Agtech and foodtech have been making headlines this week with significant developments in various sectors. One of the major highlights is the emergence of Zordi, a US-based company that has come out of stealth with its autonomous greenhouse technology. Zordi specializes in autonomous greenhouses equipped with robotics, which can revolutionize the way we grow crops.
In the foodtech sector, Japan’s DAIZ has secured a whopping $47 million in series C funding to build the country’s largest plant-based meat factory. This investment will not only boost the plant-based meat industry in Japan but also contribute to the global shift towards sustainable and cruelty-free alternatives to traditional meat products.
Another noteworthy funding announcement comes from Moolec Science, which has raised $30 million in cash and in-kind contributions from strategic investors. This funding will support Moolec’s research and development projects and help in the commercialization of its molecular farming platform. The advancements in molecular farming can have a significant impact on the production of alternative proteins and contribute to a more sustainable food system.
In the insect protein sector, Beta Bugs has secured £1.72 million to scale up insect protein production. The investment, led by the TRICAPITAL Syndicate, will enable Beta Bugs to meet the growing demand for insect-based protein, which has gained popularity due to its environmental sustainability and nutritional benefits.
Tyson Foods, a major player in the food industry, has also made an undisclosed investment in Protix, an insect protein startup. The two companies will collaborate to build a facility for producing insect protein for animal feed ingredients, aquaculture, and pet food. This partnership highlights the increasing recognition of the potential of insect protein as a sustainable and efficient source of nutrition.
Moving on to mergers, IPOs, and partnerships, General Mills and Walmart have joined forces to accelerate the adoption of regenerative agriculture. The collaboration aims to fund projects that promote regenerative agriculture practices on 600,000 acres by 2030. This partnership is a significant step towards building a more sustainable and resilient agricultural system.
In the alternative protein space, Vaess and Marlow Ingredients have teamed up to develop protein alternatives made from mycoprotein. This collaboration brings together expertise in alternative protein production and can contribute to the expansion of the plant-based protein market.
Farmers Business Network (FBN) and ADM have expanded their partnership to promote regenerative agriculture. FBN will help ADM expand its re:generations program, which focuses on sustainable farming practices, to include more than 3,000 growers. This partnership aims to drive the adoption of regenerative agriculture and support farmers in implementing sustainable practices.
UfarmX, a blockchain platform for agriculture, has partnered with The SEED Project to expand its operations to Senegal. Through this partnership, 2,000 students will gain hands-on experience with agtech, fostering innovation and sustainability in Senegal’s agricultural sector.
In terms of funding, Virginia Tech has received $80 million to help farmers implement “smart-climate” practices. This program will serve as a pilot for a national model and support farmers of all sizes in adopting climate-smart practices.
The Department of Energy’s Office of Fossil Energy and Carbon Management has announced a $35 million investment in carbon removal technology. This initiative, known as the Carbon Dioxide Removal (CDR) Purchase Pilot Prize, will enable winners to sell carbon dioxide removal credits directly to the DOE, contributing to efforts to combat climate change.
Grain-trading platform Bushel has received a $3.5 million grant to develop a carbon-intensity reporting feature. This funding, part of the North Dakota Industrial Commission’s Clean Sustainable Energy program, will enhance transparency and accountability in the agricultural supply chain.
In other news, Italy has withdrawn a bill that proposed a ban on cultivated meat and restricted terms used for describing plant-based meat. This decision reflects the growing acceptance and recognition of alternative protein sources.
South Carolina has received legislative approval to build a vertical farm at a women’s correctional facility. This $1.2 million project aims to produce 48,000 pounds of lettuce per year, providing valuable skills and opportunities for incarcerated individuals.
Nourish, a startup, has showcased its animal-free cooking fat at SXSW. The company claims that its proprietary fat provides the distinct taste and aroma of traditional meat fats, catering to the increasing demand for plant-based alternatives that don’t compromise on flavor.
Lastly, Mars, the global consumer packaged goods giant, has unveiled its “net zero” roadmap. The company aims to reduce emissions by 50% by 2030, using a 2015 baseline, and achieve net-zero emissions by 2050. This commitment demonstrates Mars’ dedication to sustainability and addressing climate change.
Overall, the developments in agtech and foodtech this week highlight the growing momentum towards sustainable and innovative solutions in agriculture and food production. These advancements have the potential to transform the industry and contribute to a more resilient and environmentally friendly future.