Grenova Secures New Investment; Appoints Life Sciences Veteran to the Board
Grenova, Inc., a Virginia-based innovator in sustainable laboratory technologies, today announced two significant milestones for the company: the appointment of Ted Hull to Grenova's board, and the successful completion of a new round of growth equity capital. These developments support Grenova's strategic vision to drive innovation, expand automation capabilities, and deliver transformative solutions to laboratories worldwide.
Ted Hull brings over 30 years of experience in the life sciences industry, including as a clinical lab CEO for the last 20+ years. In his role at Grenova, Mr. Hull is set to provide strategic leadership and to play a pivotal role in shaping the company's future.
"I am honored to join Grenova at such an exciting time in the company's journey," said Hull. "Grenova is revolutionizing the way laboratories think about and use plastics—transforming single-use mindsets into sustainable, reusable solutions. I look forward to working closely with this talented team to continue driving meaningful change."
The addition to Grenova's team is complemented by a new round of equity capital. The funding will be used to enhance Grenova's automation portfolio, expand R&D capabilities, and grow the team to meet rising demand across global markets. The financing was led by Grenova investors, Peloton Equity and Hamilton Lane's (NASDAQ:HLNE) Impact Fund II, along with other existing investors.
"This investment affirms confidence in our vision and the market's urgency to reduce plastic waste," said Katherine Marrs, CEO of Grenova. "With this capital and Ted Hull on the board, we're positioned to accelerate our mission to scale sustainable lab practices."
"We are excited to continue supporting Grenova's growth," said Ted Lundberg, Peloton Equity Managing Partner and Grenova's Chairman. "We have worked with Ted Hull over the past 20 years and are thrilled to have him join Grenova. Ted brings a powerful blend of vision and experience that will help Grenova press its advantage as a category leader."
Backed by experienced leadership, a unique and patent protected product suite, strong investor confidence, and a clear vision, Grenova is working to revolutionize laboratories worldwide.
About Grenova
Grenova® (grenova.com) is a sustainability company dedicated to revolutionizing the life sciences industry by drastically reducing waste through the washing and reuse of consumable plastics. Grenova empowers laboratories worldwide to adopt eco-friendly solutions that enhance operational efficiency and maximize sustainability impact. The company is committed to providing solutions that lower carbon footprints and reduce waste.
About Peloton Equity
Peloton Equity, LLC (pelotonequity.com) is a private equity firm focused exclusively on growth capital investments in the healthcare industry. Peloton invests in companies with between $10 million and $200 million of revenue that have the management team, market opportunity and business model to become category leaders. Peloton's investment team has invested in over 36 unique healthcare companies and has deployed over $900 million in capital.
About Hamilton Lane
Hamilton Lane (NASDAQ:HLNE) is one of the largest private markets investment firms globally, providing innovative solutions to institutional and private wealth investors around the world. Dedicated exclusively to private markets investing for more than 30 years, the firm currently employs approximately 740 professionals operating in offices throughout North America, Europe, Asia Pacific and the Middle East. Hamilton Lane has $956 billion in assets under management and supervision, composed of nearly $135 billion in discretionary assets and more than $821 billion in non-discretionary assets, as of December 31, 2024. For more information, please visit http://www.hamiltonlane.com or follow Hamilton Lane on LinkedIn.
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Media Contact:
Grenova
Jessica Cookmeyer
Marketing Communications Manager
jcookmeyer@grenova.com
Peloton
Elizabeth Curland
Head of Investor Relations
ir@pelotonequity.com