Canada: $15.4 million for biofuel producer
Steven Fabijanski, President and CEO stated, “This funding is enabling us to further the expansion of our business to international markets for our sustainable crop Carinata. The Series B funding was used to develop and execute our new commercial programs in South America, as well as to initiate deliveries of commercial scale volumes of Carinata feedstock to new customers around the world. The funding was also used to develop key markets for the non-GMO, sustainable animal feed co-product, positioning the Carinata business for rapid expansion and scaling of production servicing both the biofuels industry and the growing demand for sustainably produced protein in the animal feed industry. The addition of new shareholder expertise with a focus on sustainability, the environment and global business experience, along with additional support from current shareholders highlights our opportunity and progress with the commercialization of Carinata.”
“Agrisoma represents the future of the aviation industry. By growing Carinata and producing oil for bio jet fuel, it demonstrates how a technology-based company can have a global impact by reducing GHG emissions in an industry known for its significant carbon footprint. Cycle Capital is very proud to be part of this green revolution,” says Andrée-Lise Méthot, Founder and Managing Partner at Cycle Capital Management.
Catherine Vu, Chief Financial Officer at Groupe Lune Rouge has joined the Board of Directors at Agrisoma, concurrent with the closing. Having spent most of her career at Cirque du Soleil in Corporate Finance and Investments, she brings deep expertise in financing, operations and management of global businesses. “We are very proud to be associated with Agrisoma and to contribute to the development of the company. Agrisoma brings a sustainable solution to renewable energy and climate change. We are thrilled to become part of this”.
For more information:
www.agrisoma.com