A $200,000 loan guarantee for a firm that produces algae was approved unanimously by the town council Thursday.[and. . .]
Avespa Holdings, LLC is moving into an office in the Jupiter Park of Commerce, south of Indiantown Road and just east of I-95. The algae is used for food for salmon and making Omega 3 for human consumption, said Chief Science Officer Philippe Bois.
The loan guarantee is from the town’s biotech fund, which was established in 2006 to attract science businesses to Jupiter. There is about $1 million in the fund, according to Jupiter records.
Avespa will “enhance wastewater treatment processes that may provide long term cost savings and environmental benefits for the community for years to come,” according to the proposal.