FOR IMMEDIATE RELEASE
Chantilly, VA: TrueAlgae (the operating name of GreenTech Ventures, Inc.) is pleased to announce AMTA VENTURES LLC’s investment in the company. This funding will help broaden the data supporting the value of TrueSolum™, an algae-based soil amendment, for raising crop yields and quality, as well as promotion of these benefits to farmers. The relationship will also allow for expansion into global markets through AMTA’s extensive network in Asia.
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 produce large quantities of valuable, high-quality algae quickly. The company is currently providing algae products for agriculture to rejuvenate the earth’s depleted soil organically, thus improving crop yields, increasing farmers’ profits, and protecting the environment.
AMTA VENTURES LLC is an investor group led by Alfredo “Fred” Pascual, the former president of the University of the Philippines and now the lead independent director of SM Investments Corporation, one of the largest conglomerates in the Philippines. Fred also promotes good corporate governance in the country as a Fellow and former President and CEO of the Institute of Corporate Directors. Earlier on, he had a successful career at Asian Development Bank spanning two decades.
“We are excited to welcome AMTA VENTURES LLC as our investor and to work together to introduce our technology and our product in the Philippines. Our 100% organic soil amendment, TrueSolum, has proven to increase microbial diversity and organic matter in the soil leading to improved crop output”, said Nathaniel Jackson, CEO of TrueAlgae. “Fred is such a respected professional in the Philippines and beyond. We look forward to expanding TrueAlgae’s business throughout Asia with Fred and the other accomplished professionals in the investment group.” Fred Pascual said, “Our group believes in the value TrueSolum can generate for users, and we will be happy to cooperate with TrueAlgae in bringing the benefits of this algae-based soil amendment to our part of the world.”
TrueAlgaeTM, the operating name of GreenTech Ventures, Inc., is a US-based biotechnology company with a global reach. The revolutionary closed-loop, proprietary algae production technology allows the delivery of high-quality microalgae for a multitude of uses, including agriculture, aquaculture, human and animal nutrition, as well as personal care products.
About AMTA VENTURES, LLC
AMTA VENTURES, LLC is a Delaware company formed to invest in emerging technologies.