News Manure
Millions for startup with fertilizer replacement
Startup Pivot Bio, which originated at the University of California, wants to (partly) replace fertilizer with another nitrogen source. Today (Monday, July 19), the company announced that it has raised $430 million in its latest investment round.
The investment round was led by Silicon Valley venture capitalist DCVC and Temasek Holdings of Singapore. Total funding from Pivot Bio is $600 million and the company is valued at $2 billion. These are serious amounts that express a great deal of confidence from investors in the new technology. But what has the company developed?
Natural Organisms
Pivot Bio markets microbes that absorb nitrogen (N2) from the air and convert it into ammonium (NH4+) that can be absorbed by the plant. These organisms are already naturally present in the soil, but are hardly exploited by the use of fertilizers. Through research and computer calculations, the suitable microbes are identified and applied as fertilizer.
The micro-organisms are sprayed in the row next to the seed during sowing and grow along with the cultivated crop during the season. They enter into a partnership with the roots of the plant, as it were. Currently, the company, which operates primarily in the US, can supply corn and wheat preparations.
Always enough nitrogen
The big advantage of the microbes, according to Pivot Bio, is that the microbes release nitrogen to the crop throughout the growing season, eliminating the need for multiple passes with the fertilizer spreader or sprayer. Also, nothing washes out and no nitrogen evaporates. According to the company itself, the product is already used on millions of acres in the US and this year the acreage has quadrupled from last year. The company does not disclose exact figures.
Jurphaas Lugtenburg
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