Algreen: The feasibility study on commercializing Algreen fully biodegradable and VOC-free chipboard to the Chinese furniture industry.

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**VISION**Algreen developed sustainable and cost-effective chipboards from natural seaweed and wastepaper. Algreen chipboard using eco-friendly seaweed-based adhesive rather than petrol-based adhesive to glue the wastepaper chips. Thanks to Algreen's novel technology, Algreen chipboard is high-scalable, environmentally sustainable and VOC-free.**PROBLEM**Traditionally, chipboard is made by mixing particles or flakes of wood or jute-stick together with a resin and forming the mixture into a sheet. Chipboard is widely used for building construction and household furniture such as kitchen cabinets, bookcases, doors, windows, and covering the walls and floor.Most commercial chipboard is environmentally unfriendly, which contains highly toxic and carcinogenic adhesive, formaldehyde, which releases formaldehyde gas (VOC) into the atmosphere. Furniture containing formaldehyde can continue emitting small amounts of gas for up to 10 years.**MARKET**The global chipboard market reached a value of £15 Billion in 2020 (CAGR of 4.4% during 2021-2026).Countries including China, the United States, and Germany account for the largest markets in the furniture industry. China is the dominant exporter of wood furniture to the EU.China is the largest market base in the Asia-Pacific region, owing to its ever-increasing population, rising income, and rapid urbanization. It is also one of the major manufacturing hubs for almost every industry.After COVID, market recovery is speculated to be witnessed. Thus, the projected growing construction and furniture industries are expected to boost the demand in the local particle boards market in the post-pandemic recovery period.**ALGREEN SUSTAINABILITY**Recycling is a key global environmental concern, but especially when it comes to paper. Not only does it help to save trees, which is crucial to the sustainability of our planet, but recycling one tonne of paper, also saves at least 30,000 litres of water and between 3000 to 4000 kWh of electricity. This is enough to sustain an average three-bedroomed house for a whole year. Producing recycled paper also requires between 28-70% less energy consumption and uses less water.Open ocean seaweed farms can improve water quality. The World Bank predicts that achieving a global production of 500 million tons of seaweed by 2050 would absorb 10 million tons of nitrogen, which is 30% of the nitrogen estimated to enter the ocean, and 15 million tons of phosphorus. That same seaweed production of 500 million tons would consume 135 million tons of carbon, which is 3.2% of the carbon added to seawater each year from GHGs emissions.