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- NovoNutrients Secures $18M in Series A Funding to Transform CO₂ into Protein
NovoNutrients Secures $18M in Series A Funding to Transform CO₂ into Protein
Slice of Agriculture Team
July 19, 2024
Key Highlights:
NovoNutrients raises $18M in Series A financing led by Woodside Energy and CM Venture Capital.
Funding to support industrial pilot program, team growth, and commercial partnerships.
Novotein™ protein ingredient offers nutritional value equivalent to beef, suitable for pet food, aquaculture, and plant-based alternatives.
Source (PR Newswire)
Notable Quotes:
"This investment brings us closer to realizing our vision of a world where industrial emissions are upcycled into essential nutrients for a growing population."
"With this Series A financing, NovoNutrients is well-positioned to accelerate its growth and quickly become a leading supplier of CCU technology that enables sustainable protein ingredients."
Our Take:
NovoNutrients' successful Series A funding round underscores the growing investor confidence in sustainable technologies that address critical global challenges. The company's innovative approach to transforming CO₂ emissions into high-quality protein represents a significant advancement in carbon capture utilization (CCU) technology. By leveraging strategic partnerships and an asset-light business model, NovoNutrients is poised to make substantial contributions to global food security and industrial decarbonization. This milestone not only accelerates their growth but also sets a precedent for future sustainable ventures in the biotech industry.