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US (CA): WISErg raises $19.2 million to build California plantWISErg closed a $19.2 million Series C funding round led by Laird Norton Company, bringing the total invested to date to $56.6 million. Existing investors, including Second Avenue Partners, rounded out the list of participants.
WISErg has created a new generation of fertilizer products. The company’s products are based on food waste sourced from grocery stores and manufactured in a patented zero-waste process, retaining greater than 90% of the nutrient value in the food inputs.
“The way we grow food must change. The move toward sustainable alternatives away from synthetic or petroleum-based products is a major industry shift. Consumers and growers are demanding sustainable alternatives,” says Brian Valentine, CEO. “We recycle the full mix of micronutrients, vitamins, and amino acids from food waste to grow and supplement the next generation of crops, reducing waste at the same time. We recognize that today’s crops need the same things that the previous season’s crops took from the soil. It makes sense and explains why WISErg products are superior.”
WISErg plans to deploy the Series C funds in California, building a second manufacturing plant serving growers in California, Arizona, and Mexico. In addition, the Company continues to expand its distribution networks throughout South and Central America and the United States and invest in its growing product portfolio.
“We are excited to continue our partnership with WISErg,” said Laird Norton Company CEO, Jeffery Vincent. “Since our first investment in 2015, WISErg has redefined the traditional model for managing food waste while staying committed to delivering superior products and services. Its dedication to sustainability and the environment aligns with our company’s own corporate values, making it an ideal long-term partner.”
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Publication date: 1/18/2018
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