News

Grenova to Invest $10.6M to Expand Operations in Richmond

Grenova Inc., a Virginia-based sustainable biotech firm that designs, develops, and manufactures devices that wash and sterilize contaminated pipette tips for reuse, will invest $10.6 million to expand in the City of Richmond. The company will relocate its operations from Manchester to a larger facility in Scott’s Addition and increase capacity with new production lines in response to the shortage of pipette tips used for COVID-19 testing. Governor Northam joined company leaders at the site of Grenova’s future location at 1900 Ellen Road to celebrate the project, which will add 250 new jobs over the next three years.

“We are thrilled to celebrate this homegrown sustainable biotech firm expanding and adding to its workforce in Richmond,” said Governor Northam. “It is remarkable to see Virginia’s innovative life sciences businesses quickly adapt and respond to critical needs as we fight this pandemic. Grenova is an emerging industry leader that has achieved exponential growth in a short time, and I applaud the company for leveraging its technology and expertise to address a global shortage and reduce environmental waste.”

Founded in Richmond in 2014, Grenova’s mission is to help lower costs and reduce biohazard waste by delivering groundbreaking approaches in dealing with plastic consumables. The company’s product, Tipnovus™ enables laboratories to wash and sanitize pipette tips for reuse numerous times, cutting associated consumable costs by up to 96 percent. Ten pipette tips are used to fully conduct one COVID-19 test, resulting in a worldwide shortage of the plastic consumable. Grenova’s technology allows healthcare systems to safely wash and reuse the pipette tips used for testing, which has helped to end pipette tip shortages and improve access to COVID-19 testing while making labs more environmentally friendly. Due to demand for Grenova’s products, the company has quadrupled in size in the last year. Grenova sells products from its Richmond facility to laboratories and distributors across the United States, as well as in Europe and Asia.

“This expansion project is an important win that will create 250 new, high-quality jobs and help improve Richmond’s standing as a life sciences hub,” said Secretary of Commerce and Trade Brian Ball. “Grenova is a great success story for the Commonwealth, and we are confident the region will continue to provide the business climate and workforce needed for years to come.”

“Our growth is a sign that the world is ready to rethink, reimagine, and reinvent the way plastic consumables like pipette tips are washed and reused within the life sciences industry and beyond,” said Ali Safavi, Founder and CEO of Grenova. “We’re proud to make our bold solution possible from our expanded headquarters in Richmond thanks to the Commonwealth’s thriving ecosystem of world-class talent, resources, and infrastructure.”

The Virginia Economic Development Partnership worked with the City of Richmond to secure the project for the Commonwealth. Grenova Inc. is eligible to receive state benefits from the Virginia Enterprise Zone Program, administered by the Virginia Department of Housing and Community Development, and funding and services to support the company’s employee recruitment and training activities will be provided through the Virginia Jobs Investment Program.

Recent News

06/12/2024

Quoin Pharmaceuticals Announces Signing of Research Agreement with University College Cork (UCC), Ireland

Quoin Pharmaceuticals Ltd. (NASDAQ: QNRX) (the “Company” or “Quoin”), a specialty pharmaceutical company focused on rare and orphan diseases, today announced that it has signed a research agreement with The School of Pharmacy at University College Cork, Ireland. The scope of the agreement encompasses the development of novel topical formulations of Rapamycin (sirolimus) as potential

06/11/2024

KeViRx, Inc. Awarded $1.99 Million

KeViRx, Inc., an innovative, early-stage pharmaceutical company, announced today the receipt of $1.99 million in grant funding from the U.S. Department of Defense’s Peer Reviewed Medical Research Program. This grant funding will allow KeViRx to advance its first-in-class small molecule platform technology, KVX-053, toward IND for pulmonary microvascular leakage and inflammation during acute lung injury

05/31/2024

Virginia Catalyst Announces Round 17 of Grant Funding

The Virginia Catalyst, also known as the Virginia Biosciences Health Research Corporation (VBHRC), today announced that it is accepting letters of intent (LOI) for Grant Round 16 to fund the development and commercialization of life science projects that address major unmet needs for improving human health and advance Virginia’s economy. “The mission of the Catalyst