Anuvia Plant Nutrients Monday announced it has raised $65.5 million in Series D funding to increase production capacity at its U.S.-based eco-friendly manufacturing facility. The funding will also expand commercialization of its line of field-ready bio-based fertilizers for large-scale agriculture.
The funding announcement comes at a time when the Department of Agriculture has pledged $250 million to support “innovative American-made fertilizers,” underscoring the need to reduce dependence on traditional fertilizers sourced internationally.
Anuvia CEO Amy Yoder says, “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.
According to an environmental audit, 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.
(Story Courtesy of the NAFB News Service)