Manta Biofuel

Transforming Pollution to Power

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Security Type
Min Investment
Offering Date
March 10, 2023
Expected Close Date
July 06, 2023
Target Raise
No. Investors
Security Price
Number of Employees
Short Term Debt
Cost of Goods
Long Term Debt
Net Income

Company Description

Wastewater treatment facilities often exceed EPA pollution limits, which can lead to fines or even jail time. Using our proprietary technology, Manta Biofuel's mobile wastewater treatment system quickly and cost-effectively cleans polluted bodies of water. Pollutants, like algae, can ultimately be converted into renewable carbon neutral fuel. We have demonstrated our patented technology in the field, and we are ready to scale.

Key Deal Facts

Trusted by Top Investors: We’ve raised over $5.2M in public and private investment. This includes over $3 million from the U.S. Department of Energy and the State of Maryland and $2.2M from private investors like Exelon (a Fortune 100 corporation), professional angel investors, and over 4,000 crowdfunding investors.

Experienced Leadership: Our CEO Chris Lindsay has 30+ years of experience in the biotech industry, having held executive roles at both large multinational and startup companies. Our Founder and CTO Ryan Powell holds a PhD in algal biofuels, is the inventor of our core technology, and has nearly 20 years of experience in science and technology.

Strong Market Traction: In 2022 we launched our water treatment service, realized our first revenue, executed multiple successful field trials around the country with prospective customers and lined up more demonstrations for 2023. Funds are needed to scale our commercial operations and capitalize on this momentum.

Management Team / Advisory Board Bios

, Christopher Jared LindsayChief Executive OfficerCapitalizing on his nearly 30 years of experience in the biotech industry, Chris leads Manta’s business operations and strategy. Over his extensive career, he’s held executive roles in both R&D and business leadership functions for start-ups and large multinational companies. Highlights of his career include 20 years with Martek Biosciences (Columbia, Maryland) and 7 years with DSM Nutritional Products (Kaiseraugst, Switzerland). During his tenure with both extremely successful organizations, he was able to bridge his background in R&D and experience in business to translate technology into commercial success. Chris holds a M.S. in Biotechnology from the Johns Hopkins University.
Ryan Joseph PowellCo-Founder, CTO, and DirectorRyan leads Manta’s technical development and brings a unique perspective to the development of algal biofuels. Rare among scientists, he has 15+ years of practical experience in large scale agriculture from working on his family’s 2000 acre grain farm. This pragmatic problem solving mentality is backed by a deep knowledge of the field of algal biofuels which was the focus of his Ph.D. research. Since founding Manta, he has led his team through the successful completion of more than ten peer-reviewed awards that the company has received. Ryan holds a Ph.D. in algal biofuels from the University of Maryland, and is the inventor of the company’s magnetic algae harvesting technology and low cost continuous flow hydrothermal liquefaction system.
Onur UnalDirector, Co-FounderA seasoned entrepreneur with 20 years of biotechnology industry experience, Onur Unal has extensive experience with startups in product and business management capacities. He holds a BS in Genetics from UC Davis, and an M.S. in Pharmacology and an M.B.A. from Penn State University.
Amount Raised : $230,013
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