NovoNutrients signed a technology development agreement under with global energy company, Woodside Energy, which would contribute up to USD 3 million to NovoNutrients, subject to the completion of certain milestones by NovoNutrients.
NovoNutrients’ technology converts industrial CO2 emissions into high-quality protein, with the potential to abate greenhouse gas emissions and contribute to the world’s food and feed supply. The collaboration with NovoNutrients is aligned with Woodside’s view of carbon capture and utilization (CCU) as an emerging field offering alternative lower-carbon solutions.
NovoNutrients’ technology has been operating at a lab scale. This agreement supports the construction and operation of a larger pilot-scale system. The pilot-scale system will seek to both advance the design of commercial-scale plants and deliver increased sample product volume for further validation by NovoNutrients’ strategic partners, including Woodside.
“Our agreement with Woodside means, together, we can deliver meaningful carbon benefits sooner, while also tackling the world’s need for protein,” said David Tze, CEO of NovoNutrients.
The company recently unveiled carotenoid SCPs that will be the first addition to the new Novoceuticals line, a feed additives line of products.
