NOOSAVILLE, Australia
Provectus Algae (Provectus) has secured an undisclosed strategic investment from CJ BIO, a division of South Korea-based food & bio company CJ CheilJedang.
Provectus Algae is a biotechnology company developing the future of biomanufacturing with carbon-capturing microbes. 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.
ABOUT PROVECTUS ALGAE
Provectus Algae is a biotech company that programs algae to produce the world’s most valuable specialty ingredients. By accelerating nature, their team can optimize unique microalgae to produce a whole new range of natural products in a process described as Precision Photosynthesis™. Using next-generation techniques, the company has also developed a synthetic biology stack that complements and competes with existing production platforms to deliver high-performance and sustainable products. To learn more, please visit https://provectusalgae.com.
ABOUT CJ BIO
CJ BIO is a division of CJ CheilJedang, a South Korea-based food & bio company within CJ Group. CJ Group has developed its business portfolio into four core sectors: Food & Food Service, Bio & Pharma, Entertainment & Media, and Retail & Logistics.
CJ BIO is the world’s leading supplier of fermentation-based bio-products for animal nutrition, human nutrition, and biomaterials at its thirteen manufacturing facilities worldwide. As a socially responsible company, CJ BIO strives toward practicing carbon-neutral manufacturing operations by utilizing renewable raw materials and developing value-added co-products to minimize environmental waste.
View source version on businesswire.com: https://www.businesswire.com/news/home/20230301005310/en/
CONTACT
Media
Chris Fisher, PhD
chris.fisher@provectusalgae.com
