US-based Anuvia Plant Nutrients announced that it has secured $65.5 million in financing from Riverstone Holdings LLC and Piva Capital. According to Anuvia, the funding will be used to increase its production capacity at its green manufacturing facility and expand the commercialization of its bio-based fertilizers for large-scale agriculture.
The announcement was made against a particularly special backdrop for the fertilizer market: The United States Department of Agriculture (USDA) recently announced US $250 million in support of "innovative fertilizers" manufactured in North America, underscoring the intention to reduce reliance on traditional, internationally sourced fertilizers.
Anuvia is dedicated to the manufacture of highly efficient and sustainable fertilizers ready for agricultural use in the field, turf and lawn care industries. The company develops and utilizes technology focused on optimizing nutrient availability and efficiency for plants. It also develops methods to improve soil conditions.
The company recently completed the expansion of its Plant City, Florida facility, which has the capacity to expand to 1.2 million tons per year, enough to serve more than 20 million acres of agricultural crops to meet the growing demand for sustainable products.
