SCP pioneer raises US$39m in funding round led by BP venture arm
The producer says one of the benefits of using its SCP is that it helps decouple feed production from land. Its production model relies on a proprietary, commercially validated gas fermentation process using naturally occurring, non-GM microbes that use methane as their energy source.
Meghan Sharp, head of bp ventures, said production of FeedKind supports bp’s strategy of creating new markets in which gas can play a material role in delivering a more sustainable future. “That’s why in 2019 bp ventures invested in Calysta and its FeedKind technology, and today we are excited to build on that investment with an additional US$10m commitment.”
Joining bp ventures in the round were Adisseo, AquaSpark and WTI, as well as other existing investors in the Menlo Park, California headquartered company.
Asian facility nearing completion
Calysta, which operates an R&D facility in the UK, said the expansion of the Series D-1 funding round will support scoping and pre-development of the company’s next manufacturing site, outside Asia.
The biotech says it is currently working towards completion of its first commercial production facility in China. That is being done through its 50/50 JV with Adisseo. The plant is set to be operational late next year. That facility will bring 20,000 tons of production capacity online in 2022, with 60,000 tons to follow shortly thereafter.
There is already significant customer demand for this protein in China, added the producer.
Additional product manufactured outside Asia will support sustainable growth of the aquaculture sector in key markets, it confirmed.
Thomas Huot, Calysta’s COO, said the company benefits from a close working relationship with its partners. It can leverage bp’s operational excellence and focus on delivering sustainable energy, while Adisseo is supporting commercialization of the product along with sales and marketing efforts in Asia.
