Anuvia raises $103 million to commercialize its novel fertilizer
Anuvia Plant Nutrients raised US $ 103 million to commercialize its novel fertilizer technology.
The company, backed by investors such as TPG ART, the Pontifax Global Food and Agriculture Technology Fund, Generate Capital and Piva Capital, is now ready to roll out its technology, which is already in use on around 1200 farms and is expected to cover 20 million acres is arable land until 2025.
Anuvia is now run by longtime agricultural director Amy Yoder, who represents the sixth generation of a farming family in Michigan. She uses her technology to complement crops, which can increase productivity by taking in excrement, food waste and agricultural processing waste and converting them into useful fertilizers using a proprietary catalytic process.
By treating the waste with a specific mixture of chemicals, Anuvia technology can control the release of nutrients as plants grow to produce more productive crops and reduce leaching into the soil, protect groundwater and restore carbon in the soil.
Anuvia is one of a growing number of agro-technology companies seeking to increase crop productivity and sequester carbon for additional income from abundant crops and carbon capture and storage. Other startups, including Pivot Bio, Indigo Agriculture, AgBiome, and Agrinos, are developing other plant treatments that can supposedly boost agricultural production.
"Most of what I see would be very free for us," said Yoder. "Because we're putting the carbon back in the soil, because the nutrients are held in different ways. You could use pivot technology and anuvia technology. Those things, if they could piggyback together, could make really nice solutions in the long run. "
Based in Winter Garden, Florida, the company has a manufacturing facility of 1.2 million tons. However, the company wants to add additional capacity and continue to develop new fertilizers to be launched, Yoder said.
Farmers who use the product are seeing yield increases roughly five times their previous production levels, and the product can be used for all main row crops, according to Yoder.
This claim was confirmed by Environmental Resources Management (ERM), a world leader in environmental consultancy, when compared to conventional fertilizers for corn, rice and cotton.
By treating Anuvia, the greenhouse gases in production can be reduced by up to 32% compared to commercial fertilizers. Anuvia estimates that its products could deliver emissions reductions equivalent to 30,000 cars removed from roads. If the company can get farmers to apply its treatment to the 90 million acres of corn in the US. This would reduce emissions from 1.8 million cars, according to a statement.
"With the world population expected to reach 10 billion by 2050, we need technology-based agriculture on a large scale to meet this growing demand," says Dr. Geoff Duyk, founder and managing partner of Circularis and Anuvia Board Member. "Anuvia's technology will help farms keep the world fed while driving the circular economy, increasing sustainability and improving resource efficiency."
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