The investment supports BP’s strategy of creating new markets in which gas can play a material role in delivering a more sustainable future and establishing a strategic relationship between BP and California-based start-up Calysta around gas and power supply.
Calysta’s proprietary gas fermentation technology produces FeedKind® protein, a sustainable feedstock that can be used for fish, livestock and pet nutritional products. The innovative process has the potential to help meet the growing demand for feed in the aquaculture and wider agriculture markets without some of the environmental impacts of current sourcing methods.
The global aquaculture market is expected to grow up to 25% by 2025. The process will help combat overfishing in response to the projected growth. FeedKind® protein can be a sustainable substitute for other protein sources currently used – such as fishmeal and soy protein concentrate.
Dominic Emery, BP’s group head of strategy, said: “By pairing Calysta’s exciting technology and entrepreneurial drive with BP’s global scale and gas market expertise, this partnership offers the opportunity to improve food security and sustainability for the world’s growing population.”
Alan Shaw Ph.D., CEO and president of Calysta, added: “Welcoming BP as a partner is a tremendous step forward for FeedKind® protein and the best indicator yet that Calysta’s solution to food insecurity in a resource-constrained world can and will achieve global scale.
“We look forward to working closely with BP as we prepare to deliver this product to the world, and Calysta will benefit from BP’s operational excellence and focus on safety when deploying multiple production plants.”
During the FeedKind process, a naturally occurring bacteria is grown in a proprietary fermenter using methane as its carbon and energy source. This creates a single cell protein that is harvested and dried prior to being pelletised. The natural fermentation process is similar to the production of yeast for bread. Calysta’s micro-organisms are a naturally occurring component of healthy soils worldwide. FeedKind has no impact on the flavor or texture profile of seafood or animals fed FeedKind.
BP’s investment will enable Calysta to expand production of its FeedKind® protein and support its ambition for a global rollout. FeedKind® protein is already being produced from the company’s Market Introduction Facility (MIF) in Teesside, England to support market development activities with leading animal nutrition companies around the world.
To date, BP has invested more than $500 million in technology companies across more than 50 entities through BP Ventures. Venturing plays a key role in BP’s strategy to tackle the dual challenge of meeting the world’s need for more energy, while at the same time reducing carbon emissions.
Meghan Sharp, managing director, BP Ventures, added: “We are really excited to be working with the team at Calysta, bringing them into the BP Ventures family as we seek new commercial opportunities for our gas business. Their technology complements our core business while providing opportunities for sustainable products for tomorrow.”
About BP Ventures
- BP Ventures was set up more than 10 years ago to identify and invest in private, high growth, game-changing technology companies, accelerating innovation across the entire energy spectrum. Since then, BP has invested over $500 million in technology companies across more than 50 entities with more than 300 co-investors.
- BP Ventures focuses on connecting and growing new energy businesses, focused on advanced mobility, low carbon and digital, and our core upstream, downstream and alternative energy businesses.
- David Hayes, senior principal, BP Ventures, will be taking up a director seat on the board of Calysta.
- Calysta, Menlo Park, CA, is an innovator in sustainable products to improve worldwide food security. Calysta develops and commercializes FeedKind® protein, an alternative feed ingredient for fish, livestock and pet nutritional products. Calysta®, FeedKind® Biological Gas-to-Feed™ are trademarks of Calysta, Inc.
- The projected growth of the global aquaculture market is based on the assumption that the current market size (40 million tonnes per year), is expected to increase to between 55 million and 65 million tonnes by 2025.
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