Calysta, Inc., a Menlo Park, CA-based developer of sustainable industrial products for food and energy security, raised $30m in Series C funding.
Backers included Cargill, the Municipal Employee Retirement System (MERS) of Michigan and Old Westbury Global Real Assets Fund LLC, and current investors Walden Riverwood Ventures, Aqua-Spark and Pangaea Ventures. In conjunction with the funding, Brian Silvey, Cargill vice president, Corn Milling, and Edward Mikolay, MERS of Michigan senior investment officer and director of Private Markets, will be joining the Calysta Board of Directors.
The company intends to use the funds for new product development, commercial manufacturing and continued advances in its proprietary state-of-the-art gas fermentation platform.
Led by Alan Shaw, Ph.D., President and CEO, Calysta has two business units:
– Calysta Nutrition, which develops and commercializes FeedKind™ protein, a new fish and animal feed ingredient that can reduce the aquaculture and agriculture industries’ reliance on unsustainable ingredients and production methods; and
– Calysta Energy, which is developing high value materials for use in industrial and consumer products.
In addition to the funding, Calysta and Cargill will collaborate in the North American manufacturing and global marketing of the company’s FeedKind™ protein, a family of high value environmentally-friendly nutritional feed additives for fish and livestock.
In January 2016, Calysta also announced conditional receipt of a grant from the United Kingdom for development of a Market Introduction Facility in northern England.