Company Partners With Veterans Group

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An Indianapolis-based biotech company is taking steps to create more jobs for veterans. Algaeon Inc. says Save Our Veterans will build equipment as part of plans to expand production capacity. The company specializes in algae-based technology to supply nutraceutical and animal/fish feed companies. January 24, 2014

News Release

(Indianapolis, Ind.) - Algaeon, Inc., located in Indianapolis, is significantly expanding their production capacity to deliver high-value nutritional ingredients derived from specific algae species.

Algaeon has chosen to partner with Save Our Veterans (SOV) to provide employment opportunities for veterans. In their recently signed contract SOV will build 880 of Algaeon's patented PhotoBioreactors in the first half of 2014. It is anticipated that follow-on orders will come as Algaeon is seeing strong demand for its' products in the human nutrient as well as animal and fish feedstock markets. Additional demand comes from the usage of one of their products as a replacement for the prophylactic use of antibiotics in the animal market (a practice frowned on by the FDA and prohibited in the European Union).

"We have worked closely with the SOV team to provide an excellent documentation package; training and tooling; and quality control measures.” stated David Spoelstra, Director of Engineering at Algaeon. “We are very confident the SOV team will get the job done to the high standards specified."

Victor Wakley, President of Save Our Veterans, is extremely pleased with having been awarded this contract as it provides a real model for his organization to penetrate the private sector's sourcing needs. Victor stated that, "When we were first approached I was tentative as to whether we could compete but with solid support from the Algaeon team and our motivated veterans, we found that indeed we could meet the challenge. SOV is hopeful this will be the first of many private industry job opportunities they we can win and deliver on.”

Algaeon Inc., an Indianapolis biotech company, is manufacturing high value algae-based products for leading Nutraceutical and Animal / Fish Feed companies using its patented cultivation technology. Algaeon is building its own cultivation capacity, as well as, potentially licensing the technology for algae farms. For more information about Algaeon visit www.algaeon-inc.com.

Save Our Veterans, Inc. is a 501 (c) 3 non-profit organization headquartered in Indianapolis, Indiana. Save Our Veterans provides skills training, educational opportunities, and paths to employment and housing. Save Our Veterans has proudly SERVED hundreds of Veterans throughout the United States.Source: Algaeon Inc.