Calysta, Inc. today announced it has raised $40 million in a Series D funding round led by Tokyo-based Mitsui & Co. Singapore’s state investment firm Temasek Holdings also participated, alongside current investors Cargill, the Municipal Employee Retirement System (MERS) of Michigan, Walden Riverwood Ventures, aquaculture investment fund Aqua-Spark and Pangaea Ventures.
Calysta develops and commercialises FeedKind protein, an alternative feed ingredient for fish, livestock and pet nutritional products. It intends to use proceeds from the investment to advance commercial scale manufacturing of FeedKind.
Joining the Calysta Board of Directors from Mitsui will be Hitoshi Kudo, General Manager, Animal Nutrition Dept., Nutriscience Division, Nutrition & Agriculture Business Unit. Joining from Temasek will be Suan Swee Tan, Managing Director, Investments Agribusiness and Biotech.
Mitsui & Co. is a diversified global trading, investment, and service enterprise headquartered in Tokyo, Japan. It is among the largest sogo shosha (i.e. general trading companies) in Japan, and part of the Mitsui Group.
“We are very pleased to welcome Mitsui and Temasek to Calysta’s strategic family of investors, supporting committed investing in products that will make a global impact,” said Tom Baruch, Executive Chairman of the Board.
“Calysta’s FeedKind protein, expected to enter commercial production in 2019, can help address the world’s growing demand for new sustainable sources of protein and greater food security.”
Baruch adds, “We look forward to working with Mitsui as a strategic partner in marketing and distribution of FeedKind in important new markets (Asia) and in the expansion of FeedKind production. We also welcome the opportunity to establish a significant collaboration in Singapore with Temasek, a leader in supporting innovative technology development.”
In November 2016, Calysta and Cargill, along with several third-party investors, announced plans to invest in the creation of the world’s largest gas fermentation facility in Memphis, Tennessee, to produce FeedKind protein.
The facility is expected to come online in 2019, producing up to 20,000 metric tonnes per year of FeedKind protein initially and expanding to up to 200,000 metric tonnes per year when operating at full capacity. Calysta also operates a Market Introduction Facility in the United Kingdom supplying sample quantities of FeedKind protein for customers.