Supports Revolutionary Microalgae Production Technology
FOR IMMEDIATE RELEASE
Chantilly, VA: TrueAlgae (operating name of GreenTech Ventures, Inc.) is excited to announce the investment of Alliance Forum Foundation (AFF) to further the reach of its revolutionary microalgae production system. The funds will enable TrueAlgae to grow its sales and marketing efforts, increase its research into new business verticals, and connect with potential customers and partners globally.
AFF was founded by George Hara, a successful global entrepreneur and also the founder and Group Chairman of DEFTA Partners Group, a leading venture capital firm. DEFTA will also support TrueAlgae to expand its business globally and promote its innovative algae production technology. Since 1984, DEFTA has identified, nurtured, and founded companies with innovative technologies.
“We are very excited to have the Alliance Forum Foundation as our investor and to work with DEFTA to expand our business globally”, said Nathaniel Jackson, CEO of TrueAlgae. “AFF and DEFTA have supported countless startup companies and entrepreneurs, who are not only innovative, but also have clear vision for our society and understanding of social, environmental and economic impacts, like TrueAlgae, for the past 30 years. We are looking forward to working with both institutions to expand our global footprint.”
TrueAlgae is an algae biotechnology company with an innovative, scalable algae production system. TrueAlgae’s patent-pending production technology brings a closed-loop, contaminant free capability to quickly produce large quantities of valuable high-quality algae. Currently it is providing algae products for use in agriculture to rejuvenate the earth’s depleted soil organically, thus improving crop yields, farmer’s profits and the environment. TrueAlgae will use the funds to continue to build its sales and marketing efforts to bring the multi-faceted benefits of natural, regenerative, sustainable microalgae to multiple markets.
AFF has promoted the cultivation of new industries for a new era and to foster global leadership around the development of a next-generation core industry. The central tenet of its vision is that new technologies have the power to change the world. It has a successful track record of supporting private companies to develop new markets as it provides comprehensive support from market research to business development including identification of business partners.
”I am highly impressed by the triple play value of the technology of TrueAlgae. It not only increases the economic return to farmers and direct users, but also is healthy and environmentally-friendly for our Mother Nature and consumers. In fact, this technology can efficiently rejuvenate our nature and improve the healthy life of sentient beings on this earth”, said George Hara, Chairman of the Board, Alliance Forum Foundation and Group Chairman, DEFTA Partners Group.
TrueAlgaeTM, the operating name of GreenTech Ventures, Inc., is a US based biotechnology company with global reach. The revolutionary closed-loop, proprietary algae production technology allows delivery of high-quality microalgae for a multitude of uses including agriculture, aquaculture, human and animal nutrition as well as personal care products.
About Alliance Forum Foundation
The Alliance Forum Foundation is a 501(c)3 organization in a Special Consultative Status with the UN ECOSOC that conducts many initiatives in the areas of anti-malnutrition, microfinance, new industry creation, and Public Interest Capitalism. The Alliance Forum Development Programme (AFDP) is its international development division focused on reducing poverty and improving the quality of life in developing countries through initiatives that combat malnutrition, bolster education and health care with advanced technology, and educate a global cadre of professionals in microfinance.
About DEFTA Partners
DEFTA Partners was founded by George Hara in 1984 as a venture capital firm focusing on innovative technology. DEFTA primarily makes seed and first round investments in early stage information technology and life science companies with global opportunities to accelerate growth. DEFTA has offices and partners in the United States, Japan, and Hong Kong.
About George Hara
George Hara is the Chairman of the Board, Alliance Forum Foundation and Group Chairman, DEFTA Partners Group. George also serves as Special Advisor to the Cabinet Office of the Prime Minister of Japan, Global Agenda and Meta Council Member of the World Economic Forum. George’s public service record includes board of director positions of San Francisco University, Zoo, and Opera where he helped revitalize these organizations. He also advises heads of state, governments, and international organizations.
George founded DEFTA Partners in 1984 and became a Partner at Accel Partners in 1990. He was considered one of the most prominent Silicon Valley venture capitalists in ICT in the 1990s and has led more than twenty companies – including Borland, PictureTel, SCO, Tradex, and Unify – to success. Since 2000, Mr. Hara has served as chairman of the board or helped to manage a number of U.S., Israeli, and UK companies including Microcosm Commutations (Merged with Conexant in 2000), CyberGold (Merged with MyPoints.com in 2000), Accelerated Networks (NASDAC IPO in 2000) , Riptech (Merged with Symantec in 2002) Oplus Technologies (Merged with Intel in 2005), Virtual Ink (Merged with Newell Rubbermaid), Broadware (merged with Cisco in 2007), Transitive Tech (merged with IBM in 2008), and Fortinet (NASDAQ IPO in 2009).