Anuvia Plant Nutrients announced it has raised $65.5 million in Series D funding co-led by Riverstone Holdings LLC and Piva Capital. Anuvia will use the financing to increase production capacity at its U.S.-based eco-friendly manufacturing facility and expand commercialization of its SymTRX™ XP line of field-ready bio-based fertilizers for large-scale agriculture. Also joining the Series D round are Morgan Stanley Investment Management, LK Advisers Limited (Mittal Family Office), along with existing investor Pontifax Global Food and Agriculture Technology Fund.
The funding announcement comes at a time when the U.S. Department of Agriculture (USDA) has pledged $250 million to support “innovative American-made fertilizers,” underscoring the need to reduce dependence on traditional fertilizers sourced internationally.
“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, CEO, Anuvia Plant Nutrients. “Anuvia’s production is entirely U.S. based, ensuring supply-chain security for North American growers.”
Recently, Anuvia completed the expansion of its facility in Plant City, Florida. The facility has the capacity to expand to 1.2 million tons per year, enough to service over 20 million acres of agricultural crops and meet the growing demand for sustainable products. This production facility represents a novel, sustainable approach to repurposing and extending the useful life of idled fertilizer manufacturing facilities. Its manufacturing forms a closed loop in which no waste stream is created—only clean air and finished product. For every ton of organic material used, approximately a ton of fertilizer is produced.
“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 LLC. “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.”
According to an environmental audit conducted by Environmental Resources Management [ERM], Anuvia’s impact is substantial: 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.