NovoNutrients Secures Project Funding Plus $9M in Equity
Happiness Capital leads round for food and feed company
NovoNutrients, an alternative proteins company that uses industrial carbon dioxide emissions, cheap hydrogen and naturally occurring microbes to create high-grade proteins for human and animal consumption, announced a $4.7 million raise led by Hong Kong-based global venture firm, Happiness Capital.
NovoNutrients previously raised $4.3 million in venture backing, as well as a multiple of that in non-dilutive, corporate project funding commitments. NovoNutrients will use the project funding to complete its industrial pilot program, which captures CO2 emissions, at an oil and gas and/or cement-related plant. Those projects position NovoNutrients to start raising a series A financing later this year.