NEWS 84 FEED & ADDITIVE MAGAZINE July 2022 Symbrosia, a Hawai’i-based startup with a seaweed feed additive that reduces livestock methane emissions by over 80%, has raised $7 million in Series A funding. The funding round is led by Danone Manifesto Ventures. Symbrosia has closed out its Series A funding round with $7 million. After two years of research on seaweed breeding and cultivation technology, Symbrosia has developed strains that are significantly more productive, potent and resilient than wild populations. The company will use the capital to scale production of these breakthrough seaweed strains by orders of magnitude and bring their livestock feed additive, SeaGrazeTM, to market with the world’s most innovative The funding round is led by Danone Manifesto Ventures, the corporate venture arm of Danone, a leading global food and beverage company. For Danone, this investment aligns with its goal of becoming carbon neutral across its full value chain by 2050. Founder and CEO Alexia Akbay, a Forbes 30 Under 30 recipient for Social Impact in 2022, said: “During the past two years of research, we pushed the boundaries in seaweed breeding to develop high-performing seaweed strains. This Series A funding round marks a critical inflection point where we shift our focus to bringing this innovation to market at scale, as quickly as possible, with strategic partners in Hawaii, California, and the Pacific Northwest. The support from Danone Manifesto Ventures and our other investors, existing and new, will enable us to increase seaweed production by a factor of 1,000, round out our team expertise with strategic hires, and put SeaGrazeTM in the hands of visionary companies and livestock producers to create the world’s most sustainable livestock supply chains. Now is our moment to take action on methane.” Symbrosia raises $7m funding to scale methane emission reduction CHS will begin construction this summer on a new state-of-the-art grain facility with 1.25 million bushels of additional storage capacity in Erskine, Minn. The facility is slated to be operational in the fall of 2023 and will help CHS expand operational capabilities and increase efficiency across its footprint. The new shuttle elevator will bring total capacity at the location to 4.55 million bushels of storage and will complement existing CHS grain, agronomy and energy assets and offerings for area producers. "CHS is committed to growing our cooperative with customer-focused solutions that make it easier for producers to do business with us," says Rick Dusek, executive vice president of CHS ag retail operations. "Our people, assets, capabilities and operational footprint are the strengths of our retail platform, and this important project advances our strategy to expand our customer-focused retail solutions platform, creating value and driving growth for farmers – as customers and owners. This facility is a key location in the flow of grain from the Upper Midwest to export terminals in the Pacific Northwest." CHS to build state-of-the-art grain facility
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