Noble Tech Inc. founder Adam Noble announced plans for the company’s growth and evolution, including the construction of an over $20-million, 50,000-square-foot production facility in Peterborough, ON with a goal to become the premier tenant of the new Trent Research and Innovation Park.
“We see algae differently. We want to create a more sustainable future. We are going to change the way the world treats water and we want to do that right here in Peterborough,” Mr. Noble said. “We have an aggressive growth strategy that will help us become the green tech leader in this field. Noble was incubated in the community and we want to build on our foundation in this region while creating jobs and growing the green economy.”
Mr. Noble founded Noble Tech Inc. while still in high school. His research on algae garnered international recognition, including the gold medal at the Intel Science and Engineering Fair in Pittsburgh in May 2012 and a Top 20 Under 20 award from Youth in Motion in June 2014. He established his companies at the Greater Peterborough Innovation Cluster at Trent University, where he has continued his algae research with the support of the university.
Today, Noble Tech Inc. is a next generation bioproducts company with a goal to create a more sustainable future. It researches, cultivates and markets unique microalgae strains and their derivatives for various market applications from wastewater treatment to nutritional products, and eventually, pharmaceuticals.
Noble Tech intends to begin construction on its new Peterborough facility in spring 2017. The new facility will have a capacity to produce more than 10,000 tonnes of algae per year.
“We’ve validated the technology. We’ve proven there is a need for our unique solutions and products. Now we are ready to expand our capacity and refine our process to fill the gaps in the markets,” Mr. Noble said.
“Noble Tech is a wonderful story of youthful innovation nurtured by university faculty and a community that values the entrepreneurial spirit,” said Dr. Leo Groarke, president and vice-chancellor of Trent University. “We are enthusiastic about their plan to become the first tenant of the new Trent Research and Innovation Park. They are focused on environmental technologies; are already engaged with Trent researchers and our world class facilities; and will offer work experience and employment for Trent students and new graduates.”
“Adam Noble and his team at Noble Tech are at the forefront of the evolution and diversification of our regional economy,” Mayor Daryl Bennett said. “We are leveraging the knowledge and talents of the internationally recognized researchers at Trent University and Fleming College, entrepreneurial spirits like Mr. Noble, to spur job creation at this research and innovation hub.”