NovoNutrients, a biotech trailblazer transforming CO₂ emissions into premium protein has raised US$18 million Series A financing that includes US$10.3 million in new capital and the conversion of US$8 million in previously issued SAFEs. The round was led by Woodside Energy, a global energy company, and co-led by CM Venture Capital.

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Other participants include SOSV’s IndieBio and Decarbonization Consortium, Happiness Capital, The Jeremy and Hannelore Grantham Environmental Trust, and Audacy Ventures. The round targets additional closings for a total of US$23 million.

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The Series A funding will support NovoNutrients’ industrial pilot program, team growth, and commercial partnerships. NovoNutrients has already secured technology development agreements (TDAs) in the energy and nutrition sectors, including a TDA entered into with Woodside Energy in 2023.

“This investment brings us closer to realizing our vision of a world where industrial emissions are upcycled into essential nutrients for a growing population,” said David Tze, CEO of NovoNutrients.

With this Series A financing, NovoNutrients is well-positioned to accelerate its growth and quickly become a leading supplier of CCU technology that enables sustainable protein ingredients,” said Min Zhou, Managing Partner of CM Venture Capital. “Their leading-edge approach aligns with our focus on renewable carbon, advanced materials science and hard-tech innovations. We have great confidence in the NovoNutrients team’s ability to execute their ambitious vision.”

About NovoNutrients

NovoNutrients is a fundamentally new way to make the building blocks of food, using natural microbes to break down molecules and reassemble them into lowest-cost feed and food ingredients. The process’s key inputs are hydrogen and carbon dioxide. Those untreated, waste emissions of CO2 can come from industrial production of cement, ethanol, pulp, paper, fuels, or many other products. Gasification, SMR, and electrolysis (of water) all produce hydrogen. The latter means our tech will be a conduit from generating clean power to storing food energy.