NovoNutrients, a Sunnyvale, CA-based biotech company transforming CO₂ emissions into premium protein, raised US$18M in Series A funding.
The round, which brought the total amount to $23M, was led by Woodside Energy and CM Venture Capital. Other participants included SOSV’s IndieBio, Decarbonization Consortium, Happiness Capital, The Jeremy, Hannelore Grantham Environmental Trust, and Audacy Ventures.
The company intends to use the funds to support its industrial pilot program, team growth, and commercial partnerships.
Led by CEO David Tze, NovoNutrients transforms industrial CO₂ emissions into protein ingredients for food and feed. Their proprietary gas fermentation technology employs natural microbes to convert CO₂ and clean hydrogen into complete protein with nutritional value equivalent to beef. Its business model allows emitters to invest in carbon capture and utilization projects, with NovoNutrients serving as the technology partner.
FinSMEs
16/07/2024