Heliae, a Gilbert, Ariz.-based company that has developed a platform technology that produces products from algae, raised $28.4m in funding.
Backers included members of the Mars family and the ASEAN-based global conglomerate Salim Group, through one of its subsidiaries, Agri Investments Pte Ltd, as well as new investor Mr. Thomas J. Edelman.
The company intends to use the funds to support the operation and expansion of its first commercial facility in Gilbert, Ariz, which will be operational in September of 2013.
Led by President and CEO Dan Simon, Heliae has developed a platform technology that uses sunlight and low-cost carbon feedstocks to produce products from algae focusing on four target markets: nutrition, therapeutics, health & beauty and agrosciences.
FinSMEs
09/07/2013