Anuvia Plant Nutrients, Winter Garden, Fla., announced on April 25 that it has raised $65.5 million in Series D funding, which it will use to finance increased production capacity and expand the commercialization of its SymTRX™ XP line of bio-based fertilizers for large-scale agriculture.
The funding was co-led by Riverstone Holdings LLC and Piva Capital. Also joining the Series D round were Morgan Stanley Investment Management, LK Advisers Limited (Mittal Family Office), along with existing investor Pontifax Global Food and Agriculture Technology Fund.
“With consumers, regulators, and the public pushing for more sustainable food production methods, Anuvia is focused on rapidly increasing manufacturing capacity of our field-ready bio-based plant nutrient system,” said Amy Yoder, Anuvia CEO. “Anuvia’s production is entirely U.S. based, ensuring supply-chain security for North American growers.”
Anuvia has a ten-year lease of The Mosaic Co.’s Plant City, Fla., manufacturing facility (GM Sept. 27, 2019). Following a recent expansion, Anuvia said the Plant City facility now has the capacity to expand to 1.2 million tons per year of high-efficiency, sustainable fertilizers for the agriculture, turf, and lawn care industries. The company said this is enough to service more than 20 million acres of agricultural crops and meet the growing demand for sustainable products.
“We believe Anuvia occupies a unique niche in the fertilizer value chain by delivering a sustainable product that decarbonizes existing on-farm practices while improving yields at attractive ROIs for row crop growers,” said Cynthia Kueppers, Managing Director at Riverstone Holdings. “Through its waste-to-value production process and reduced reliance on traditional nutrition derived from fossil fuels, Anuvia is positioned to become a key player in transitioning the industry to more sustainable growing practices.”
Anuvia said an environmental audit conducted by Environmental Resources Management (ERM) found that for every million acres of crops that use Anuvia’s products, the reduction of greenhouse gases is the equivalent of removing up to 30,000 cars from the roads.
“From shortages in food production due to rising energy prices coupled with the recent dramatic fall-off in supply availability of fertilizer, there has never been a greater need for sustainable bio-based fertilizers like Anuvia’s,” said Mark Gudiksen, Managing Partner at Piva Capital. “The company not only has the ability to scale world-class manufacturing capacity that can help farmers produce crops that reduce greenhouse gasses, but it can also do so at a scale and speed that will help address the challenges facing global fertilizer supply.”