Provectus Algae, an Australian biotechnology company, secured $12.6 million in combined Series A and grant funding. At One Ventures led the $10.1 million Series A round. The Australian government's Industry Growth Program provided an additional $2.5 million in grant funding.
This capital injection will scale production of Surf'N'Turf, Provectus Algae's innovative feed supplement. The algae-based product significantly reduces methane generation in ruminant livestock. The company plans the world's largest pilot trials for this solution, advancing algae methane reduction efforts. This funding boosts the global push for algae methane reduction solutions.
Advancing Sustainable Livestock Solutions
Provectus Algae employs proprietary Precision Photosynthesis and artificial intelligence (AI) enabled biomanufacturing technologies. This allows for scalable production of algae-based bioproducts. Tom Chi, Founding Partner of At One Ventures, joins the company's Board of Directors.
Mort & Co, a large Australian lot feeding manager, will conduct trials of the product. This partnership aims to improve cattle performance alongside methane reduction.
The company's platform offers solutions for sustainable biomanufacturing across various industries. Other companies like CH4 Global and Rumin8 also focus on similar livestock emission reduction technologies. Provectus Algae's focus on algae methane reduction provides a unique approach to agricultural sustainability.
