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Manta Biofuel awarded $1 Million from DOE

July 14, 2016
AlgaeIndustryMagazine.com

Manta co-founder Onur Unal

Manta co-founder Onur Unal

Manta Biofuel, of Bethesda, Maryland has won a $1 million award from the U.S. Department of Energy to further develop its algal technology. A member of Bethesda Green’s business incubator, Manta Biofuel LLC is a biotechnology firm that has developed a patent-pending method for producing renewable crude oil from algae. Manta grows algae, harvests it and converts it to a renewable, carbon-neutral crude oil.

Last month, the Department of Energy (DOE) awarded the prize to Manta, among 23 new projects, as part of the Small Business Innovation Research (SBIR) program to further develop clean energy technologies with a strong potential for commercialization and job creation. “This award from the Department of Energy will allow Manta to finalize the harvester design and commercialize our renewable oil,” said Onur Unal, Manta co-founder.

Earlier this year, Manta was awarded $100,000 from the Maryland Technology Development Corporation (TEDCO) Technology Commercialization Fund. That funding will also be used to advance Manta’s technology and product commercialization efforts.

Manta joined the Bethesda Green business incubator in 2015. “Bethesda Green has been integral in Manta’s success by offering business connections and opportunities for growth,” said Unal. The business incubator, focused on green, triple-bottom line businesses, offers business plan mentoring, networking, professional services and more.

“Manta’s biotechnology green solution exemplifies how entrepreneurs and leaders are tackling the problem of carbon-heavy fuels. We applaud their approach to solving environmental sustainability issues as business leaders,” said Véronique Marier, Bethesda Green executive director.

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