Calysta raises $39 million investment to fund global expansion plans
Thursday, September 9, 2021
Alternative protein producer Calysta completed a $39 million financing round, led by bp ventures, to support the global scale-up of production of Calysta’s FeedKind® protein, a family of natural, sustainable, and traceable feed ingredients for fish, livestock and pets.
The expansion of the Series D-1 funding round will support scoping and pre-development of the company’s next manufacturing site outside Asia. Calysta is currently working towards the completion of the world’s first commercial FeedKind production facility in China via Calysseo, Calysta’s 50/50 joint venture with Adisseo. It is set to come online in late 2022. It also operates an R&D facility in the UK.
Joining bp ventures in the round were Adisseo, AquaSpark and WTI, as well as Calysta’s other existing investors. “In expanding FeedKind production beyond the current growth strategy in Asia, we are aiming to continue to convert low-cost natural gas resources into high-value, environmentally-friendly protein alternatives,” said Thomas Huot, Calysta’s COO. “Global food and protein supply chains have never been more challenged, thanks to increasing land and water scarcity coupled with an ever-growing global population. FeedKind makes more from less by utilizing the abundant natural gas resources to produce feed for fish, livestock and pets, reducing the pressure on our oceans and arable land for non-animal feed production.”
Calysta’s technology produces a sustainable single-cell protein, which is produced through a proprietary, commercially validated gas fermentation process using naturally occurring, non-GM microbes that use methane as their energy source.
“We look forward to working closely with our strategic partners at bp and Adisseo as we expand our FeedKind production to the world. Calysta will benefit from bp’s operational excellence and focus on delivering sustainable energy. Meanwhile, Adisseo is accelerating commercialization of the product and supporting sales and marketing efforts in Asia,” Huot said.
Meghan Sharp, head of bp ventures, said, “we believe Calysta’s innovation offers an opportunity to deliver sustainable protein for the planet and supports bp’s strategy of creating new markets in which gas can play a material role in delivering a more sustainable future. That’s why in 2019 bp ventures invested in Calysta and its FeedKind technology, and today we are excited to build on that investment with an additional $10 million commitment.”
Calysseo, Calysta’s 50/50 JV with Adisseo, will bring 20,000 tonnes of production capacity online in 2022, with 60,000 tonnes to follow shortly thereafter. There is already significant customer demand for this protein in China. Additional product manufactured outside Asia will support the sustainable growth of the aquaculture sector in key markets by delivering nutritious feed that does not compete with the human food chain.
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