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Algal Scientific Corporation

Location:MI, US
Speaker:Paul Horst
Title:CEO
Primary Industry:Water
Executive Summary:Algal Scientific was founded in 2009 after winning the inaugural DTE Energy Clean Energy Prize. Wastewater containing nitrogen and phosphorus is constantly being released into waterways, resulting in severe environmental and economic damage. In the USA alone, this costs $4.3B annually due to the impairment of fishing, recreation, and public health. The EPA and states are imposing stricter regulations on the roughly 180,000 industrial and municipal treatment systems. Algal Scientific is commercializing technology using algae instead of traditional bacteria in the treatment process. This technology costs less, performs better technically and environmentally, and produces valuable biomass that can be converted into fuels, fertilizer, animal feed and other co-products. Our team includes executives with Fortune 500 experience as well as founding and taking public high tech firms. Our technical staff includes PhD candidates in algal biology and chemical engineering, as well as engineering management of biofuel plants. Our advisors include the leading authorities from industry and academia on wastewater and nutrient treatment. The technology was piloted in 2010 and a demonstration system is currently in operation with plans to scale up to commercial operation by late 2011. An EPA Phase I SBIR grant is in process. The company has raised over $400,000 to date and is now seeking up to $1.75M to fund additional demonstrations, launch commercial sales and provide project financing for early adopters. We project positive EBITDA in 2012, revenues exceeding $40M by 2015, and an investor exit via acquisition within 3-5 years.
Venture is:A-Round

 
 
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