Australian biotech firm Provectus Algae says an investment from CJ BIO, the leading global supplier of fermentation-based bio-products, will accelerate its commercialisation efforts.
Provectus has developed proprietary technologies to help achieve its mission of making photosynthetic bioprocesses commonplace across the life science sector for both economic advantages and natural carbon capture capabilities.
Founder and CEO Nusqe Spanton said its technology was developing the future of biomanufacturing with carbon-capturing microbes. The company programs microalgae to produce valuable biochemicals using both natural and synthetic biology approaches.
Spanton said: “As a world leader in commercial biotechnologies, CJ BIO brings a wealth of valuable insight to our operations. Their experience providing sustainable solutions in specialty nutrition and health will be a tremendous asset going forward.
“Our Precision Photosynthesis technology and sustainable biomanufacturing platform are an ideal complement to the many fermentation-based technologies CJ BIO has developed and deployed for the production of animal, human, and plant nutrition products as well as biomaterials and enzymes.”
As well as providing additional funds to accelerate the commercialisation of innovative specialty ingredients, Provectus expects to gain access to the experience and expertise CJ BIO has built in the biomanufacturing sector.
CJ BIO is a division of CJ CheilJedang, a South Korea-based food & bio company within CJ Group. It has 13 manufacturing facilities in six countries that supply products for animal nutrition, human nutrition, and biomaterials.
It is a world leader in sustainable biotechnologies and biomanufacturing, and is recognised for its work on large-scale biomolecule production, scale-up technologies, and process automation.
CJ BIO owns the largest share of the global lysine, tryptophan, nucleic acid, valine, and soy protein concentrate (SPC) markets.
The company is known for making substantial investments in innovative technologies, like that of Provectus Algae, to help develop the field of green biotechnology.
CJ CheilJedang BIO Business Unit CEO, Yunil Hwang, said, “Our partnership with Provectus Algae will expand CJ CheilJedang's portfolio of innovative biomaterials and reinforce sustainability through photosynthesis-based carbon-neutral technology.”