Algaeventure hunts fertile funding sources in VC market

by Jeff Bell

Date: Friday, August 26, 2011, 6:00am EDT

With nearly $2.5 million in state incentives in hand, Algaeventure Systems Inc. is turning its attention to landing private equity funds to finance a $9 million expansion in Marysville.

The company, whose technology is helping establish algae as a biofuel, plans to start making its case to private funding sources in September, said Algaeventure founder and CEO Ross Youngs. With funding, he said, the 3-year-old company will be able to boost its employee count from 35 to more than 200 in three years and play a key role in making algae a viable energy source and key ingredient in animal …

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