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Materials Science Company Equispheres Secures $30 Million Investment Round

Materials Science Company Equispheres Secures $30 Million Investment Round

INDIANAPOLIS – April 22, 2020 – OTTAWA, Ontario–(BUSINESS WIRE)–Equispheres, a materials science innovator based in Ottawa, Canada, today announced they have raised Series B investment and a new round of funding totaling $30 Million (CDN), at an undisclosed valuation. This round of funding was led by advanced materials and sustainable technology investor, HG Ventures, with participation from Sustainable Development Technology Canada (SDTC), BDC, Canada’s bank for entrepreneurs, and other undisclosed contributors.

 

 

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HG Ventures Invests $1.35 Million Investment in Wildnote

HG Ventures Invests $1.35 Million Investment in Wildnote

INDIANAPOLIS – Feb 10, 2020 – HG Ventures, the corporate venture arm of the Heritage Group, today announced a $1.35 million seed round investment in Wildnote, an environmental compliance management solution. HG Ventures invested alongside Entrada Ventures, a Santa Barbara-based venture capital fund. Wildnote is a graduate of the inaugural 2019 cohort of The Heritage Group Accelerator Powered by Techstars®, a thirteen-week program for mentoring and developing early-stage companies in “legacy industries” such as advanced materials, infrastructure, and environmental services.

Wildnote operates a software-as-a-service platform that allows users to document compliance with environmental regulations through surveys, photos, and location tracking to generate agency-ready consolidated reports. Wildnote brings complicated paper reporting into the 21st century, saving time and money. The company’s leadership team is comprised of longtime entrepreneurial software professionals, business developers, and community leaders with deep experience in environmental compliance.

“After getting to know The Heritage Group and HG Ventures through the Techstars® Accelerator program we were honored and grateful that HGV led our seed round investment,” said Kristen Hazard, co-founder and CEO of Wildnote. “We now have the resources to scale this company to ever increasing value for our customers, investors, and employees, while achieving our mission of protecting our natural resources by delivering the best platform to collect, manage, and report on environmental compliance.”

“Wildnote is changing the future of corporate environmental accountability by removing roadblocks for compliance,” said Kip Frey, Managing Director of HG Ventures and Executive VP of New Ventures at the Heritage Group. “Wildnote reflects the quality of companies that graduate from Techstars® programs. We are proud to support Kristen and her team with this investment and beyond.”

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About Wildnote

The Wildnote mission is to protect natural resources, and support business by delivering a platform to collect, manage, and report on environmental compliance data. Wildnote is a highly customizable cloud-based system for iOS, Android, and web that streamlines the process of environmental compliance so you can work smarter, not harder. The Wildnote team is passionate about nature, and we stand in awe of those who spend their time studying, protecting, and restoring it. We believe everyone deserves to enjoy a thriving healthy planet, so we work to build the best data collection tool in existence for environmental professionals.

About HG Ventures

HG Ventures is the corporate venture arm of The Heritage Group.  HG Ventures supports innovation and growth across The Heritage Group by investing and partnering with private companies developing new technologies and approaches in both our core and adjacent markets. We leverage the world class expertise of The Heritage Group operating companies and research center to offer a unique value proposition to our portfolio company partners.

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Media Contact

Ashlyn Myers

The Heritage Group and HG Ventures

abmyers@thgrp.com

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Inside Indiana Business – HG Ventures Invests in 120WaterAudit

Inside Indiana Business – HG Ventures Invests in 120WaterAudit

Inside Indiana Business – HG Ventures Invests in 120WaterAudit

Indianapolis, January 28, 2020 – Inside Indiana Business concludes their look inside Indianapolis-based The Heritage Group, a multi-generational Indiana success story spanning nine decades. Today, The Heritage Group is made up of more than 30 operating companies and 5,000 employees, doing business around the globe. In part three of our series, we look at another example of the company’s commitment to innovation with Kip Frey, Managing Partner, HG Ventures and EVP, The Heritage Group & Megan Glover, CEO, 120WaterAudit.

 

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P2 Science Raises $12 Million in Series C Financing

P2 Science Raises $12 Million in Series C Financing

P2 Science Raises $12 Million in Series C Financing

Woodbridge, Conn. – January 28, 2020 – P2 Science Inc., a renewable chemistry company, today announced the close of a $12 million Series C financing round. Lead investor HG Ventures and Chanel join existing investors Xeraya Capital, BASF Venture Capital, Elm Street Ventures, Connecticut Innovations and Ironwood Capital Connecticut.

 

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HG Ventures Invests in Water Program Management Software Platform

HG Ventures Invests in Water Program Management Software Platform

120WaterAudit’s main focus is to help government agencies, public water systems, and schools manage their drinking water programs.

Indianapolis, IN – September 17, 2019: HG Ventures, the corporate venture arm of The Heritage Group, led a $7 million series A funding round for 120WaterAudit, a leading cloud based water management program.  120WaterAudit’s main focus is to help government agencies, public water systems, and schools manage their drinking water programs.

 

For more information, please see:

https://www.businesswire.com/news/home/20190917005070/en/Digital-Water-Company-120WaterAudit-Secures-7M-Series

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The Heritage Group Announces First Class of Startups for Accelerator

The Heritage Group Announces First Class of Startups for Accelerator

10 startups set to reinvent legacy industries — including construction, infrastructure, materials and environmental services — over the next 13 weeks through Indianapolis-based accelerator

Indianapolis, IN – September 9, 2019: Today, The Heritage Group (THG) and Techstars launched The Heritage Group Accelerator Powered by Techstars, a mentorship-driven accelerator which will scale 10 startups that aim to reinvent industries that serve our most basic needs. The accelerator is taking place at The Center, THG’s purpose-built incubation, problem solving and collaboration facility in Indianapolis that is also home to HG Ventures, THG’s venture capital arm, and Heritage Research Group, THG’s central research and development laboratory.

The 10 companies represent a diverse array of technologies, spanning advanced materials, construction, infrastructure, sensors, and environmental services. Across the class, the companies share a mission of tackling some of society’s biggest challenges by innovating in traditional industries. Hailing from Indiana, four other US states, Canada, Estonia and Germany, the founders will meet in Indianapolis for the next 13 weeks.

Participants include:

Alkemy Environmental – Recycles waste materials into structural-grade concrete aggregate
AquaRealTime – Operates robust IoT systems to monitor water quality
Ateois – Manufactures truly flexible and ultra-thin printed batteries
E.O.I Technologies – Produces an innovative laser-based vibration sensor
Gelatex – Manufactures a non-toxic leather-like textile from organic substances
Magment – Builds magnetic concrete for dynamic wireless charging of electric vehicles
Mito Materials – Manufactures nano-additives for improving composite materials
Recycled Granite – Recycles granite waste materials into new products
Wildnote – Produces a digital platform for environmental compliance and management
Zilper Trenchless – Manufactures equipment to quickly and cheaply replace underground pipes

The Accelerator at The Center

“Each of the startups was selected on the quality of their teams, the strength of what they have built to date, and their fit for leveraging THG’s experience and operations,” says Jonathan Schalliol, Director, New Ventures Group at THG. “Experts from our core businesses and research group are looking forward to working with the startups on a diverse set of topics, such as recycling, infrastructure construction, new chemical formulations, and environmental management.”

The Heritage Group Accelerator Powered by Techstars will run through December 4th, when the program will culminate in a Demo Day event. During Demo Day, the companies will present to an audience of venture capitalists, corporate leaders, industry experts and the Indianapolis entrepreneurial ecosystem to raise additional capital and make meaningful business connections. To learn more about The Heritage Group Accelerator Powered by Techstars, or connect with the startups, please visit techstars.com/heritage-group-program.

About The Heritage Group

The Heritage Group is a privately held portfolio of companies focused on creating long-term value by building world-class businesses. Since 1930, it has managed a diverse set of business units involved in construction and materials, environmental services, specialty chemicals, and energy and refining. With operations in North America, Europe and Asia, and a client network that spans the globe, The Heritage Group’s focus is on innovation, quality and service. At the core of this focus is the Heritage Research Group, the world-class research and development facility operating at the cutting edge of new technology to provide new products, processes and training aimed at improving the way The Heritage Group companies serve their clients. Learn more at www.thgrp.com.

About Techstars Techstars is the worldwide network that helps entrepreneurs succeed. Techstars founders connect with other entrepreneurs, experts, mentors, alumni, investors, community leaders, and corporations to grow their companies. Techstars operates three divisions: Techstars Startup Programs, Techstars Mentorship-Driven Accelerator Programs, and Techstars Corporate Innovation Partnerships. Techstars accelerator portfolio includes more than 1,900 companies with a market cap of $23 Billion. Learn more at www.techstars.com.

 

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HG Ventures Makes $4 Million Investment in Romeo Systems

HG Ventures Makes $4 Million Investment in Romeo Systems

Investment will be used to scale production and enable industry partnerships.

INDIANAPOLIS, IN – August 2, 2019 – HG Ventures today announced its investment in Romeo Power Technology, an industry leader in sustainable power systems for electric vehicles (EV). Romeo has developed a proprietary, multi-faceted suite of energy storage technologies for lithium-ion battery development, packaging and deployment. Romeo’s products are disrupting the global sustainable energy storage market and extending the capabilities of EVs, while improving the overall safety and reliability profiles of lithium-ion batteries.

 

Romeo was founded in 2015 by a group of engineers from SpaceX, Tesla, and Samsung on a mission to advance energy technology. Romeo’s power management innovations have enabled multiple joint development agreements with manufacturing partners from around the world, including a joint venture with BorgWarner for hybrid and electric vehicle propulsion funded from proceeds of this round.

 

“We are excited to partner with HG Ventures as we gear up to bring Romeo’s game-changing technologies to the market,” said Michael Patterson, Co-founder and CEO of Romeo.  “HG Ventures brings a level of technical sophistication and materials science expertise that is uncommon in the venture world. We look forward to deepening our relationship with both its investment professionals and its technical experts.”

 

“Romeo has become an industry-leading battery module and pack supplier, and we look forward to helping the company accelerate its growth,” said John Glushik, Managing Partner of HG Ventures and VP of HG Ventures’ parent company, The Heritage Group.  “The investment in Romeo exemplifies HG Ventures’ commitment to investing in emerging companies commercializing advanced material technologies.”

 

About Romeo Power Technology

Romeo‘s mission is to advance technology to help end energy poverty. The company builds “tighter and lighter” battery packs for electric vehicles and stationary energy storage that perform better and last longer thanks to industry-leading energy density and battery management. Learn more at romeopower.com.

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Biosynthetic Technologies: A Note From Kip

Biosynthetic Technologies: A Note From Kip

Mark Miller joins The Heritage Group as Biosynthetic Technologie’s CEO.

On behalf of the New Ventures Group, I’m pleased to announce progress on our second strategic investment: Biosynthetic Technologies.

 

Biosynthetic Technologies (BT) is a start-up focused on creating a sustainable future through the development of a technology platform focused on high performance synthetic base stocks derived from renewable resources.  The manufactured products serve as a base stock for the lubricant and specialty chemical industries in the industrial, marine, and automotive markets.  BT will be a great addition to our portfolio and benefits from THG’s experience in the refining and specialty chemical space.

 

I’m excited to announce that Mark Miller is joining THG as BT’s CEO. Mark is a serial entrepreneur with a special emphasis on bio and sustainable technologies.  He co-founded and was CEO of Terresolve Technologies, Ltd. an environmentally safe chemical products company. He led the organization from start-up until his exit, creating a multimillion dollar, highly profitable, global industry leader. Mark also sits on the Board for The National Foundation For Animal Rescue (NAFFAR) and he and his wife Shari have adopted more than their share of homeless critters.  The entire BT team, including Matt Kriech and Bruce Marley, will report directly to Mark.

 

The BT funding should close mid-January. I want to take a moment to thank everyone who made this possible including Julie Austin, Matt Kriech, David Rosen, Tony Kriech, and Jon Schalliol, and the entire BT team.

 

Please join me in welcoming Mark to The Heritage Group.

 

Very best,

 

Kip

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CustoMem Changes Name To Puraffinity And Announces Successful Fundraise To Accelerate Its Growth

CustoMem Changes Name To Puraffinity And Announces Successful Fundraise To Accelerate Its Growth

NEWS – Aug 07, 2019 – Puraffinity, a spin-out from Imperial College London, that develops advanced materials for selectively removing target chemical compounds from water, has announced an oversubscribed seed round of $3.55M (£2.8M) from leading sustainability investors.

 

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Biosynthetic Technologies Announces Additional Team Members

Biosynthetic Technologies Announces Additional Team Members

Biosynthetic Technologies has added three great additions to the R&D team.

Alex Kitchel has joined the Research and Development team.  Alex brings to the team strong lab experience and a passion for the environment and sustainability.  He will be helping the R&D team create new products, optimize manufacturing processes, and provide logistics and administrative support.

“When I first joined BT, it was incredibly clear how passionate the entire company is in working to create a better, cleaner, and greener world.  I am excited to work here and be part of such an amazing group of people.  I am hoping that my biology and environmental science background will be able to provide unique observations and new ideas for BT, further helping our team grow in many areas,” said Kitchel.

Alex is an avid environmentalist, and his experience in the field and in the lab will provide many useful insights to the company.  Previously, he graduated from Hanover College in 2018, where he developed studies on aquatic ecology, specifically looking at the impacts of plastics, oils, and coral bleaching on coral reefs.  In his free time, Alex enjoys playing and watching all sports, scuba diving, and reading.

Alex brings a fresh perspective and new innovative voice to BT as it takes its high-performance base fluids to market.

BT has also welcomed Dr. Marlon Lutz to the R&D team. Dr. Lutz brings 17 years of chemistry experience with him which includes six years of his career dedicated to Estolide synthesis and product development. He will be responsible for researching and helping commercialize a new line of biobased products using Estolide technology.

“I am thrilled to be part of the Biosynthetic Technologies core team and I am exceptionally excited to have the role of developing processes for the BT platform that will ultimately provide more sustainable solutions to our customers.” said Lutz.

Previously, Dr. Lutz graduated from Loyola University, Chicago in organic chemistry with the emphasis in synthetic methodology and medicinal and supramolecular chemistry. In addition, Marlon spent nearly 12 years in the pharma sector as a process development chemist at Regis Technologies located in the Chicago area where he developed novel synthetic routes, optimized chemical processes, and translated this information to develop safe, scalable, and robust processes under cGMP regulations.

“We are super excited to have Dr. Lutz joining the team.  He has a wealth of chemical experience and a strong background in Estolide chemistry, which will allow us to quickly grow our portfolio of products to offer the marketplace” – Matthew Kriech Chief Operating Office Biosynthetic Technologies

Biosynthetic Technologies also welcomes Annie Hynes to its R&D team.  Annie brings strong chemistry lab experience and a deep desire to improve the world. She will be helping the team create new products, optimize manufacturing processes, and provide logistics and administrative support.

“As early as my first day, it was clear that this team is zealous about the work they do and the innovations they deliver. I am honored to be around such great minds and hope to bring a unique perspective to the conversation surrounding a more sustainable future. I am incredibly excited to be joining the BT team” said Hynes.

Previously, Annie graduated from the University of Notre Dame with a B.S. in Chemical & Biomolecular Engineering. She conducted two years of drug discovery research on campus and interned in automation engineering at a biotech company dedicated to rare diseases. Now, while working at BT, Annie is participating the Orr Fellowship which is a two year post graduate program focused on developing the next generation of entrepreneurs and business leaders in Indianapolis.

About Biosynthetic Technologies: 
Biosynthetic Technologies (BT) manufactures a revolutionary new class of biobased synthetic compounds called Estolides that are made from organic fatty acids found in various bio-derived oils. These highly-functional biosynthetic oils have numerous uses in lubricant, automotive, marine, and personal care applications and can be used as the primary base oil of a lubricant formulation, a component of a base oil co-blend, or even as an additive. In addition to their high-performance properties, these renewable oils are biodegradable and nontoxic. BT strives to make their mark on the world by delivering innovations for a sustainable future. For more information about Biosynthetic™ Technologies, please visit www.biosynthetic.com and follow us on LinkedIn and Twitter.