Azotic Technologies Ltd. Raleigh, N.C., and Virya LLC, a climate conscious investment firm, recently announced an agreement to fund rapid global expansion of the Azotic sustainable nitrogen solutions business model. Azotic produces EnvitaTM and N-Fix®, which the company said is the only nitrogen fixing bacteria that works across multiple crops from within plant cells to fix nitrogen from the air.
“The investment from Virya allows us to support the exponential growth we are experiencing in the USA and Canada, as well as accelerate commercial opportunities in Asia, increase production capacity and enhance formulation development,” said Ray Chyc, Azotic CEO. “Our technology provides the balance between productivity and sustainability that agriculture needs and aligns to the purposeful investment strategy of Virya.”
Applied in a liquid formulation as an in-furrow or foliar application, Azotic said its products reduce synthetic nitrogen fertilizer use 25-50 percent while maintaining yield, or can be applied to existing fertility programs to boost yields. Dry formulations and seed treatment options are the next innovations in the product development pipeline of this patent-protected technology.
Azotic said rapid expansion and hiring begin immediately and run parallel to a global partnership strategy that seeks licensees and master distributors in key markets around the globe. The amount of the investment was not released.