VANCOUVER, BC, 23 November 2021 / PRNewswire / – Closure of Lucent BioSciences, Inc. (Lucent) $ 4.2 million in the investments of Emmertech, Amathaon, SVG Ventures, WUTIF Capital, Vantec / eFund and Vancouverangel investors based.
Lucent is motivated by accelerating the transition from agriculture to sustainability. Lucent Bio has developed a new patent pending fertilizer for agriculture that uses cellulose fiber as a delivery agent. The product improves the yield and health of the soil, is carbon neutral, non-polluting and sustainable.
Lucent works with food processors to recycle their low-value cellulose fibers into high-value fertilizer and seed treatment. In addition, the company is working with several large fertilizer companies to develop customized fertilizer solutions based on its patented cellulose-based nutrient delivery technology.
Lucent’s line of micronutrient fertilizers help growers produce heavier, healthier crops, and contribute to regenerative farming practices by improving soil fertility.
The investment allows Lucent to accelerate its development of sustainable fertilizers and seed treatments, expand manufacturing, strengthen marketing and prepare for a Series A investment cycle in 2022 to fund further expansion.
“We are motivated by developing solutions to mitigate the impact of climate on global food security,” says CEO Michael riedijk, “Over the past 18 months, we have achieved key milestones in R&D, scaling engineering, field testing and commercialization. We are now working to increase manufacturing in collaboration with partners and to put the product in the hands of farmers to better develop crops in a sustainable way “.
“Emmertech is delighted to be part of the Lucent team,” says Emmertech CEO Kyle scott, “We are actively researching new technologies that help our agricultural ecosystem to increase yields and reduce waste. Lucent reaches the intersection of the two. Most importantly, we fell in love with the team’s vision of showing that farmers can increase yields while playing a vital role in tackling climate change. We are delighted to see this team bring exciting and sustainable products to market. ”
“The European Green Deal and the associated farm-to-fork strategy of the European Union are putting unprecedented pressure on the agricultural industry and the food supply chain. We are looking for solutions on a global scale that will enable large-scale implementation, while increasing returns on investment for farmers, ”says Borris foerster, Managing Partner at Amathaon Capital. “So for us it was an easy decision to support the extremely dedicated and knowledgeable team behind Lucent and to support their plan to bring highly effective and organic micronutrient fertilizers to the European market. “
About Lucent BioSciences
Lucent BioSciences is a VancouverAgTech start-up based on accelerating the transition from agriculture to sustainability. Lucent Bio has developed a new patent pending agricultural fertilizer called “Soileos” using cellulose fiber as a delivery agent. The product improves soil performance and health, is carbon neutral, non-polluting and sustainable.
Emmertech is an Ag-Tech fund built with an industry-leading approach, with investors being among the from Canada the most innovative farmers, agribusiness owners and agriculture-focused financial institutions. With adequate access to early-stage venture capital, the Canadian agricultural ecosystem can become a world leader in agricultural innovation.
About Amathaon Capital
Founded in 2020, Amathaon is a MunichVenture capitalist based on the companies AgTech and AgBioTech in the start-up phase. Amathaon focuses on sustainable solutions to enable the implementation of the European Green Deal and to address the growing global labor shortage in agriculture. In this way, Amathaon Capital helps the founders shape the most important part of our food production in a sustainable way.
SOURCE Lucent BioSciences Inc.