Algenol

Algenol

An industrial biotechnology company developing an algae technology platform for producing ethanol and other biofuels.

Algenol is an industrial biotechnology company developing an algae technology platform for producing ethanol, biofuels, foods (protein and natural colorants), and personal care ingredients that is headquartered in Fort Myers, Florida and was founded in 2006 by Paul Woods, Craig Smith, Ed Legere, and Alejandro Gonzalez. Algenol's algae technology platform (consisting of a diverse collection of algae strains) converts C02 emitted from industrial processes into transportation fuels by converting C02 emissions into ethanol and other products.

Funding

Venture

In 2014 Algenol received $40 million in venture funding from BioFields.

Venture

On February 10, 2015 Algenol completed a venture capital funding round with $25 million in funding from BioFields. The CEO and co-founder of Algenol, Paul Woods, made the following statement regarding the companies funding from BioFields:

This investment provides the funding for Algenol to accelerate the process of shifting focus away from R&D and towards commercialization of the technology.

Timeline

Funding rounds

Funding round
Funding type
Funding round amount (USD)
Funding round date
Investment
Algenol, Grant, December 2007
Grant (money)
25,000,000
December 2007
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People

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Further reading

Title
Author
Link
Type
Date

Energy Department Announces $15 Million to Advance Algae-based Biofuels and Bioproducts

Web

July 14, 2016

Documentaries, videos and podcasts

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Link

Companies

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CEO
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References

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