Helsinki, Finland. January 28, 2013. - Ductor Corp., a Finnish biotechnology company today announced that is has received € 1.095 million from TEKES (the Finnish Funding Agency for Technology and Research) for research and development into biological production of ammonia and phosphates. This brings the total funding raised by Ductor to date to € 3.7 million, with the earlier funding rounds underwritten by company founders and private equity investor Lifeline Ventures.
Ductor is developing the world's first industrial scale ammonia and phosphate production technology based on a 100% biological process utilizing a vast variety of organic waste streams, such Meat and Bone Meal (MBM), biofuel production by-products and and food waste. Ductor technology has the potential to revolutionize food production by biologically creating ammonia and phosphates, key ingredients in fertilizers and sources of important nutrients enabling cultivation of all plants.
"This latest funding round allows us to complete our technology development, and establish the business connections and contracts required for global commercialization and industrial production", said Heikki Mönkkönen, Chief Financial Officer of Ductor.
Ari Ketola,CEO and Co-founder of Ductor, adds: "The nutrients produced by our proprietary bioprocess are also excellent for algae oil production. Nutrients have been one of the key problems in commercially viable algae oil production. By providing the ideal nutrients for algae in form of ammonia and orthophosphates in optimum quantities and amounts, we can make algae green crude production profitable for the first time!
For more details, please contact Jukka Ropponen, COO by email jukka.ropponen(at)doctor.com or by mobile +358 400 423910
Ductor Corp. is a Finnish biotechnology company with a unique portfolio of proprietary and patented technology for biologically producing ammonia and phosphates from recycled materials and a process that makes production of green crude oil from algae commercially viable. Licensed manufacturers can use the Ductor technology to produce green crude for the biofuel industry, and organic fertilizers that are equal in strength to chemical fertilizers yet more environmentally sustainable. www.ductor.com
TEKES, The Finnish Funding Agency for Technology and Innovation, is the main government financing organization for research and technological developments in Finland. Tekes finances industrial R & D projects, as well as projects in universities and research institutes. www.tekes.fi