San Francisco, US-based startup NovoNutrients has raised $18 million to build a pilot plant that will use carbon dioxide-eating microbes to produce protein for animal feed, aquafeed and pet food, reports TechCrunch.
The company's series A funding round was led by Woodside Energy, an Australian energy firm, and CM Ventures. The total includes $3m Woodside previously committed last year.
NovoNutrients plans to use the funds to construct a pilot plant in the San Francisco Bay Area to test and refine the company's bioreactor designs and microbial strains.
NovoNutrients employs thin, looped cylinders instead of large tanks to ferment carbon dioxide into protein, which founder David Tze says lowers energy needs.
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