NovoNutrients to Reshape $2.3B Carotenoids Market with Innovative Carbon Capture Technology

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Mar 27, 2023, 12:44 ET

Tackling Climate Change and Protein Supply Challenges

SUNNYVALE, Calif., March 27, 2023 /PRNewswire/ -- NovoNutrients, a leader in sustainable protein solutions, announced an innovation in carotenoid production technology today. The company's general carbon capture process upcycles approximately two tons of carbon dioxide for every ton of protein-rich ingredient. By utilizing carbon dioxide and renewable energy through gas fermentation, this biomanufacturing platform offers advantages of cost savings, scalability, and sustainability over conventional production, contributing to a greener future enriched by the vibrant hues of carotenoids. It enables the sale of natural carotenoids at synthetic price levels, positioning NovoNutrients to be a major player in the global carotenoids market, projected to be worth USD 2.3 billion by 2027, according to Expert Market Research.

NovoNutrients' innovative technology offers a competitive advantage by producing high-quality natural carotenoids to sell near synthetic price levels. Carotenoids function as antioxidants and are natural pigments found primarily in plants and marine organisms, creating bright colors, like the orange in carrots or the red in tomatoes. Specific carotenoids offer additional palatability and other benefits to humans, dogs, cats, and fish, contributing to good vision, immune system function, and overall health. Natural carotenoids are the most potent, and such Astaxanthin is valued at over $7000 per kilogram pure; it is considered more biologically active and bioavailable compared to its synthetic petrochemical counterpart. Synthetic Astaxanthin typically sells for around $2000 per kilogram.

After successfully producing carotenoids at a 1% weight percentage and in kilogram quantities, NovoNutrients is starting to scale up production to metric ton quantities. "Before we get to the opportunities for people, our nutritional proteins enhanced with carotenoids can be blended into feeds for dogs, cats, egg-laying hens, salmon, shrimp, koi, and other ornamental and aquaculture fish," said Jo Ritter, CTO of NovoNutrients. "Our custom strains and process conditions enable us to fine-tune the production of specific carotenoids. Having the same natural structure as those found in organisms like krill, our carotenoids can alleviate concerns over the impact of overfishing crustaceans in the Antarctic ecosystem." Aquaculture efficacy studies are in the pipeline.

NovoNutrients' base nutritional protein that undergirds the additives is a product in and of itself, with crude protein levels exceeding 80%, amino acid profiles better than beef, and high levels of B-complex vitamins. NovoNutrients' synthetic biology platform is also poised to transform a series of markets beyond carotenoids, which "represents just one example among the moderate-value protein and high-value biochemical categories we're targeting. Our platform technology seamlessly combines the production of traditionally expensive additives with making our high-quality, cost-effective, and eco-friendly protein," said Kedar Patel, NovoNutrients' SVP of biology.

About NovoNutrients: By turning CO2 into various protein ingredient products, NovoNutrients is tackling the world's urgent need to reduce carbon emissions and its fast-expanding hunger for high-quality protein. The company continues its march to commercial scale worldwide, in concert with carbon, hydrogen, and nutrition partners. Oakbio Inc. is doing business as NovoNutrients.

Media contact: David Tze, CEO, [email protected], 415-236-2455

SOURCE NovoNutrients