FedDev Ontario Contributes $600,000 to Bio-based Innovations
News Release
Local start-up is working hard to bring sustainable solutions to market and grow into a job-creating global leader
April 27, 2017 – Peterborough, Ontario – Federal Economic Development Agency for Southern Ontario (FedDev Ontario)
As the world increasingly seeks out more sustainable and renewable resources, innovative Canadian companies, such as Noblegen Inc., are leading the way.
Starting off with a high school science fair project, Noblegen CEO, Adam Noble, studied how certain types of algae could be used to treat waste water. The award-winning CEO has since established Noblegen, a Peterborough-based biotechnology company. Through innovative and unique production processes, Noblegen can sustainably grow algae that can be used to create bioproducts, such as plant-based proteins and oils. These bioproducts can then be used in a variety of applications, such as food and beverage, supplements, cosmetics and water purification processes. They offer nutritional and environmental advantages and can substitute for non-renewable materials, which contributes to a healthier environment for all Canadians.
Today, on behalf of the Honourable Navdeep Bains, Minister of Innovation, Science and Economic Development, the Honourable Maryam Monsef, Minister of Status of Women and Member of Parliament for Peterborough–Kawartha, was at Noblegen Inc. to announce an investment of up to $600,000 to help the company expand its marketing activities and sell its advanced bioproducts on a global scale. The company will initially focus on the nutritional supplements and animal nutrition markets, increasing the availability of all-natural, environmentally responsible products for health conscious consumers.
This repayable contribution, through FedDev Ontario's Investing in Business Innovation initiative, is expected to create up to 22 skilled jobs in Peterborough.
Budget 2017 introduces the Government's Innovation and Skills Plan. This plan will help make Canada a world-leading centre for innovation, create good, well-paying jobs, and strengthen and grow the middle class. A key element of this plan is supporting innovation in key growth sectors, which includes clean technology.
Quotes
“Today's announcement is exciting news for Peterborough. I am proud to see that Noblegen Inc. is showcasing its leadership in the development of sustainable solutions that can shape the future of biotechnology to the world. This funding will help an inspiring local start-up to reach new markets, and is proof of what can be accomplished when we invest in our young entrepreneurs.”
– The Honourable Maryam Monsef, Minister of Status of Women and Member of Parliament for Peterborough–Kawartha
“Our planet has a limited supply of non-renewable resources. Canada's future depends on embracing greener, more sustainable solutions. By investing in innovative clean technology companies such, as Noblegen Inc., we can create well-paying, middle-class jobs, while contributing to a healthier and cleaner planet. We are also supporting companies that are ready to compete globally, which helps to create an innovation-driven economy.”
– The Honourable Navdeep Bains, Minister of Innovation, Science and Economic Development and Minister responsible for the Federal Economic Development Agency for Southern Ontario
“While we have developed naturally-inspired products to address significant industrial challenges, we must now determine how we can get these products to market. The contribution from the Government of Canada, through FedDev Ontario, will allow us to get our sustainable products into the hands of the largest global actors, creating local employment in Canada, while helping to preserve our planet.”
– Adam Noble, Founder and Chief Executive Officer, Noblegen Inc.
Quick Facts
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Noblegen Inc. manufactures specialty algae-based bioproducts for a wide range of applications, including food and beverage, nutritional supplements, animal feed, cosmetics, pharmaceuticals, as well as waste water treatment.
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The company, formerly known as Noble Tech, was founded in 2013 by Adam Noble and Dr. Andressa Lacerda. Along with winning several national and international awards, Mr. Noble was the youngest recipient of one of Canada's 2014 Clean50 Awards, and was also named one of Canada's Top 20 under 20. To date, Mr. Noble is the highest awarded youth scientist in Canadian history.
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On March 30, 2017, Noblegen unveiled its new Gen 1 production facility, the largest commercial manufacturing facility of its kind in North America, intended to meet the growing demand for sustainable bioproducts.
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FedDev Ontario's repayable contribution of up to $600,000 will leverage an additional $1.2 million from an accredited member of the Peterborough Region Angel Network.
Associated Links
Contacts
Media Relations
FedDev Ontario
416-954-6652
fdo.mediarel-relmedias.fdo@canada.ca
Toll Free: 1-866-593-5505
Website: www.FedDevOntario.gc.ca
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