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Algal Scientific Sees Series B Venture Capital

Wednesday, April 1, 2015 5:32:00 AM PDT | VentureDeal
   Northville, Michigan  --  Clean technology company Algal Scientific has received $7 million in its second round of institutional venture capital financing.

Algal has developed proprietary technology to provide advanced treatment for municipal and industrial wastewater.

The system also produces high amounts of algal biomass as a byproduct of the process, which also may be used for biofuels.

Formation 8 led the round, which also included Evoniq Venture Capital and Independence Equity.

The company said it would use the funding to address the global overuse of antibiotics used in the food supply.

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