CALYSTA, the American producers of the alternative fish feed ingredient FeedKind, has secured a further $40 million in funding, it was announced today.
The company intends to use a majority of the proceeds of the Series D investment to advance commercial scale manufacturing of Calysta’s FeedKind protein.
Last November, Calysta and its partner Cargill, along with several third-party investors, announced plans to invest in the creation of the world’s largest gas fermentation facility in Memphis, Tennessee, to produce FeedKind protein.
The facility is expected to come online in 2019, producing up to 20,000 tonnes per year of FeedKind protein initially and expanding to up to 200,000 tonnes per year when operating at full capacity.
Calysta also operates a market introduction facility in the UK, supplying sample quantities of the protein for customers.
The new financing round was led by Mitsui and Co of Japan, and also involved Temasek, a Singapore based investment company, current investors Cargill, the Municipal Employee Retirement System (MERS) of Michigan, Walden Riverwood Ventures, Aqua-Spark and Pangaea Ventures.
Joining the Calysta board of directors from Mitsui will be Hitoshi Kudo, general manager, Animal Nutrition Dept, Nutriscience Division, Nutrition & Agriculture Business Unit. Joining from Temasek will be Suan Swee Tan, managing director, Investments Agribusiness and Biotech.
‘We are very pleased to welcome Mitsui and Temasek to Calysta’s strategic family of investors, supporting committed investing in products that will make a global impact,’ said Tom Baruch, executive chairman of the Board.
‘Calysta’s FeedKind protein, expected to enter commercial production in 2019, can help address the world’s growing demand for new sustainable sources of protein and greater food security.’