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NovoNutrients sign $3 million agreement to scale its alt-protein technology

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NovoNutrients, who produce alt-protein from CO2 for use as an aquafeed ingredient, has signed a $3 million tech development agreement with global energy company, Woodside Energy.

David Tze, CEO of NovoNutrients

By turning CO2 into protein, NovoNutrients is addressing the global need to reduce carbon emissions while also tackling the world's need for protein © NovoNutrients

NovoNutrients’ technology – which converts industrial CO2 emissions into high-quality protein supplements for people, animals and farmed fish – has been operating at a lab-scale.

However, this tech development agreement with Woodside Energy ­– under which Woodside would contribute up to $3 million to the startup, subject to the completion of certain milestones by NovoNutrients – supports the construction and operation of a larger pilot-scale system.

The larger pilot-scale plant will seek to both advance the design of commercial-scale plants and deliver increased sample product volume for further validation by NovoNutrients' strategic partners.

"Our agreement with Woodside means, together, we can deliver meaningful carbon benefits sooner, while also tackling the world's need for protein," said David Tze, CEO of NovoNutrients, in a press release.

The collaboration between the alt-protein startup and the global energy company is aligned with Woodside Energy’s view of carbon capture and utilisation (CCU) as an emerging field offering alternative lower-carbon solutions.