Noosa biotech company Provectus Algae has raised US$3.25 million in seed funding to further cement its position as an emerging
leader in the optimisation of algae to produce speciality ingredients. The seed round was led by Hong Kong based Vectr Ventures, with
participation from Maropost Ventures and additional family offices and private investors.
“Our vision is a world where sustainable high-quality ingredients for all industries are produced in a way
that has a positive environmental impact, Provectus Algae’s technology has the potential to do just that,” CEO and founder Nusqe Spanton said. “We are extremely excited to welcome this stellar group of
investors aboard our journey to assist us in making this happen”
The Provectus Algae team operates out of their recently completed biotech foundry in Noosaville where they have begun the scale-up of their next-generation synthetic biology platform.
Provestus Algae has developed a process to accelerate nature, optimising micro-algae to produce a whole new range of natural products, in a process described as “Precision Photosynthesis“.
Their technology autonomously programs the algae using a combination of proprietary lighting, robotics and
predictive intelligence to produce valuable speciality ingredients.
“Using Precision Photosynthesis™ and high throughput experimentation we are able to quickly learn the
perfect environment each species requires to produce high-quality ingredients for a range of industries,“ Mr Spanton said.
“We estimate there may be more than 5 million algae species on our planet, and only a handful of these
have been commercialised to date, we haven’t even begun to scratch the surface of what’s possible with
algae.” In just a few short months, the company has secured its first commercial partnership with a global food and
beverage ingredients supplier, focusing on producing algae derived natural flavourings, fragrances and
colourants. As part of the next phase of growth, the company has also appointed Ryan Bethencourt, CEO
of WildEarth and renowned food and synthetic biology investor as a company director.
“COVID-19 has accelerated the importance of rethinking the utilization of resources across our food and
agriculture industries,” Vectr Ventures managing partner Alan Chan said. “The Provectus platform, in
many ways, shows that the solution already exists in nature. By programming microalgae to produce a
diverse spectrum of ingredients and compounds for global partners in a way that is more efficient, clean,
and secure is an enticing proposition that we are excited to get behind.”For more information visit https//:provectusalgae.com
