The Peterborough CFDC is pleased to announce that funding has been approved for Noble Purification to expand their operations through the Eastern Ontario Development Program (EODP) over the next two years.
Noble Purification Inc. has invented a Euglena Bio Filtration System to absorb minerals, heavy metals and excessive nutrients (such as phosphorous) from wastewater. This system recreates an algae bloom and harnesses Euglena’s capabilities to create a cleaner, controlled way of removing nutrients or contaminates and avoiding their release back into the environment.
The Peterborough CFDC is pleased to be able to support Noble Purification with an EODP contribution of $100,000 to hire 2 full-time staff and purchase equipment over the next two years. Noble Purification has raised more than $225,000 from private financing to also contribute to this project. EODP funding is contingent on recipients’ contributing a minimum of 50 percent in matching funding.
“We see many inventors in our line of business, not all of them have the ability to commercialize their ideas. The Peterborough CFDC Board of Directors applauds Adam Noble for his dedication. Noble Purification is a company to watch. Their Euglena Bio Filter has the capability of separating the algae by-products, residual organic matter containing nutrients and other metals, which then can be sold, providing a wide range of commercial value.” said Doug Armstrong, Chair of the Peterborough CFDC Board of Directors.
The EODP is managed by the Federal Economic Development Agency for Southern Ontario and is being delivered in partnership with the 15 Community Futures Development Corporations in eastern Ontario, as well as the Eastern Ontario Community Futures Development Corporation Network Inc. The program supports rural eastern Ontario communities to pursue the creation of a competitive and diversified regional economy through investment in economic development, small business growth, job creation and community innovation.
To date, more than $80 million has been invested through the EODP on more than 7,600 business and community development projects. Over the next five years, $48-million is available through the EODP.