Phenometrics Inc., of Lansing, a spin-off company from Michigan State University, was one of four companies awarded funding through the Michigan Mircroloan Fund Program in August.
Phenometrics, co-founded by David Kramer, MSU Hannah Distinguished Professor of Biochemistry and Molecular Biology, develops, manufactures and sells measurement tools for the algae and plant science industries. The company's signature product is an environmental photo bioreactor that reproduces outdoor pond environments in the lab so scientists can study algae in natural conditions.
Kramer is internationally recognized for his work on photosynthesis and is the author of more than 135 scientific papers published in science journals around the world.
Phenometrics is using the funding to scale up production as well as hire a technical engineer.
Since the Michigan Microloan Fund Program was established in July 2009, 60 companies have received more than $2.5 million in subordinated loans. To qualify, companies must be a small business, have ownership or license to innovative technology, and be privately held.
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