Anovia plant nutrients It raised $ 103 million to market its new fertilizer technology.
The company is backed by investors like TPG ART, Pontifax Global Food and Agriculture Technology Fund, Capital generation And thebeer CapitalIt is now ready to roll out its technology, which is already in use on nearly 1,200 farms and is expected to be on 20 million acres of farmland by 2025.
Now led by longtime agricultural executive Amy Yoder, who represents the sixth generation of a Michigan farm family, Anuvia introduces its technology as a supplement to crops that can boost productivity by taking excreta, food waste and agricultural processing residues and converting them into useful compost using a special catalytic process.
By treating waste with a specific mixture of chemicals, Yoder said Anuvia’s technology can control nutrient release as plants grow to produce more productive crops, reduce leaching into the soil, protect groundwater, and restore carbon to the soil.
Anuvia is one of a growing number of agri-tech companies trying to era crop productivity and carbon capture to provide additional revenue from more abundant crops and carbon capture and storage. Other startups, including Pivot Bio, Indigo Agriculture, AgBiome, and Agrinos, are all developing other crop treatments that can boost agricultural production.
“M“Most of what I see will be very complementary to us,” Yoder said. “Because we return carbon to the soil, because the nutrients are preserved in a different way. You can benefit from pivot technology and Anuvia technology. Those things when they can benefit together can provide really great solutions in the long run.”
Yoder said that the company, which is based in Winter Garden, Florida, has a production facility of 1.2 million tons, but that the company wants to build additional capacity and continue developing new fertilizers for bringing it to market.
Farmers who use the product see yields about five times their previous production levels and the product can be used on all major grade crops, according to Yoder.
This claim has been verified by the Environmental Resources Management (ERM), a leading global environmental consulting firm, versus the traditional fertilizers for corn, rice and cotton.
Anuvia treatment can also reduce greenhouse gases on production by up to 32% compared to commercial fertilizers. Anuvia estimates its products can provide emissions reductions equivalent to removing 30,000 cars off the road. If the company could get farmers to apply its treatment to 90 million acres of corn in the United States, it would reduce emissions equivalent to 1.8 million cars, according to the statement.
“With the global population expected to reach 10 billion by 2050, we need large-scale, technology-supported agriculture to meet this growing demand,” says Dr. Geoff Dweck, founder and managing partner at Circularis and a board member of Anuvia. “Anuvia technology will help farms continue to feed the world, while promoting a circular economy, increasing sustainability, and enhancing resource efficiency.”