Nutrinsic Corporation Raises $12.7M To Fuel Growth
Glendale, CO (Marketwired) - Nutrinsic Corporation (www.nutrinsic.com) has completed a $12.7 million capital raise to support continued growth of its sustainable protein business. ProFloc™, a high quality protein ingredient for use in animal nutrition, is produced using patented technology that upcycles nutrients that are currently lost in food and beverage plant wastewater treatment.
The capital round was led by a new investor, Artiman Ventures, and joined by current shareholders IDG Capital, High Country Venture and Maxhill Industries.
"Nutrinsic lowers the treatment cost and improves the effluent quality for food and beverage waste streams while producing a superior, significant and sustainable source of protein for animal feed," said Tim Wilson, Managing Director, Artiman Ventures. "It is rare to see an emerging green technology be commercially viable without government incentives or regulation."
Mark Lupa, Managing Partner, High Country Venture said: "We are proud to have been one of the early investors in Nutrinsic, and happy to have the opportunity to continue to support the Company. This is a validation of the innovative technology and unique business model that will have significant implications for sustainable animal farming in the world."
Nutrinsic is constructing its first U.S. production facility in Trenton, Ohio which is slated to come on-line by year end 2014. A facility in China has been operational for several months and is co-owned by Nutrinsic and other partners in a joint venture.
In making this announcement, Leo Gingras, Chief Executive Officer said: "We are very pleased to have an organization of the caliber of Artiman Ventures join our effort. We also greatly appreciate the continued support and guidance of our current shareholders."
Nutrinsic is a pioneer in providing commercial nutrition solutions through the upcycling of unused nutrients. By recovering nutrients, Nutrinsic helps food and beverage processors deliver clean water to the environment and eliminate the need to dispose of waste. This process creates an environmentally and economically sustainable source of premium protein for animal nutrition. www.nutrinsic.com.
SOURCE: Nutrinsic Inc.