture, and the Soleic® TPU system for molding, extrusion, coated textiles, and foam. The company supplies Soleic® material formulations and technology licensing to enterprise brand partners in footwear, furniture, apparel, consumer electronics, outdoor gear, and 3D printing who need a drop-in sustainable replacement for petroleum-based polyurethanes.
Product overview
Algenesis manufactures Soleic®, the world's first fully biodegradable, high-performance plant-based polyurethane materials designed to replace petroleum-based plastics. The company offers two primary chemical systems: the Soleic® AB PU system for foam applications in footwear and furniture, and the Soleic® TPU system for broader applications including molding, extrusion, and coated textiles. Both systems reduce greenhouse gas emissions by up to 60% compared to petroleum-based alternatives. The technology enables true circularity through fully biodegradable end-of-life pathways, addressing microplastic pollution while maintaining product durability.
Differentiator
Problem solved
Functional benefit
Brands
- Soleic® AB PU system: Proven applications include foam with a range of densities, ideal for footwear and furniture. Reduces GHG emissions up to 60% compared to petroleum-based AB/PU.
- Soleic® TPU system
Products and services
- Soleic® AB PU system High-performance, plant-based polyurethane chemical system designed for foam applications including footwear and furniture. Reduces greenhouse gas emissions up to 60% compared to petroleum-based AB/PU alternatives and enables microplastic-free end-of-life. Sold to enterprise brand partners and manufacturers.
- Soleic® TPU system Plant-based thermoplastic polyurethane system for a wide range of applications including molding, extrusion, coated textiles, and foam. Reduces greenhouse gas emissions up to 60% compared to petroleum-based TPU alternatives. Sold to enterprise brand partners and manufacturers.
- Soleic® technology (algae-derived biodegradable polyurethane platform) The world's first fully biodegradable, high-performance polyurethane material platform. Plant-based technology that eliminates microplastics while maintaining durability comparable to petroleum-based alternatives, available as Soleic® AB PU and Soleic® TPU systems for footwear, furniture, apparel, consumer electronics, outdoor gear, and 3D printing customers.
Quantifiable outcome
- Reduces GHG emissions up to 60% compared to petroleum-based polyurethane equivalents
- +1 more outcomes
Companies that use Algenesis
Customer profileNamed customers6 records
Segments5 records
Ideal customer profiles6 records
Algenesis technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature3 records
Algenesis partnerships and signals
Strategic signalPartnerships
One partnership is on record.
- P2 SciencecoreAlgenesis and P2 Science entered a collaboration to develop algae-derived chemicals and 100% biobased, biodegradable polyurethanes. The partnership combines P2's proprietary green chemistry process with Algenesis' bio-innovation capabilities, targeting performance polymers for beauty, personal care, and beyond.
Scale indicators4 records
Recent moves6 records
Expansion highlights5 records
Algenesis competitors and assessment
Company assessmentBroad incumbents
- NatureWorks: World's largest PLA producer, supplying bio-based polymers into packaging, foodservice and durable goods. While not a direct PU competitor, it represents the incumbent bio-polymer platform brand customers are likely evaluating alongside Soleic® for sustainability commitments.
- Covestro: One of the world's largest polyurethane and polycarbonate producers; offers plant-based / mass-balance attributed PU systems and serves the same footwear, furniture and automotive customers. Its CQ product line and scale represent the primary competitive threat to Algenesis' sustainability positioning.
- BASF: Global chemical major with a polyurethane systems business (Lupranate, Elastopan, Elastollan) and a biomass-balance-attributed PU portfolio. Reaches virtually every footwear and furniture brand Algenesis targets and has materially larger R&D and manufacturing resources.
- Lubrizol (Engineered Materials / Estane): Berkshire Hathaway-owned specialty chemicals company with a major TPU business (Estane). Has launched bio-based TPU grades and serves the same coatings, extrusion and elastomer customers, making it a direct overlap on the Soleic® TPU system.
- Stepan Company: Manufactures polyurethane systems and polyols, serving rigid/flexible foam and CASE applications. Operates in the same PU systems value chain as Soleic® and would be a logical commercialization partner — or competitor — for bio-based polyol systems.
- Danimer Scientific: Producer of PHA-based bioplastics (Nodax) used in single-use packaging and coatings. Competes for the same sustainability/circularity narrative and brand-level procurement relationships as Algenesis.
Direct peers
- Evoco: Develops plant-based polyurethane foam specifically for the footwear industry as a drop-in replacement for petroleum-based foams. Operates in the same niche (bio-based PU foams for footwear) and targets the same sustainability-driven shoe brand customers.
- Balena: Develops fully biodegradable, bio-based polymer materials (BioCir) for fashion and footwear applications, including shoes. Direct competitor for the same footwear and apparel brand customers that Algenesis is pursuing with Soleic®.
- FKuR Kunststoff: German compounder specializing in bio-based and biodegradable plastics (PLA, PHA, PBS blends). Sells formulation expertise and compounds to converters and brand owners seeking drop-in sustainable material alternatives.
Emerging players
- Algix: Produces algae-based bioplastics (Solaplast, Naturespun) targeting flexible films, foams and durable goods. Shares the algae-feedstock origin story and sustainability positioning with Soleic®, making it a thematic overlap in the algae-derived materials space.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat4 records
Key risks7 records
Key highlights7 records
Customer concentration
Algenesis social profiles
Digital presenceAlgenesis financial estimates
Financial estimateRevenue estimate
Valuation estimate
Algenesis leadership team
Management profileNumber of profiles
Profiles4 records
Algenesis funding detail
Funding detailFunding overview
Funding rounds8 records
Investors8 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Algenesis M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Algenesis
What does Algenesis do?
Algenesis manufactures and sells Soleic®, the world's first fully biodegradable, high-performance plant-based polyurethane material, offered as two chemical systems: the Soleic® AB PU system for foam in footwear and furniture, and the Soleic® TPU system for molding, extrusion, coated textiles, and foam. The company supplies Soleic® material formulations and technology licensing to enterprise brand partners in footwear, furniture, apparel, consumer electronics, outdoor gear, and 3D printing who need a drop-in sustainable replacement for petroleum-based polyurethanes.
Is Algenesis a public or private company?
Algenesis is a private company. It is classified as venture growth investor backed and is currently operating.
When was Algenesis founded?
Algenesis was founded in 2013. It employs 11 to 50 people.
Where is Algenesis based?
Algenesis is headquartered in San Diego, United States, in the North America region.
How does Algenesis make money?
One revenue line is on record: soleic® Material Sales.
Who are Algenesis's main competitors?
Broad incumbents on record are NatureWorks, Covestro, BASF, Lubrizol (Engineered Materials / Estane), Stepan Company and Danimer Scientific. Direct peers are Evoco, Balena and FKuR Kunststoff. Algix is listed as an emerging player.
Does Algenesis have an API?
No public API is recorded for Algenesis.
What industry is Algenesis in?
Algenesis's product category is Biodegradable polyurethane materials. Its primary akta.pro industry code is IMAEADAH, Polyurethanes (MDI/TDI, Polyols, PU Systems), with a secondary code of IMANAAAG, Bio-based & Biodegradable Polymer Resin Manufacturing (PLA, PHA, PBS, starch blends). Its NAICS code is 32521 and its SIC code is 2821.