go to http://www.aocs.org! Visit us at algaelabsystems.comComplete Algae Monitoring System Visit  cricatalyst.com!Looking for Algae Industry Research?

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
Researchers at the Paul Scherer Institute (PSI) in Wädenswil, Switzerland, have succeeded in producing energy-rich gas from microalgae, and in doing so have demonstrated ...
SCHOTT AG, of Mitterteich, Germany, and Algatechnologies Ltd. (Algatech), based at Israel’s Kibbutz Ketura, have signed an R&D agreement to strengthen their partnersh...
Analia Murias 
reports for fis.com that Chilean exports of products made from macroalgae generated a total of $195 million US in the first seven months of 2014, according...
James “Jamie” Levine took over the reigns at Sapphire Energy in July of this year as former President and CEO Cynthia “CJ” Warner stepped down, retaining her role as chai...
On September 25, 2014, a photobioreactor for the cultivation of algae was officially unveiled during a seminar at Thomas More University College in Mechelen, Belgium. Und...
Iran-based Qeshm Microalgae Biorefinery Co. (QMAB) has launched a biofuel being marketed as BAYA®, produced from a species of Nannochloropsis (strain 6016) isolated from ...
William Tucker writes in fullfreedom.org about the lure the oceans have for advocates of biofuel, particularly in Scandinavia. “Two-thirds of the globe is covered with wa...
Tess Riley writes in TheGuardian.com about how spirulina may be able to combat malnutrition in developing countries. Spirulina is one of the oldest life forms on Earth, c...
Allan Koay writes in thestar.com about a Universiti Malaya research project paving the way for the commercial production of paper pulp and bioethanol from seaweed. The Al...
Kevin Quon writes in Seeking Alpha about the financial plights and pivots of Solazyme, the algae industry’s most high profile recent IPO. In a year that started with a sh...
Much of the development of the algae industry in 2014 was driven by domestic and international alliances, partnerships, and mergers that brought complementary skills and ...
Green Star Products, Inc. (GSPI) has signed a contract to build a demonstration facility in Las Vegas, Nevada, to produce commercial quality algae. The Hybrid Algae Produ...
West Chester, Pennsylvania-based International Sustainability Group, Inc., an innovative green technology and sustainable manufacturing company, has entered the algae mar...
In an age where customer input is as easy as a click, OriginOil has tapped directly into its intended market to R&D their next generation algae harvester -- with a de...
Fort Myers, FL-based Algenol, and India's Reliance Industries Ltd., have deployed India’s first Algenol algae production platform. The demonstration module is located nea...