Transforming Algae into Industries' Game Changer: Provectus Algae Nabs $12.6M Funding to Power Its Revolutionary Bioproducts

Australian biotech firm, Provectus Algae, has innovatively programmed algae to craft category-defining bioproducts and offer sustainable solutions to various industries. The company recently scored a hefty funding round of $10.1 million, supplemented by a $2.5m grant from the Australian Government. The financing round saw participation from At One Ventures, Methane Mitigation, Mort & Co, Hitachi Ventures, and a slew of other investors.

The fresh financing would help Provectus Algae upscale Surf’N’Turf®, its groundbreaking product that is an algae-infused supplement for ruminant livestock. This supplement not onlyimproves rumen digestion but also curtails methane generation from livestock, thus becoming an answer to the industry’s long-standing emissions issue. The funding will also power the largest pilot trials globally for such a product and also aid in offering sizeable quantities to the market.

The financial boost is amplified by support from the Australian Government’s Industry Growth Program — a highly competitive grant that opens up opportunities for high-growth potential startups to substantially scale and build Australian manufacturing capacity for the future.

The Provectus Algae team, under the leadership of founder and CEO Nusqe Spanton, has proven its mettle by achieving this milestone in the face of challenging headwinds in the biotech industry. With Tom Chi of At One Ventures ascending the board and strategic backing from Mort & Co, Provectus is poised for a prolific journey of scaling up its revolutionary methane-reducing feed supplement.

Provectus Algae’s valor in transforming natural processes into scalable, carbon-negative solutions is appreciable. By integrating research, development, and production, the company is breaking ground with its sustainable and cost-effective business model. Provectus Algae’s ambitious plans to build eco-friendly solutions for various sectors, including agriculture and personal care, are reasons enough to keep this startup on the radar.