April 26, 2022

By Lynda Kiernan-Stone, Global AgInvesting Media

Riverstone Holdings and Piva Capital have co-led a $65.5 million Series D for Anuvia Plant Nutrients (Anuvia) in support of commercialization of the company’s SymTRX™ XP line of field-ready bio-based fertilizers for large-scale agriculture.

Also participating in the round were Morgan Stanley Investment Management, LK Advisers – the Mittal Family Office, and existing investor Pontifax Global Food and Agriculture Technology Fund. 

Located in Winter Garden, Florida, Anuvia has developed and employs a novel technology that optimizes nutrient availability and efficiency for plants, while also improving soil health, preserves natural resources, and reduces greenhouse gas emissions.

Using organic materials as a base and employing a patented system with a natural binding mechanism, Anuvia creates homogenous products without the use of artificial polymers or coatings. This method allows the company to create products that increase crop yields and improve soil health while also addressing social, environmental, and economic sustainability issues.

This ability not only identifies with consumers’ demand for greater sustainability throughout their food supply chains, it also helps farmers be more competitive in a rapidly evolving landscape.

“With consumers, regulators, and the public pushing for more sustainable food production methods, Anuvia is focused on rapidly increasing manufacturing capacity of our field-ready bio-based plant nutrient system,” said Amy Yoder, CEO, Anuvia Plant Nutrients. “Anuvia’s production is entirely U.S. based, ensuring supply-chain security for North American growers.”

The fact that Anuvia’s supply chain is entirely U.S.-based is a key point here. Last year, Russia was the world’s top supplier of both potassic and phosphorous fertilizers, according to the UN Food and Agriculture Organization (FAO). And as the war in Ukraine rages on, trade with Russia has ground to a halt, cutting out Russian fertilizer exports that account for approximately 14 percent of total global supply, creating a ripple effect throughout global markets. 

This funding announcement is happening at the same time that the U.S. Department of Agriculture (USDA) announced its pledge of $250 million to support “innovative American-made fertilizers”, in recognition of the need to ease dependence on foreign suppliers. 

“Recent supply chain disruptions from the global pandemic to Putin’s unprovoked war against Ukraine have shown just how important it is to invest in this crucial link in the agricultural supply chain here at home,” said U.S. Agriculture Secretary Tom Vilsack.  

“In addition to the jobs,” continued Vilsack, “lower costs and more reliable supply, increased investment in the domestic fertilizer industry will help address climate change by reducing the greenhouse gas emissions associated with transportation, while also fostering more sustainable production methods and more precise application.”

Anuvia recently completed an expansion of its eco-friendly manufacturing facility in Plant City, Florida. The facility now has a capacity of up to 1.2 million tons per year, or enough to service more than 20 million acres of agricultural crops.

Using a closed loop production system that creates zero waste – only clean air and a final product – this facility also represents a unique, sustainable approach to repurposing and extending the life of idled fertilizer plants to create a system where for every ton of organic material used, approximately a ton of fertilizer is produced.

The impact of such a system is significant. An environmental audit conducted by Environmental Resources Management (ERM) found that for every mill acres of crops that use Anuvia’s fertilizers, the result is the equivalent of removing up to 30,000 cars from the road. 

“We believe Anuvia occupies a unique niche in the fertilizer value chain by delivering a sustainable product that decarbonizes existing on-farm practices while improving yields at attractive ROIs for row crop growers,” said Cynthia Kueppers, managing director, Riverstone Holdings LLC.

“Through its waste-to-value production process and reduced reliance on traditional nutrition derived from fossil fuels,” continued Kueppers, “Anuvia is positioned to become a key player in transitioning the industry to more sustainable growing practices.”

In addition to closing on this Series D, Anuvia also announced the appointment of Lynn White, founder and managing director of Twemlow Group, as chairman of its Board of Directors. Other new board members include Cynthia Kueppers, managing director, Riverstone Holdings; and Mark Gudiksen, managing partner, Piva Capital, as Rich Mack and Bill Buckner step down.

“The world’s agriculture market is facing unprecedented times,” said Mark Gudiksen, managing partner, Piva Capital. “From shortages in food production due to rising energy prices coupled with the recent dramatic fall off in supply availability of fertilizer, there has never been a greater need for sustainable bio-based fertilizers like Anuvia’s.”

“The company not only has the ability to scale world-class manufacturing capacity that can help farmers produce crops that reduce greenhouse gasses,” concluded Gudiksen, “but it can also do so at a scale and speed that will help address the challenges facing global fertilizer supply.”

~ Lynda Kiernan-Stone is editor with GAI Media, and is managing editor and daily contributor for Global AgInvesting’s AgInvesting Weekly News and  Agtech Intel News, as well as HighQuest Group’s Unconventional Ag. She can be reached at lkiernan-stone@globalaginvesting.com.

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