NovoNutrients, a pioneering biotech firm at the forefront of transforming CO₂ emissions into premium protein, has announced a significant milestone with the successful first closing of its Series A financing, securing $18 million. This round, led by global energy company Woodside Energy and co-led by CM Venture Capital, marks a crucial step forward in advancing its innovative carbon capture and utilization (CCU) technology.
NovoNutrients’ proprietary process converts industrial CO₂ emissions and hydrogen into Novotein™, a complete protein ingredient with nutritional value equivalent to beef. This breakthrough not only addresses sustainability challenges but also positions NovoNutrients as a leader in the quest for sustainable food sources. The funding will accelerate the company’s industrial pilot program, team expansion, and strategic partnerships across the energy and nutrition sectors.
“We are thrilled to embark on this transformative journey with our investors,” stated David Tze, CEO of NovoNutrients. “This funding enables us to further develop our technology, demonstrating its potential to revolutionize global food production sustainably.”
Novotein™ has shown exceptional promise in reducing water and land use compared to conventional proteins, making it an attractive solution for pet food, aquaculture, and plant-based alternatives. This versatility underscores NovoNutrients’ commitment to addressing the growing demand for sustainable protein sources worldwide.
Commenting on the investment, Min Zhou, Managing Partner of CM Venture Capital, emphasized, “NovoNutrients’ innovative approach aligns with our focus on renewable carbon and advanced material sciences. We are confident in their ability to lead the charge towards a lower carbon economy.”
Supported by a diverse consortium of investors including SOSV’s IndieBio, Happiness Capital, and The Jeremy and Hannelore Grantham Environmental Trust, NovoNutrients is well-positioned to drive significant impact in both environmental stewardship and global food security.
As NovoNutrients continues to expand its technological capabilities and forge new partnerships, it aims to emerge as a key player in sustainable protein production, shaping the future of food with innovation and environmental responsibility.
Editorial Opinion:
NovoNutrients’ groundbreaking technology not only promises to reduce industrial emissions but also offers a sustainable solution to the burgeoning global demand for protein. By harnessing CO₂ to produce high-quality protein alternatives, NovoNutrients exemplifies the potential of biotech to address critical environmental challenges while meeting nutritional needs. As the company expands its reach and capabilities, it stands poised to make a profound impact on both industry practices and global sustainability efforts.
If you need further assistance or have any corrections, please reach out to editor@thetimesmag.com.
