Agrisoma raises money for oil for biofuel production
September 29, 2014
By Canadian Biomass
September 26, 2014, Gatineau, Que. – Agrisoma Biosciences Inc. announced the first closing of its Series A financing round, expected to total $8 million through 2014. The funding round was led by Cycle Capital Management and included participation of BDC Venture Capital, one of Agrisoma’s current equity investors.
September 26, 2014, Gatineau, Que. – Agrisoma Biosciences
Inc. announced the first closing of its Series A financing round, expected to
total $8 million through 2014. The funding round was led by Cycle Capital
Management and included participation of BDC Venture Capital, one of Agrisoma’s
current equity investors.
Steven Fabijanski, President and CEO stated, “We are very
proud to include an experienced team like Cycle Capital Management as a new
partner in our business. We welcome their expertise and network. We are also
very excited to have one of our current equity partners BDC Venture Capital
continue their support of the company as we focus on expanding our
commercialization to new regions of production.”
Carinata, the world’s first non-food crop that produces oil
uniquely suited for biofuel production. Resonance Carinata is under commercial
production in the USA and Canada and the oil has been used in the production of
biodiesel, renewable diesel and biojet fuels. Resonance Carinata was used to
fuel the world’s first 100% renewable biojet fuel flight that took place in
The production of Resonance Carinata is being expanded to
multiple locations globally to provide a supply of sustainable, non-food oils
for meeting the demand for sustainable biofuels.
Resonance Carinata is certified sustainable by the
Roundtable on Sustainable Biomaterials (RSB), the global standard and certification
scheme for sustainable biofuels. It is one of only four crops in the world to
achieve that status. Resonance Carinata meal has recently received regulatory
approval as an animal feed, further underscoring the value of this crop to meet
the increasing demand for renewable fuel and providing meal for the production
of livestock. Additionally, Resonance Carinata is grown on semi-arid farmland,
creating new economic and production opportunities for growers.
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