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Terviva – a California-based firm commercializing ingredients from low-input, high-yielding Pongamia trees – has raised $54m in equity capital, with an additional $24m in equity and debt capital to follow this quarter, and announced a collaboration with Danone.
Terviva – a California-based firm commercializing ingredients from low-input, high-yielding Pongamia trees – has raised $54m in equity capital, with an additional $24m in equity and debt capital to follow this quarter, and announced a collaboration with Danone.
Terviva – which aims to have commercial quantities of golden buttery oil available by mid-2022, with ‘highly soluble’ protein isolates to follow in 2023 – will work with Danone and San Francisco based innovation platform MISTA to develop new food products that use oil and protein from Pongamia trees that produce significantly more biomass per acre than soybeans with a fraction of the water, fertilizer, and pesticides, claimed Terviva founder and CEO Naveen Sikka.
Terviva Closes $54M in Financing to Commercialize Sustainable Food Ingredients, Launches Collaboration with Danone prnewswire.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from prnewswire.com Daily Mail and Mail on Sunday newspapers.