CertusBio Secures $4.6M for Global Expansion and Sustainable Food Processing
Christchurch based CertusBio has successfully raised $4.6 million in an investment round led by Pacific Channel, paving the way for the company’s global expansion. Currently focused on the dairy market, including a recent trial with Fonterra, CertusBio’s innovative biosensor technology aims to improve production efficiencies and reduce the cost of treating wastewater.
Focus on Dairy and Wastewater Treatment
CertusBio’s technology, which is currently being trialled in the dairy sector, offers significant benefits for food producers. The biosensor technology:
Improves production efficiencies
Reduces the cost of treating wastewater
Helps to monitor production losses in real-time
Significant Investment Round
Chief executive Matthew Jones highlighted the importance of this investment round, which follows an earlier raise of $1.5 million. This new funding round included significant contributions from:
Lincoln Agritech (the original founders of the technology)
Impact Enterprise Fund
NZ Growth Capital Partners through its Aspire NZ Seed Fund
A group of existing investors
“This investment provides CertusBio with a significant opportunity to expand into North America, establishing a strong presence and driving global sales of our technology.”
Expansion Plans
With the new funds, CertusBio plans to:
Appoint a US-based executive to establish a presence in North America
Partner with US-based process technology company Relco
Start a trial integration of its automated system into the Valley Queen Cheese plant in South Dakota
Partnership with Relco
The partnership with Relco will support CertusBio in trialling its innovative technology. CertusBio’s ‘lab on a chip’ technology continuously monitors production losses during processing, allowing for real-time adjustments to improve plant efficiency and increase commercial returns. The process analyser is roughly the size of a fridge and is integrated directly into the food processing line, detecting bacteria and other loss-inducing elements.
Environmental Impact
Jones emphasised the environmental benefits of CertusBio’s technology, stating, “Commercial food processing facilities that use water during processing typically lose at least 5% of their product. These losses are not only inefficient and costly but also harmful to our environment if not managed properly.”
Fonterra Trial
Although details of the Fonterra trial remain confidential for commercial reasons, Jones confirmed that the system successfully monitored and detected lactose losses in a commercial processing environment, a vital proof of concept before further expansion.
Competing with Laboratory Testing
CertusBio’s technology offers a competitive edge over traditional offsite laboratory testing, which can delay results by a day or more. The real-time monitoring capability of CertusBio’s technology allows for immediate adjustments, enhancing overall efficiency.
“Our investment recognises the full productisation achieved by CertusBio and the scalability of the technology across various process industries including chemical, oil & gas, mining, pulp & paper, and wastewater treatment. We’re thrilled to be investing in this breakthrough technology and be part of CertusBio’s global expansion.”
Impact Enterprise Fund Involvement
The Impact Enterprise Fund played a crucial role in this investment round. As one of the key investors, the Fund’s involvement underscores the commitment to sustainable development and impactful investments. By supporting CertusBio, the Impact Enterprise Fund helps drive innovation in food processing, contributing to environmental sustainability and economic growth.
Ownership and Future Investments
Current ownership of CertusBio includes:
Lincoln Agritech: 24.91%
Powerhouse Ventures: 19.1%
Harley Investment Fund: 14.81%
Pacific Channel: 14.75%
Aspire NZ Seed Fund: 4.21%
Pacific Channel will invest $3 million of the $4.6 million raised in stages, increasing its holding to 41.8% within two years.
CertusBio’s innovative biosensor technology is set to revolutionise the food processing industry, improving efficiency and reducing environmental impact. With strong support from key investors, including the Impact Enterprise Fund, the company is well-positioned for global expansion and continued success.
Source
This article is based on information from NBR.co.nz.