Purdue Startup Lands More Funding
A Purdue University-affiliated startup has received its second financial award in two weeks. West Lafayette-based Gen3Bio Inc. has received a $20,000 pilot plant grant from The Water Council in Milwaukee, Wisconsin.
Gen3Bio was awarded $20,000 in April through the Elevate Nexus Regional Pre-Seed competition. The startup says the funding will allow it to scale its pilot program in preparation for full commercialization.
The startup’s technology turns municipal wastewater algae into specialty chemicals, and converts environmentally-hazardous waste algae into profitable environmentally-friendly products such as aquaculture fish food, succinic acid and biodegradable plastics.
“There is a way to repurpose this algae from costly waste to beneficial material. Our patented enzyme technology breaks open the algae and extracts the nutrients required to create specialty chemicals that create useful and environmentally beneficial products,” said Kelvin Okamoto, founder and chief executive officer of Gen3Bio.
Gen3Bio says the funding will allow it to demonstrate its process on-site at a Wisconsin wastewater treatment facility using its 15-gallon mobile pilot plant.
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