Latest news with #bioproducts
Yahoo
22-07-2025
- Business
- Yahoo
Provectus Algae Raises $12.6M in Series A Led by At One Ventures and Grant Funding
NOOSAVILLE, Australia, July 22, 2025--(BUSINESS WIRE)--Provectus Algae (Provectus) announced today that it has raised US$10.1M in Series A financing and an additional US$2.5M in grant funding from the Australian government. The round was led by At One Ventures and included Methane Mitigation, Mort & Co, and existing shareholders, such as Hitachi Ventures, among others. Tom Chi, Founding Partner of At One Ventures, will also join the company's Board of Directors. Provectus Algae programs algae to create category-defining bioproducts and sustainable industrial solutions. Through its proprietary Precision Photosynthesis® and artificial intelligence (AI) enabled biomanufacturing technologies, Provectus Algae discovers, develops, and produces algae products at scale, controlling the expression of target compounds for step-changes in productivity and cost of goods. The company's first groundbreaking product off its platform, Surf'N'Turf®, is an algae-based feed supplement for ruminant livestock that contains a seaweed proven to improve rumen digestion and reduce methane generation during enteric fermentation. "Animal agriculture generates more emissions than any other industry, and Provectus Algae's high-yield production offers an economic pathway to substantially solve for these emissions while improving the livelihoods of farmers and ranchers," said Chi. This raise provides Provectus Algae with additional funds to further scale Surf'N'Turf production, perform the world's largest pilot trials for such a product, and supply large quantities of the feed supplement to the market. "As one of Australia's largest lot feeding managers, Mort & Co has a responsibility to lead the way in finding effective methane reduction solutions for the commercial beef industry. The team has been actively involved in testing various feed additives as part of its ongoing commitment to improving sustainability and animal welfare. With the ability to scale production and tailor products for our animals and operations, we have partnered with Provectus Algae to conduct trials of their product designed to reduce methane emissions and increase cattle performance. Achieving increased performance alongside the reduction in methane will provide great opportunity for the industry and we are eager to be a part of this journey," said Charlie Mort, Executive Chairman of Mort & Co. The Series A funds are complemented by support from the Australian Government's Industry Growth Program. The highly competitive "Commercialisation and Growth" grant helps innovative startups and businesses with high growth potential that want to transform, significantly scale up, and build Australian manufacturing capability for the future. "I am incredibly proud of what our team has built despite challenging headwinds in the biotech sector. This milestone is a testament to our team's determination and their desire to deliver lasting advancements in sustainable biomanufacturing," said Nusqe Spanton, Founder and CEO of Provectus Algae. "With Tom Chi coming aboard and Mort & Co's strategic backing, our team has become even stronger as we scale the world's best methane-reducing feed supplement." ABOUT PROVECTUS ALGAE Provectus Algae transforms natural processes into scalable, carbon-negative solutions. Through its proprietary technologies, Provectus Algae has developed an end-to-end platform capable of taking algae-based bioproducts from concept to commercialization. By integrating research, development, and production into a seamless workflow, Provectus Algae enables sustainable biomanufacturing at scale, offering cost-effective and eco-friendly solutions across industries, including agriculture, personal care, and beyond. To learn more, please visit View source version on Contacts Nusqe SpantonFounder & CEOProvectus Algaenusqe@ Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
National Post
22-07-2025
- Business
- National Post
Provectus Algae Raises $12.6M in Series A Led by At One Ventures and Grant Funding
Article content NOOSAVILLE, Australia — Provectus Algae (Provectus) announced today that it has raised US$10.1M in Series A financing and an additional US$2.5M in grant funding from the Australian government. The round was led by At One Ventures and included Methane Mitigation, Mort & Co, and existing shareholders, such as Hitachi Ventures, among others. Tom Chi, Founding Partner of At One Ventures, will also join the company's Board of Directors. Article content Provectus Algae programs algae to create category-defining bioproducts and sustainable industrial solutions. Through its proprietary Precision Photosynthesis® and artificial intelligence (AI) enabled biomanufacturing technologies, Provectus Algae discovers, develops, and produces algae products at scale, controlling the expression of target compounds for step-changes in productivity and cost of goods. Article content The company's first groundbreaking product off its platform, Surf'N'Turf®, is an algae-based feed supplement for ruminant livestock that contains a seaweed proven to improve rumen digestion and reduce methane generation during enteric fermentation. 'Animal agriculture generates more emissions than any other industry, and Provectus Algae's high-yield production offers an economic pathway to substantially solve for these emissions while improving the livelihoods of farmers and ranchers,' said Chi. Article content This raise provides Provectus Algae with additional funds to further scale Surf'N'Turf production, perform the world's largest pilot trials for such a product, and supply large quantities of the feed supplement to the market. Article content 'As one of Australia's largest lot feeding managers, Mort & Co has a responsibility to lead the way in finding effective methane reduction solutions for the commercial beef industry. The team has been actively involved in testing various feed additives as part of its ongoing commitment to improving sustainability and animal welfare. With the ability to scale production and tailor products for our animals and operations, we have partnered with Provectus Algae to conduct trials of their product designed to reduce methane emissions and increase cattle performance. Achieving increased performance alongside the reduction in methane will provide great opportunity for the industry and we are eager to be a part of this journey,' said Charlie Mort, Executive Chairman of Mort & Co. Article content The Series A funds are complemented by support from the Australian Government's Industry Growth Program. The highly competitive 'Commercialisation and Growth' grant helps innovative startups and businesses with high growth potential that want to transform, significantly scale up, and build Australian manufacturing capability for the future. Article content 'I am incredibly proud of what our team has built despite challenging headwinds in the biotech sector. This milestone is a testament to our team's determination and their desire to deliver lasting advancements in sustainable biomanufacturing,' said Nusqe Spanton, Founder and CEO of Provectus Algae. 'With Tom Chi coming aboard and Mort & Co's strategic backing, our team has become even stronger as we scale the world's best methane-reducing feed supplement.' Article content Provectus Algae transforms natural processes into scalable, carbon-negative solutions. Through its proprietary technologies, Provectus Algae has developed an end-to-end platform capable of taking algae-based bioproducts from concept to commercialization. By integrating research, development, and production into a seamless workflow, Provectus Algae enables sustainable biomanufacturing at scale, offering cost-effective and eco-friendly solutions across industries, including agriculture, personal care, and beyond. To learn more, please visit Article content Article content Article content Article content
CBC
15-07-2025
- Business
- CBC
Northern Pulp's decision to sell off assets a blow to N.S. forestry sector
For Todd Burgess and the rest of Nova Scotia's forestry sector, word that Northern Pulp is abandoning the idea of a new multi-billion-dollar operation near Liverpool was not the news they were hoping for. "It's devastating, really, for forestry in Nova Scotia," said Burgess, executive director of Forest Nova Scotia. "It's going to make it more difficult for woodlot owners to manage their woodlot properly, it's going to be difficult for forestry contractors to succeed and be profitable." Officials with Northern Pulp announced Monday night that a review of the proposed new bleached softwood kraft pulp mill and bioproducts hub would not generate the required 14 per cent rate of return to be deemed viable. Still looking for a mill Instead, the company is moving ahead with plans to auction off its Nova Scotia-based assets as part of a creditor protection process that's been ongoing for more than five years. Natural Resources Minister Tory Rushton said he was disappointed but not surprised by the outcome. Rushton said the provincial government continues to be ready and willing to help bring a new pulp mill to the province, but he said such a venture would also require the participation of the federal government, and any proponent would have to "put skin in the game as well." "We're still having conversations, we're still interested and we will do everything we can to investigate a market for low-grade wood fibre," he said in an interview. Freeman Lumber in Greenfield was one of the operations that stood to gain the most from a new mill being situated a short drive away at the site of the former Bowater Mersey operation. Markets needed for low-grade products Marcus Zwicker, the company's chief operating officer, said the sector has struggled to find a market for low-grade byproducts from lumber production and harvests since Northern Pulp shut down in 2020. Along with the economic development that would have come from the construction of a new mill, he said the operation would have "substantially" increased the value of residual products that right now are mostly being used to produce heat and electricity. "And the value there just isn't the same as marketing a product that consumers can buy or use, whether that's tissue, cardboard, coffee filters, you name it — whatever comes from a pulp product," he said in an interview. "All of those things have a significantly higher value." Zwicker said he believes a pulp mill smaller than what Northern Pulp was proposing — and with a lower required rate of return — would be more likely to be viable for the province. Future of timberland He and Burgess both said they also have concerns about the loss of the greenhouses Northern Pulp used to maintain, which would produce millions of seedlings a year for reforestation efforts. Rushton said officials in his department are looking at potential options to fill the gap. The minister is also watching to see what happens with the process to sell off the nearly 200,000 hectares of timberland Northern Pulp managed. It's too soon to say if the province would get in on the bidding, but Rushton said he has a keen interest in seeing that the land remains for industrial use to the benefit of the forestry sector in Nova Scotia. Burgess said he's hoping that as the search continues to get a new mill in the province, attention also turns to other potential uses for waste products, such as expanded district heat projects. Trauma not easily forgotten Although Northern Pulp has not operated a mill in the province since failing to get environmental approval from the provincial government for a new effluent treatment facility, Pictou Landing First Nation Chief Tamara Young was thinking Tuesday about the site's legacy and what it leaves behind for the future. The mill used Boat Harbour, a former tidal estuary beside the First Nation, to treat its effluent. Former premier Stephen McNeil called it one of the worst examples of environmental racism in the province's history. Even after the taps were turned off in 2020, the community is still dealing with the fallout, and cleanup of the site remains years away. "For decades, our Nation bore the direct impacts of Northern Pulp's operations," Young said in an emailed statement. "While the mill closed in 2020, the trauma and environmental degradation it left behind are not easily forgotten — or forgiven."
Yahoo
11-05-2025
- Science
- Yahoo
WSU scientists find new way to convert corn waste into low-cost biofuel
Scientists at Washington State University have found a new way to produce sugar from corn stalks and other crop waste, potentially opening a new pathway to sustainable biofuels. Newly published in Bioresource Technology, their experimental process used 'ammonium sulfite-based alkali salts' to convert leftover corn stalks, husks, and other residues into low-cost sugar for production of biofuels and bioproducts, making the process more economically feasible. 'Inexpensive sugar is the key to commercial success for new technologies that make fuels and useful products from renewable biomass,' said Bin Yang, professor at WSU's Department of Biological Systems Engineering and a lead investigator on the study. You can learn more about their findings here.
