According to filings with the U.S. Securities and Exchange Commission, Algenesis is raising $5,000,000.00 in new funding. Sources indicate that as part of senior management Chief Executive Officer, Stephen Mayfield played a key role in securing the recent investment and it will aid in aggressively expanding the company, as well as broaden and accelerate product development.

About Algenesis
Our scientists redesigned plastic materials to harmonize with nature. Our patented Soleic technology is the worlds first high performance, renewable, and fully biodegradable plastic material made from algae. Algenesis was founded in 2016 by three professors from UC San Diego, Dr. Stephen Mayfield, Dr. Micheal Burkart, and Dr. Robert Pomeroy. Together they combined their knowledge and background and worked their way into the polymer market where customers had an unmet sustainability need. Traditional petroleum plastics are responsible for a tidal wave of air, land, and sea pollution that is destroying ecosystems and harming wildlife. Soleic technology was developed to address this global plastic pollution crisis. Our initial product line consists of soft foams for footwear and hard foams for surfboards. We continue to research new applications for Soleic technology. Algenesis is also developing new technologies with exciting product applications across multiple industries.

To learn more about Algenesis, visit http://www.algenesismaterials.com/

Contact:
Stephen Mayfield, Chief Executive Officer
206-734-5474

SOURCE: http://www.intelligence360.io
Copyright (c) 2023 SI360 Inc. All rights reserved.