twittertopbarlinks_eventstopbarlinks_requesttopbarlinks_archives
NCMA Algae Tips
Click here for more information about Liqofluxphenometrics515R1
Visit cricatalyst.com!Commercial Algae Professionals

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.

More Like This…

HOME A.I.M. Archives

Copyright ©2010-2015 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
Renewable fuels company Muradel has launched Australia’s first integrated demonstration plant to sustainably convert algae into green crude, as a first step towards a com...
Brian Krassenstein, writing in 3Dprint.com, goes deeper into the recent paper in Engineering in Life Sciences journal discussing the impact 3D bioprinting will have in th...
Algae.Tec has announced a collaboration agreement for the commercialization of its algae production technology with Larimar Energy SRL, of the Dominican Republic. The ene...
The Biotechnology Industry Organization (BIO) has named Solazyme CEO and co-founder Jonathan S. Wolfson as the recipient of its 2015 George Washington Carver Award for in...
Rich McEachran writes in the Guardian that, in the process of surfacing a road, layers of asphalt – which is composed mostly of bitumen (a byproduct of crude oil distilla...
Scientists have been investigating the likely future impact of changing environmental conditions on ocean phytoplankton, which forms the basis of all the oceans' food cha...
Mark Harris writes in the Guardian about a pilot project in Las Cruces, New Mexico, where Dr. Peter Lammers, a professor in algal bioenergy at Arizona State University, a...
With large-scale production at low cost a future possibility, many corporations in Japan are beginning to jump on the algae fuel bandwagon. Heavy industry giant IHI Corp....
A new $1 million relationship between Michigan State University and ExxonMobil will expand research in the fundamental science to advance algae-based fuels. Dr. David Kra...
I’m an aquanaut teen. I was born in immersion in 2050 in an underwater farm called “Aequorea” off the coast of Rio de Janeiro. Bio-inspired, the farm draws its name from ...
An enzyme responsible for making hydrocarbons has been discovered by Texas A&M AgriLife Research scientists studying the common green microalga Botryococcus braunii. ...
The water sample taken from the St. Lucie River near the coastline of Ft. Pierce, Florida was loaded with blue-green algae when it arrived in Ben Spaulding’s lab in Scarb...