AgTech Start-up Delivers up to 32% Reduction of Greenhouse Gases, Helping Ag and Food Industry to Reach Scope 3 Sustainability Targets
Anuvia™ Plant Nutrients today announced it has raised $103 million in Series C funding, co-led by TPG ART and Pontifax Global Food and Agriculture Technology Fund (Pontifax AgTech), with additional investment from Generate and Piva Capital.
Anuvia will use the financing to increase the production capacity and expand commercialization of its innovative nutrient delivery technology, as commercial agriculture continues its transformation into more sustainable and profitable practices. Anuvia’s SymTRX™ is already in commercial use on U.S. farms, with use expected to increase to reach 20 million acres by 2025.
The announcement comes just months after Anuvia announced a commercial agreement with The Mosaic Company (NYSE:MOS) to exclusively license its SymTRX10S product in the U.S. to be sold as Susterra™ by Mosaic, further accelerating Anuvia’s growth and availability.
As consumers and mainstream retailers are increasingly demanding sustainability across the supply chain, Anuvia’s technology is helping farms be more competitive in the changing landscape.
"By achieving meaningful and immediate reductions in greenhouse gases in crop production, Anuvia is helping to bring Scope 3 sustainability targets into focus," says Anuvia CEO Amy Yoder. "The immediate ROI for farmers is driving fast adoption of our technology, accelerating the benefits to the entire food value chain."
Environmental Resources Management (ERM), a leading global environmental consulting firm, verified the environmental impact of Anuvia’s bio-based SymTRX nutrient technology versus traditional fertilizer on corn, rice, and cotton. The study found that Anuvia reduces greenhouse gases on production by up to 32%, compared to the use of conventional fertilizers. (Environmental Resources Management, 2019)
Based on the ERM study, it is possible to state that for every million acres of crops that use Anuvia’s products, the reduction of greenhouse gases is the equivalent of removing up to 30,000 cars from the roads. With 90 million acres of corn in the United States alone, this would conservatively translate to 1.8 million cars removed in perpetuity.
"With the world’s population expected to hit 10 billion by 2050, we need technology-enabled, large-scale agriculture to meet this growing demand," says Dr. Geoff Duyk, Founder and Managing Partner of Circularis and Anuvia Board Member. "Anuvia’s technology will help farms continue to feed the world, while also advancing the circular economy, increasing sustainability, and enhancing resource efficiency."
"As consumers and mainstream retailers increase demand for sustainability across the supply chain, Anuvia’s technology is helping farms compete in the changing landscape," says Pontifax AgTech Co-Founder and Managing Partner Ben Belldegrun. "We are pleased to continue our investment relationship with Anuvia and look forward to being part of its evolution and growth."
Enabling the Circular Economy, Improving Soil Health for the Planet
Anuvia’s products reduce this nutrient loss through its technology that binds together organic matter derived from organic waste with inorganic nutrients. Slowly released nutrients provide efficient feeding when growing plants need nutrients most. The result is improved yields that deliver better returns for the farmer, while reducing impact on the planet. Introducing organic matter back to the soil, as nature does, promotes regenerative agriculture, improving soil health and preserving a natural resource for the next generation.
For more information, visit Anuvia Newsroom.
Anuvia Plant Nutrients manufactures high-efficiency, sustainable bio-based fertilizers for the agriculture, turf, and lawncare industries. Located in Winter Garden, Florida, the company developed and uses a unique technology that not only optimizes nutrient availability and efficiency for plants, but also improves soil health, preserves natural resources, and reduces greenhouse gas emissions. Anuvia is committed to offering easily adoptable, profitable, and sustainable solutions to customers, their communities, and global agriculture. To learn more about Anuvia Plant Nutrients – GreenTRX for Turf and Lawn, SymTRX for Agriculture – visit www.anuviaplantnutrients.com.
TPG is a leading global alternative asset firm founded in 1992 with approximately $85 billion of assets under management and offices in Austin, Beijing, Fort Worth, Hong Kong, London, Luxembourg, Melbourne, Moscow, Mumbai, New York, San Francisco, Seoul, Singapore, and Washington, DC. TPG’s investment platforms are across a wide range of asset classes, including private equity, growth equity, impact investing, real estate, and public equity. TPG aims to build dynamic products and options for its investors while also instituting discipline and operational excellence across the investment strategy and performance of its portfolio. For more information, visit www.tpg.com and on Twitter @TPG.
About Pontifax AgTech
Founded in 2013, Santa Monica, Calif.-based Pontifax AgTech is a growth capital investor in food and agriculture technology. The firm invests globally in established businesses with proven technologies that improve productivity, efficiency, and sustainability in the food and agriculture supply chain, as well as nutrition and health. Portfolio companies include Anuvia, Pairwise, Tropic Biosciences, Precision Bioscience, Caribou Biosciences, Provivi, The Bouqs, FoodlogiQ, Conservis, and AgBiome. Pontifax AgTech currently manages $471 million in assets. For more information, visit www.pontifaxagtech.com.
Generate Capital, Inc. is a leading sustainable infrastructure company driving the infrastructure revolution. Generate builds, owns, operates and finances solutions for clean energy, water, waste and transportation. Founded in 2014, Generate partners with over 35 technology and project developers and owns and operates more than 2,000 assets globally. Generate is the one-stop shop offering pioneers of the infrastructure revolution tailored funding and support needed to get projects built. Our Infrastructure-as-a-Service model delivers affordable, reliable and sustainable resources to over 1,000 customers, companies, communities, school districts and universities. Together, we are rebuilding the world. For more information, please visit www.generatecapital.com.
About Piva Capital
Piva Capital invests in the leading people and companies solving the world's greatest industrial and energy problems with breakthrough technologies and new, innovative ways of doing business. Based in San Francisco, our accomplished and connected team invests in early to growth-stage companies around the world. Visit www.piva.vc.
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