Noblegen secures $25 mln in Series B deal, JRSL and BDC lead

Noblegen, a Peterborough, Ontario-based advanced ingredients maker, has raised $25 million in a Series B financing, bringing total funding to $42.5 million. The round was led by Richardson Ventures, an affiliate of Canadian holding company James Richardson & Sons Ltd (JRSL), and the clean technology practice of Business Development Bank of Canada (BDC). Noblegen, founded in 2013 by CEO Adam Noble and Andressa Lacerda, makes proteins, carbohydrates and oils from the microorganism Euglena gracilis. Its technology enables production with minimal water and land use as well as a reduced carbon footprint. Noblegen will use the funds raised to scale production capabilities and bring its ingredients to market.

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