Continuing its investment thesis in CO2 utilization, CM Venture Capital has invested in a silicon-valley based startup, Novonutrients, that turns CO2 and green hydrogen into single cell protein (SCP). Novenutrient’s SCP contains > 70% protein and is better than beef in Protein Digestibility-Corrected Amino Acid Score (PDCAAS). The global animal feed market size was estimated at USD 570.72 billion in 2022, The Asia Pacific region dominated the market in 2022 with a highest revenue share of 37.6% in 2022.
China is by far the world’s top buyer of soybeans, bringing in around 100 million tonnes a year to turn into protein-rich feed for its huge livestock sector. Protein from carbon dioxide can be a breakthrough that could help reduce the country’s reliance on huge volumes of imported soybeans. After investing, CM Venture Capital plans to help Novonutrients to work with partners in China to commercialize and scale up production in China.
Commenting on the investment, Dr. Min Zhou, Managing Partner of CM Venture Capital, commented: “there are several aspects we like about Novonutrients – we like that it offers a novel use of CO2, it is also a novel use of hydrogen; we also like that the product is a single-cell protein which is the simplest (most affordable) form of synbio; we also like that it addresses a huge market that is still growing. It’s a double win, a perfect combination of environmental benefits and alternative protein.”
Dr. Min Zhou will join the board of directors of Novonutrients.
