Nutrinsic raises US$12.7m to fuel growth
New investor Artiman Ventures led the investment round
Nutrinsic has raised US$12.7m to support continued growth of its sustainable protein business. ProFloc, a high quality protein ingredient for use in animal nutrition, is produced using patented technology that up cycles nutrients that are currently lost in food and beverage plant wastewater treatment.
New investor Artiman Ventures led the investment round and was joined by current shareholders IDG Capital, High Country Venture and Maxhill Industries.
'Nutrinsic lowers the treatment cost and improves the effluent quality for food and beverage waste streams while producing a superior, significant and sustainable source of protein for animal feed,' said Tim Wilson, Managing Director, Artiman Ventures. 'It is rare to see an emerging green technology be commercially viable without government incentives or regulation.'
Nutrinsic is constructing its first US production facility in Trenton, Ohio, which should be operational by the end of the year. A facility in China has been operational for several months and is co-owned by Nutrinsic and other partners in a joint venture.
