Algae-based wastewater treatment company closes oversubscribed $6.5M investment

In Iowa, Gross-Wen Technologies, a leading algae-based wastewater treatment company that has a patented wastewater treatment technology that uses algae to clean wastewater, closed its $6.5 million Series A investment round. GWT uses algae instead of bacteria or chemicals to recover nitrogen and phosphorus from wastewater.

ISA Ventures and Iowa Farm Bureau’s Rural Vitality Fund co-led this $6.5 million Series A investment in Gross-Wen Technologies, along with Next Level Ventures, Mid-American Angels, Ankeny Angels, Ag Startup Engine, Oman Ventures, and 1330 Investments.

Gross-Wen’s patented revolving algae biofilm (RAB) treatment system allows both municipalities and industries to retrofit current treatment plants, addressing nutrient management issues in an economical and sustainable way. The company’s byproduct, algae biomass, is packaged and sold as a slow-release algal fertilizer or bioplastic.

Gross-Wen Technologies is poised for continued success as they close this round of funding which was raised on the backbone of recent momentum. Notable recent progress includes (1) Beginning construction at their largest commercial project to date (Slater, IA), taking substantial steps in monetizing carbon sequestration and sustainability, and being selected to participate in the prestigious Silicon Valley based accelerator, Imagine H2O.