Wed. Nov 30th, 2022

Anuvia Secures $65.5 Million from Piva Capital and Riverstone To Scale U.S. Production of Sustainable Fertilizer

AgTech Start Up’s Unique Field-Ready Bio-based Fertilizer Increases Commercial Crop Yield, Reduces Greenhouse Gases by Up to 32%

WINTER GARDEN, Fla., April 25, 2022 /PRNewswire/ — Anuvia™ Plant Nutrients today announced it has raised $65.5 million in Series D funding co-led by Riverstone Holdings LLC and Piva Capital. Anuvia will use the financing to increase production capacity at its U.S.-based eco-friendly manufacturing facility and expand commercialization of its SymTRX™ XP line of field-ready bio-based fertilizers for large-scale agriculture. Also joining the Series D round are Morgan Stanley Investment Management, LK Advisers Limited (Mittal Family Office), along with existing investor Pontifax Global Food and Agriculture Technology Fund.

The funding announcement comes at a time when the U.S. Department of Agriculture (USDA) has pledged $250 million to support “innovative American-made fertilizers,” underscoring the need to reduce dependence on traditional fertilizers sourced internationally.

“With consumers, regulators, and the public pushing for more sustainable food production methods, Anuvia is focused on rapidly increasing manufacturing capacity of our field-ready bio-based plant nutrient system,” said Amy Yoder, CEO, Anuvia Plant Nutrients. “Anuvia’s production is entirely U.S. based, ensuring supply-chain security for North American growers.”

Recently, Anuvia completed the expansion of its facility in Plant City, Florida. The facility has the capacity to expand to 1.2 million tons per year, enough to service over 20 million acres of agricultural crops and meet the growing demand for sustainable products. This production facility represents a novel, sustainable approach to repurposing and extending the useful life of idled fertilizer manufacturing facilities. Its manufacturing forms a closed loop in which no waste stream is created—only clean air and finished product. For every ton of organic material used, approximately a ton of fertilizer is produced.

“We believe Anuvia occupies a unique niche in the fertilizer value chain by delivering a sustainable product that decarbonizes existing on-farm practices while improving yields at attractive ROIs for row crop growers,” said Cynthia Kueppers, Managing Director at Riverstone Holdings LLC. “Through its waste-to-value production process and reduced reliance on traditional nutrition derived from fossil fuels, Anuvia is positioned to become a key player in transitioning the industry to more sustainable growing practices.”

According to an environmental audit conducted by Environmental Resources Management [ERM], Anuvia’s impact is substantial: for every million acres of crops that use Anuvia’s products, the reduction of greenhouse gases is the equivalent of removing up to 30,000 cars from the roads.

“The world’s agriculture market is facing unprecedented times,” said Mark Gudiksen, Managing Partner at Piva Capital. “From shortages in food production due to rising energy prices coupled with the recent dramatic fall off in supply availability of fertilizer, there has never been a greater need for sustainable bio-based fertilizers like Anuvia’s. The company not only has the ability to scale world-class manufacturing capacity that can help farmers produce crops that reduce greenhouse gasses, but it can also do so at a scale and speed that will help address the challenges facing global fertilizer supply.”

In addition, Anuvia announced that Lynn White, Founder and Managing Director of the Twemlow Group, will become Chairman of Anuvia’s Board of Directors. New board members include Cynthia Kueppers, Managing Director, Riverstone Holdings LLC and Mark Gudiksen, Managing Partner, Piva Capital. Stepping down from the board are Rich Mack and Bill Buckner.

About Anuvia  Anuvia Plant Nutrients manufactures high-efficiency, sustainable field-ready fertilizers for the agriculture, turf, and lawncare industries. Located in Winter Garden, Florida, the company developed and uses a unique technology that not only optimizes nutrient availability and efficiency for plants, but also improves soil health, preserves natural resources, and reduces greenhouse gas emissions. Anuvia was recently recognized by the Financial Times as one of the Americas’ fastest growing companies for the second consecutive year. Anuvia is committed to offering easily adoptable, profitable, and sustainable solutions to customers, their communities, and global agriculture. To learn more about Anuvia Plant Nutrients – GreenTRX for Turf and Lawn, SymTRX for Agriculture – visit www.anuviaplantnutrients.com.

About Piva Capital  Piva Capital is a San Francisco-based venture capital firm investing in visionary entrepreneurs who are solving the world’s critical industrial challenges with breakthrough technologies and innovative business models. For more information, please visit us at Piva.vc, on LinkedIn and Medium.

About Riverstone
Founded in 2000 by David Leuschen and Pierre Lapeyre, Riverstone Holdings LLC is an asset management firm that invests in the private markets primarily within energy, power, infrastructure and decarbonization. Since inception, Riverstone has raised over $43bn of capital to invest across the capital structure and in all major components of our industry’s value chain. Riverstone’s low carbon investment franchise has invested more than $6.6bn in the renewable infrastructure and decarbonization categories since its inception in 2006. Within the last two year alone, Riverstone has raised more than $3bn for over a dozen transactions involving differentiated companies that are decarbonizing critical industries. Visit www.riverstonellc.com

SOURCE https://www.prnewswire.com/news-releases/anuvia-secures-65-5-million-from-piva-capital-and-riverstone-to-scale-us-production-of-sustainable-fertilizer-301531335.html

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