go to http://www.aocs.org! Visit us at algaelabsystems.comComplete Algae Monitoring System Algae Biomass Summit 2014 Visit  cricatalyst.com!Nexus — Leaders in Greenhouse Systems Integration

Money

Algaeon expands with $2.75M funding

May 13, 2014
AlgaeIndustryMagazine.com

VP Business Development at Algaeon, Inc., Mike Neibler

VP Business Development at Algaeon, Inc., Mike Neibler

D an Human reports in the Indianapolis Business Journal that Indianapolis-based Algaeon Inc. plans to use $2.75 million in new funding to begin commercial production of its algae-based nutritional supplements.
 The company will move into an acre of greenhouse space owned by Heartland Growers at 2621 E. 186th St., in Westfield, Indiana, and install more than 800 of its bioreactors.

Founded in 2008, Algaeon has supported itself on seed funding while using a 0.10-acre greenhouse space to develop two main products. The recent investment will let Algaeon begin fulfilling contracts and generating revenue, said Mike Neibler, the company’s vice president of business development.

In June Algaeon will begin selling Astaxanthin, which they will market as a prevention for eye, heart and brain degeneration, as well as an anti-inflammatory for joints. Immune system booster Beta glucan will come to market later this year as a replacement for antibiotics in animal feed.

Algaeon has formed a strategic partnership with Heartland Growers that will provide it with greenhouse-operations expertise and expansion potential. Heartland operates 25 acres of greenhouses at the site.

Algaeon has gone through three prior rounds of funding that raised a total of $2 million, with the last round wrapping up in January 2013.
City Securities Corp. and BioCrossroads’ Indiana Seed Fund II returned as investors to the latest round. New investors included Bromet Capital Partners and several unnamed contributors.

Read More

More Like This…

HOME Algae Industry Jobs

Copyright ©2010-2014 AlgaeIndustryMagazine.com. All rights reserved. Permission required to reprint this article in its entirety. Must include copyright statement and live hyperlinks. Contact editorial@algaeindustrymagazine.com. A.I.M. accepts unsolicited manuscripts for consideration, and takes no responsibility for the validity of claims made in submitted editorial.

From The A.I.M. Archives

— Refresh Page for More Choices
Heliae, SCHOTT North America and Arizona State University (ASU) have announced a partnership to bring Heliae’s algae production technology to ASU’s algae testbed facility...
Scientists at the Energy Department’s National Renewable Energy Laboratory (NREL) have demonstrated that just two of six iron-sulfur-containing ferredoxins in a represent...
Valensa International and Contract Biotics have announced that Contract Biotics has started construction of an additional six acres of algae production units at the compa...
Libourne, France-based Fermentalg, an industrial biotechnology company that specializes in the production of oils and proteins derived from microalgae, has completed a su...
“Proterro has reached its Q1 sugar-production pilot milestones,” CEO Kef Kasdin reported at the recent Advanced Biofuels Leadership Conference, in Washington, D.C. “In fo...
A team of six University of Calgary researchers has been awarded funding for their project, Cost Effective Biotechnology for Carbon Capture and Re-Use, based on the conce...
Santa Fe Community College has been awarded a $50,000, SEED Infrastructure Grant from the Experimental Program to Stimulate Competitive Research (EPSCoR), for commercial ...
By sending algae into space, a U.S. Department of Agriculture (USDA) scientist and his team will be able to study some of the key mechanisms that control plant growth and...
Four years after the first optimistic calculations, the experimental cultivation of algae at Wageningen University in the Netherlands appears to be meeting expectations. ...
Kazuaki Nagata reports from Japan that while the Fukushima nuclear disaster has prompted vigorous discussion about alternative energy in Japan, there is a lack of a paral...
The Guardian reports that Prince Edward Island (P.E.I.), Canada-based Solarvest has created an inventive system utilizing a specific algal strain to grow and produce EPA ...
Jamie Radford writes in the Illawarra Mercury that Pia Winberg, from the University of Wollongong, believes that the South Coast of New South Wales, Australia (NSW) is in...
Algae Industry Magazine is pleased to announce a new Algae 101 series by our popular blogger, Mark Edwards, Professor, Arizona State University. The Algae Solutions to Na...
Algae manufacturer Cyanotech Corporation has announced implementing three major initiatives to improve Astaxanthin production at their Kailua Kona, Hawaii-based cultivati...
A recent discovery in the multicellular green alga, Volvox carteri,has revealed the origin of male and female sexes, showing how they evolved from a more primitive mating...
In an effort to propel the algae industry forward, the Algae Testbed Public Private Partnership (ATP3) offers a series of hands-on specialized workshops suited for partic...
Phys.Org reports that scientists Jolanda Verspagen and Jef Huisman of the University of Amsterdam, The Netherlands have concluded that rising CO2 concentrations in the at...
Bookending the upcoming Algae Biomass Summit, Sept. 29-Oct.2 in San Diego, will be industry tours to give attendees a first-hand look at the latest progress in technical ...