Algal Scientific Lands $1,250,000 New Financing Round

Feed Type
Link
http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=cae104c6-a9d2-46e3-b8a3-c0a6d55b0d05&Preview=1
Date
1/20/2013
Company Name
Algal Scientific
Mailing Address
46701 Commerce Center Drive Plymouth, MI 48170
Company Description
Algal Scientific’s proprietary technology provides advanced treatment for municipal and industrial wastewater, while producing high amounts of algal biomass that can be used for biofuels. We design, build, and sell treatment systems incorporating factory assembled modules, then operate them for fees based on pollutant reduction. We are focused on producing clean water first, with biofuels as byproducts
Website
http://www.algalscientific.com
Transaction Type
Debt
Transaction Amount
$1,250,000
Transaction Round
Undisclosed
Proceeds Purposes
Proceeds purposes were not disclosed. Includes conversion of previously issued convertible debt. SEC regulatory filing.
M&A Terms
Venture Investor
Undisclosed