Calysta, one of leading alternative protein producers, has completed a $39 million financing round, led by bp ventures, to support global scale-up of production of Calysta’s FeedKind® protein.
The expansion of the Series D-1 funding round will support scoping and pre-development of the company’s next manufacturing site, outside Asia. Calysta is currently working towards completion of the world’s first commercial FeedKind production facility in China via Calysseo, Calysta’s 50/50 JV with Adisseo. It is set to come online late 2022. It also operates an R&D facility in the UK.
Joining bp ventures in the round were Adisseo, AquaSpark and WTI, as well as Calysta’s other existing investors.
“In expanding FeedKind production beyond the current growth strategy in Asia, we are aiming to continue to convert low cost natural gas resources into high-value, environmentally-friendly protein alternatives,” said Thomas Huot, Ph.D., Calysta’s COO.
“Global food and protein supply chains have never been more challenged, thanks to increasing land and water scarcity coupled with an ever-growing global population. FeedKind makes more from less by utilizing the abundant natural gas resources to produce feed for fish, livestock and pets, reducing the pressure on our oceans and arable land for non-animal feed production.”
Calysta’s technology produces sustainable single-cell protein, which is produced through a proprietary, commercially validated gas fermentation process using naturally occurring, non-GM microbes that use methane as their energy source.
Thomas Huot continued: “We look forward to working closely with our strategic partners at bp and Adisseo as we expand our FeedKind production to the world. Calysta will benefit from bp’s operational excellence and focus on delivering sustainable energy. Meanwhile Adisseo is accelerating commercialization of the product and supporting sales and marketing efforts in Asia.”
Meghan Sharp, head of bp ventures, said: “We believe Calysta’s innovation offers an opportunity to deliver sustainable protein for the planet and 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 $10 million commitment.”
