Provectus Algae announced that it received a strategic investment from CJ BIO, a leading sustainable biotechnology and biomanufacturing company. With this investment, Provectus Algae can accelerate its efforts to commercialize its carbon-capturing microbe technology and use proprietary technologies to program microalgae to produce valuable biochemicals. In addition, the undisclosed funding from CJ BIO will also help Provectus gain access to the expertise and experience of CJ BIO.
The partnership between CJ BIO and Provectus Algae will reinforce sustainability through photosynthesis-based carbon-neutral technology. Provectus Algae aims to make photosynthetic bioprocesses familiar across the life science sector for economic advantages and natural carbon capture capabilities. The investment from CJ BIO will help Provectus Algae achieve this goal and expand its biomaterials portfolio.
CJ BIO has a long history of providing sustainable specialty nutrition and health solutions. The company owns the largest share of the global lysine, tryptophan, nucleic acid, valine, and soy protein concentrate markets and is continuously innovating and expanding its offerings. The company’s biodegradable, bio-based polyester, PHACT, is an excellent example of its commitment to sustainable biotechnologies.
Nusqe Spanton, Founder and CEO of Provectus Algae, expressed enthusiasm about the partnership with CJ BIO, saying that the company’s experience in providing sustainable solutions in specialty nutrition and health would be a tremendous asset the future. Yunil Hwang, CEO of the BIO Business Unit of CJ CheilJedang, stated that the partnership would expand CJ CheilJedang’s portfolio of innovative biomaterials and reinforce sustainability through photosynthesis-based carbon-neutral technology.