Provectus Algae, an Australian biotech company that optimises microalgae to produce a whole new range of natural products, in a process described as “Precision Photosynthesis™”, today announces a $3.25 million Seed round led by Hong Kong’s Vectr Ventures, and the appointment of Ryan Bethencourt as a director.
The Provectus Algae technology, based in a biotech foundry in Queensland, Australia, autonomously programs the algae using a combination of proprietary lighting, robotics and predictive intelligence to produce what it calls the world’s most valuable speciality ingredients. Through its experimentation, the team is able to quickly learn the perfect environment each species requires to produce high-quality ingredients for a range of industries.
As part of the next phase of growth, the company has appointed Ryan Bethencourt, vegan investor, CEO of WildEarth and founder of the newly launched Sustainable Food Ventures, as a company director.
“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,” says Nusqe Spanton, CEO and Founder. “We are extremely excited to welcome this stellar group of investors aboard our journey to assist us in making this happen”
“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,” said Mr. Spanton. In just a few short months, the company has secured its first commercial partnership with a global food & beverage ingredients supplier, focusing on producing algae-derived natural flavourings, fragrances and colourants.