San Matero, California, U.S.A.-based Calysta has announced the completion of a successful USD 39 million (EUR 33.2 million) funding round, led by BP Ventures, that will support the company’s efforts to scale-up production of its FeedKind protein product.
Adisseo, Aqua-Spark, WTI, and other existing investors joined the funding round. Both Adisseo and BP Ventures have made previous investments in the company, with Adisseo forming a joint venture with Calysta in 2020 to develop and promote FeedKind and provide an exclusive supply of the product to Asian markets.
FeedKind is Calysta’s bacteria-based protein meal, which the company plans to use as a replacement for traditional aquafeed protein sources like fishmeal. A recently published study found that FeedKind is an effective replacement for fishmeal in yellowtail feed.
“In expanding FeedKind production beyond the current growth strategy in Asia, we are aiming to continue to convert low-cost natural gas resources into high-value, environmentally-friendly protein alternatives,” Calysta COO Thomas Huot said. “FeedKind makes more from less by utilizing the abundant natural gas resources to produce feed for fish, livestock, and pets, reducing the pressure on our oceans and arable land for non-animal feed production.”
Soon after announcing the successful funding round, the company also announced new appointments to the company’s senior leadership positions. The company appointed Keysha Bailey as its new chief financial officer, and said Rabobank Executive Food and Agribusiness Jacqueline Pieters-Zetsma has joined the company’s board of directors.
Bailey has 20 years of experience in financial and operational leadership, and has previous investment and market experience with J.P. Morgan and Prudential, according to Calysta. Most recently, she was the chief financial officer at Rocketship Education.
“Keysha will be an invaluable asset to Calysta as it gears up the commercial launch of FeedKind, and we’ll no doubt benefit hugely from Jacqueline’s extensive experience in the sustainable food and agriculture sector,” Calysta CEO Alan Shaw said.
Pieters-Zetsma joins the company’s board of directors, joining representatives from Adisseo, BP Ventures, and Aqua-Spark.
“One of the biggest challenges we face is finding a way to feed our growing population in a more sustainable way, and I’m passionate about food and agriculture businesses which aid global food security while protecting mother nature,” Pieters-Zetsma said. “I believe FeedKind protein has an important part to play in enabling us to feed more people using less of our precious natural resources, and I look forward to working with Calysta to help it achieve its vision.”
Calysta’s joint venture with Adisseo, dubbed Calysseo, is currently in the process of building a production facility in Chongqing, China. When completed, the company expects the facility to produce 20,000 metric tons of FeedKind in 2022, with a further 60,000 metric tons as production ramps up.
Photo courtesy of Calysta
