Provectus Algae, a biotech company developing the future of bio-manufacturing with carbon-capturing microbes, has secured an undisclosed strategic investment from CJ BIO, a division of South Korea-based food & bio company CJ CheilJedang.
Using its proprietary technologies, Provectus programs microalgae to produce valuable biochemicals using both natural and synthetic biology approaches.
This strategic investment provides Provectus Algae with additional funds to accelerate commercialization efforts that bring innovative specialty ingredients to market, and Provectus Algae expects to gain access to the experience and expertise CJ BIO has built in the biomanufacturing sector.
CJ BIO is a world leader in sustainable biotechnologies and biomanufacturing, recognized for its work on large-scale biomolecule production, scale-up technologies, process automation, and beyond. CJ BIO owns the largest share of the global lysine, tryptophan, nucleic acid, valine, and soy protein concentrate (SPC) markets, manufacturing goods at 13 plants across 6 countries. In addition, CJ BIO has continued to innovate and expand its offerings, including its PHACT, a biodegradable, bio-based polyester.
“As a world leader in commercial biotechnologies, CJ BIO brings a wealth of valuable insight to our operations. Their experience providing sustainable solutions in specialty nutrition and health will be a tremendous asset going forward,” said Nusqe Spanton, Founder and CEO of Provectus Algae. “Our Precision Photosynthesis™ technology and sustainable biomanufacturing platform are an ideal complement to the many fermentation-based technologies CJ BIO has developed and deployed for the production of animal, human, and plant nutrition products as well as biomaterials and enzymes.”
“Our partnership with Provectus Algae will expand CJ CheilJedang’s portfolio of innovative biomaterials and reinforce sustainability through photosynthesis-based carbon-neutral technology,” said Yunil Hwang, CEO, BIO Business Unit of CJ CheilJedang.
CJ BIO continues to make substantial investments into innovative technologies, like that of Provectus Algae, to help the field of green biotechnology continue to blossom. For its part, Provectus Algae aims to make photosynthetic bioprocesses commonplace across the life science sector for both economic advantages and natural carbon capture capabilities.