go to http://www.aocs.org! Algaetech International — The Future is NowComplete Algae Monitoring System 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...
Biomass abounds on Earth, as forests, fields, sewage and seaweed. But only a small fraction, mostly human or agricultural waste, can be harvested without posing environme...
Algae.Tec Ltd has received its first purchase order from Reliance Industrial Investments and Holdings Limited (RIIHL), in connection with the arrangements announced on Ja...
In a global scenario where increasing attention is being directed towards issues of sustainability and limited food supplies, algal sources offer immense scope for the ra...
Solazyme, Inc. has announced results for the fourth quarter and full year ended December 31, 2013. “2013 was a year of great progress for Solazyme as we readied our first...
Technical standards define critical terms and metrics to add wisdom for the algae industry. Agreement among science and business leaders represents possibly the most diff...
Libourne, France-based Fermentalg, an industrial biotechnology company that specializes in the production of oils and proteins derived from microalgae, has completed a su...
As the number of photobioreactors in an algae growing operation increases, there is a need for both autonomous control and monitoring of individual PBRs, as well as centr...
Students from three Arizona universities will demonstrate their algae research projects at an Innovation Showcase May 1, in Arizona State University’s Sun Devil Fitness C...
A series of articles by Stephen Mayfield and the UCSD Laboratory deserve recognition for their articles on algae-based medicines for malaria and cancer. Mayfield and his ...
Algal oil represents one of the significant segments within the omega-3 polyunsaturated fatty acid (PUFA) ingredients market. Specifically, docosahexaenoic acid (DHA) is ...
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 ...
Starting in the early 70s, agencies in the former USSR invested more than 20,000 person-years of research and development to produce Bio-Algae Concentrates (BAC) that hel...
Algae manufacturer Cyanotech Corporation has announced implementing three major initiatives to improve Astaxanthin production at their Kailua Kona, Hawaii-based cultivati...
Steven Mufson reports for the Washington Post that Algenol Biofuels estimates hackers have attempted to break into its computers 39 million times in four months this year...
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...
Perth, Western Australia-based Algae.Tec Limited has announced that the Reliance Group has converted the first tranche of options following the positive progress achieved...
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...