The $50 million Peterborough-based bioproducts start-up Noblegen—an advanced biomaterials company dedicated to developing specialty microorganism-based products for a wide range of consumer and industry sectors—has made another huge announcement about its plans as it grows into a high impact company that will help change the world.
The groundbreaking company, which researches, cultivates and markets unique microalgae strains and their derivatives for various market applications from wastewater treatment to nutritional products—and eventually, pharmaceuticals—announced on Tuesday (October 4th) the injection of a further $5.5 million investment to their startup to build the largest production facility of its kind in North America.
The (rapidly expanding) Nobelgen team
Noblegen’s recent private equity raise will be used to construct the first of two commercial manufacturing facilities in 2017 and support 33 jobs in Ontario’s bioeconomy.
Inventor Adam Noble
Inventor Adam Noble, Founder of Noblegen, created this amazing new filtration method.
Here's how it works...
The Euglena BioFiltration System is a simple concept inspired by nature. The idea derives from algae blooms and their ability to extract nearly all nutrients from their surroundings. Noble took this one step further to employ a very unique alga that can be tricked into absorbing minerals, heavy metals and other pollutants from the environment. Though algae blooms wreak havoc on our ecosystems, Noble has applied the same philosophy for positive results.
“We see algae differently. We want to create a more sustainable future," Noble says. "We are going to change the way the world treats water and we want to do that right here in Peterborough."
Dynamic Duo: Noblegen Executive VP Andressa Lacerda pictured with Founder Adam Noble
Peterborough's high tech/green tech accelerator Innovation Cluster tweeted this out about Tuesday's announcement...
Noblegen has boasted an impressive enterprise valuation of $50 million due to its ground-breaking technology platform and high potential to impact global markets, and is currently in negotiations with several multinational customers.
File photo: Adam Noble
The new plant will create 15 new local jobs which will increase the total of Noblegen’s staff to over 30 by the end of year. Increasing employment opportunities for skilled professionals and students in Peterborough has been a focus for the company since its founding in 2013.