Maryland’s TEDCO funds 19 technology start ups including algae crude producer

In Maryland, the state’s Technology Development Corporation (TEDCO) announced today that 19 companies have received over $1.9 million in funding from the organization’s Seed Investment Fund in the last six months. The funding will be used to advance the companies’ technology and product commercialization efforts.

Companies that received investment funding in the last six months include Manta Biofuel, LLC, located in Baltimore, who is engaged in the production of algae based, renewable crude oil that is cost competitive with traditional fossil based crude.