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Calysta lands $40m investment for fishmeal replacement facility

01 May 2017

Calysta, Inc., the manufacturer of the microbial fishmeal replacement FeedKind, today announced it had been pledged $40 million in Series D funding.

This financing round was led by Mitsui & Co. Ltd, while other participants were Temasek, a Singapore-based investment company, and current investors Cargill, the Municipal Employee Retirement System (MERS) of Michigan, Walden Riverwood Ventures, Aqua-Spark and Pangaea Ventures.

Joining the Calysta Board of Directors from Mitsui will be Hitoshi Kudo, General Manager, Animal Nutrition Department. Joining from Temasek will be Suan Swee Tan, Managing Director, Investments Agribusiness and Biotech.

Calysta intends to use the majority of the proceeds to advance commercial scale manufacturing of FeedKind, a family of sustainable, traceable nutritional protein ingredients for fish, livestock and pets.

“We are very pleased to welcome Mitsui and Temasek to Calysta’s strategic family of investors, supporting committed investing in products that will make a global impact,” said Tom Baruch, Executive Chairman of the Board. “Calysta’s FeedKind protein, expected to enter commercial production in 2019, can help address the world’s growing demand for new sustainable sources of protein and greater food security.

“We look forward to working with Mitsui as a strategic partner in marketing and distribution of FeedKind in important new markets (Asia) and in the expansion of FeedKind production,” Mr Baruch added. “We also welcome the opportunity to establish a significant collaboration in Singapore with Temasek, a leader in supporting innovative technology development.”

In November 2016, Calysta and Cargill, along with several third-party investors, announced plans to invest in the creation of the world’s largest gas fermentation facility in Memphis. The facility is expected to come online in 2019, producing up to 20,000 metric tons per year of FeedKind protein initially and expanding to up to 200,000 metric tons per year when operating at full capacity. Calysta also operates a Market Introduction Facility in the United Kingdom (pictured), which supplies sample quantities of FeedKind.

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