As the global population surpasses 7 billion, the pressing demand for sustainable food production to mitigate the impact of climate change becomes more evident. At the same time, farmers are facing mounting obstacles to meet present needs while safeguarding the potential of future generations to fulfill their requirements. That’s why one agritech startup has stepped in to transform agriculture by supporting farmers in embracing sustainable and regenerative practices that not only benefit the environment but also improve their profitability.
Enter Lucent Biosciences, a Vancouver, Canada-based agritech startup with a mission to provide crop nutrition solutions that not only enhance yields and soil health but also contribute to carbon sequestration.
As part of its effort to expand and commercialize its microplastic-free seed coating technology, Lucent Bio announced today that it has secured a $3.6 million funding boost from PacifiCan through the Business Scale-up and Productivity program.
This fresh capital infusion will enable Lucent Bio to accelerate the advancement of Nutreos, its innovative seed treatment technology. Nutreos stands out as a biodegradable, micro-plastic-free seed coating specially crafted to enhance robust germination, vigor, and crop establishment. This initiative supports the shift from conventional agricultural inputs to sustainable alternatives.
This news comes in the wake of Lucent Bio’s recent opening of the Soileos micronutrient fertilizer plant in Rosetown, Saskatchewan. This development underscores Lucent Bio’s commitment to decarbonizing agriculture by introducing pioneering, eco-friendly, and climate-positive fertilizers into the market.
Founded in 2014 by Michael Riedijk (CEO) and Jason McNamee, Lucent BioSciences helps to accelerate the shift to accelerate the transition of agriculture to sustainability. The company is known for the development of a groundbreaking, patent-pending fertilizer named “Soileos,” utilizing cellulose fiber as a delivery mechanism. The product not only enhances crop yields and soil health but also boasts a climate-positive footprint, being both eco-friendly and sustainable.
Lucent Bio founders announce $3.6M funding with Minister Sajjan and MP Weiler for innovative seed treatment technology.
In a statement, Michael Riedijk, CEO and Founder Lucent BioSciences said: “The Business Scale-up and Productivity program is a game-changer for Lucent Bio, enabling us to scale up and commercialize our groundbreaking, environmentally-friendly seed coating products. With the construction of a new manufacturing plant in BC, we’re not only creating exciting new jobs in the emerging field of agritech but also taking a significant step towards reducing carbon emissions in agriculture. This initiative will enhance food security and climate resilience, making a lasting positive impact on our community and beyond. We’re thrilled to be part of this visionary endeavor that aligns perfectly with our mission to pioneer sustainable agriculture solutions.”
PacifiCan is a federal economic development agency committed to the people of British Columbia. Collaborating with various partners, PacifiCan focuses on fostering innovative businesses, generating high-quality employment opportunities, and promoting inclusive growth across the region of British Columbia.
Commenting on the funding, Harjit S. Sajjan, Minister of Emergency Preparedness and Minister responsible for the Pacific Economic Development Agency of Canada (PacifiCan), said: “The agritech sector in B.C. is growing and leading the way when it comes to innovation in areas such as food processing and soil/crop technology. PacifiCan is committed to working with innovative agritech businesses that are poised for growth – like Lucent Bio. This funding will support Lucent Bio as they increase their marketing capacity and optimize their manufacturing processes, creating quality jobs and helping propel B.C.’s economy forward.”
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- Source: https://techstartups.com/2023/11/07/lucent-bio-raises-3-6m-to-reinvent-crop-nutrition-and-commercialize-its-microplastic-free-seed-coating-technology/
