Grenova Announces Growth Recapitalization and New Partnerships To Create More Sustainable Laboratory Solutions for the Life Sciences Industry

Introducing Grenova 3.0! Our growth at Grenova has never been the result of a single individual, but rather the combined efforts of a dedicated team, long-lasting partnerships, and ongoing collaboration in pursuit of a common goal – to make labs sustainable, efficient, and resilient to supply chain disruptions. Today, we’re honored to announce that Grenova will further its efforts toward a sustainable future by partnering with Peloton Equity, along with Hamilton Lane Impact Fund II and Morgan Stanley AIP Private Markets, who have invested growth capital in our green technology company.

“A new exciting era is ahead of us, securing countless improvements and deliveries to take us to the next level as we provide solutions to the life sciences community,” said Ali Safavi, founder and CEO of Grenova. “The management team has made the commitment to execute and grow the company side by side with Peloton to become a stronger, better, and faster company.”

This exciting transaction will enable Grenova to further accelerate our impact, launch additional products, and build out our presence globally. The partnership with Peloton will help Grenova capitalize on the massive and unmet need for sustainability solutions in laboratories around the world. Peloton’s expertise and network will bring additional resources and business development opportunities to Grenova. This growth-oriented transaction will help Grenova accelerate the industry’s adoption of our innovative products and technologies.

“Peloton seeks to partner with high-growth companies like Grenova that deliver tangible and enduring value to the healthcare industry,” said Ted Lundberg, partner and co-founder of Peloton Equity. “The utilization of disposable plastics in the lab setting is rapidly growing and we are excited to support Grenova’s mission to address this unsustainable trend.”

Michael O’Rourke, partner at Peloton, added, “We believe Grenova’s combination of differentiated product technology, sustainability value proposition and high-quality customer service is unique in the massive and growing life sciences tools industry. We are very excited to work with Ali and his team in supporting Grenova’s next phase of growth.”

As a result of the partnership and growth capital, Grenova will grow its award-winning portfolio designed to lower costs in the laboratory industry and reduce biohazard waste in the environment by delivering groundbreaking approaches in dealing with plastic consumables. Grenova’s existing products include the TipNovusTM family of pipette tip-washing solutions for labs such as the Automated TipNovus (ATN) Package, a fully integrated tip-washing solution; the TipLumisTM family of HEPA-filtered, temperature-controlled, UV-sanitized tip storage solutions; GrenoClean, a proprietary and scientifically validated cleaning solution; and Purus by Grenova™, a novel microwell plate cleaner launching in 2022.

For more information about our expanding product line of green technology, visit Grenova.