TrueAlgae™ Receives New Investment From Seth Goldman, Julie Farkas and ImpactAssets

Jun 15 2021


Chantilly, VA: GreenTech Ventures, Inc., dba TrueAlgae, is delighted to announce the investment of Seth Goldman and his wife Julie Farkas and ImpactAssets. Goldman is a co-founder of Honest Tea and Eat The Change and is Chair of the Board of Beyond Meat. ImpactAssets provides a flexible solution for the innovative and creative impact investing that philanthropists, like Goldman, are seeking. The funds will support TrueAlgae’s mission to revitalize our depleted agricultural soils with TrueSolum™, an organic liquid soil amendment produced during the growth of algae.

TrueAlgae produces TrueSolum through its innovative, scalable algae production system. The patented production technology brings a closed-loop, contaminant-free capability to produce large quantities of valuable, high-quality algae quickly. TrueSolum is the resulting product for agriculture. It is a metabolite-rich liquid supplied to farmers to rejuvenate their fragile soil organically, thus improving crop yields, increasing farmers’ profits, and protecting the environment.

“We are thrilled to have Seth Goldman and ImpactAssets as our investors”, said Nathaniel Jackson, CEO of TrueAlgae. “Seth is a legendary serial entrepreneur who has transformed new business concepts into successful companies like Honest Tea, Beyond Meat and, now, Eat the Change™. Seth has repeatedly demonstrated that you can do well by doing good. TrueAlgae shares this core philosophy.”

In 2008, Goldman partnered with Montgomery County Councilman, George Leventhal, to co-found Bethesda Green. Bethesda Green houses a startup incubator and accelerator program. TrueAlgae joined Bethesda Green in 2019 as the first member of its Amplifier Program for growth stage startups.

“We are excited to support Nathaniel and the TrueAlgae team on their mission to make organic agriculture scalable,” stated Goldman. “We are especially happy to support an enterprise that emerged out of the Bethesda Green amplifier program.”

About TrueAlgae
TrueAlgae, 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. Future applications could include aquaculture, human and animal nutrition, as well as personal care products.

About Seth Goldman
Seth Goldman is the former TeaEO of Honest Tea which he co-founded in 1998 with his former business professor, Barry Nalebuff. Goldman also assumed the role of the executive chairman and, now is Chair of the board, of Beyond Meat, a plant-based protein company. Goldman is the co-founder of PLNT Burger and Eat the Change ™, a brand that empowers consumers to make dietary choices aligned with their concerns around climate and health.

About ImpactAssets
ImpactAssets is a nonprofit financial services firm that increases the flow of capital into investments delivering financial, social and environmental returns. ImpactAssets’ $1.5 billion Donor Advised Fund and field-building initiatives enable philanthropists, other asset owners and their wealth advisors to advance social or environmental change through impact investment and philanthropy.

About Bethesda Green
Bethesda Green is a 501(c)3 nonprofit in Bethesda, Maryland, that works to address environmental challenges locally by creating a sustainable, green community, built collaboratively through citizen engagement, environmental education, government partnership and innovative business development. Bethesda Green’s Innovation Lab is the leading entrepreneurship program in the Mid-Atlantic region that supports leaders who are building for-profit business models around innovative and sustainable solutions to tackle environmental and social challenges, from idea stage through Seed and Series A.