PE Tech Report

NEWSLETTER

Like this article?

Sign up to our free newsletter

Ara Partners commits additional $65m to BioVeritas

Ara Partner, the majority shareholder in bio-based ingredients firm BioVeritas, has committed $65 million in additional capital to support the rapid commercialisation of the company’s production process for clean-label food and feed ingredients, gut health supplements, and industrial materials. 

Ara Partners acquired BioVeritas in 2021 and recruited David Austgen, a 35-year veteran of the energy, chemicals, biofuels, and biochemicals industries, as BioVeritas’ CEO.
 
The company has already started delivering samples for testing to customers and potential partners, including major players in the clean-label ingredients market, from its Market Development Unit (MDU) in Bryan, TX. The new funds raised by BioVeritas will support major upgrades to the MDU, enabling the delivery of larger-scale, food-grade samples to customers and partners by Q1 2023, and development of the company’s first commercial scale production facility. Engineering for that facility is underway. The first commercial facility is expected to have production capacity of up to 20 kilotons per year and will commence production in 2025.
  
BioVeritas’ solutions are produced via the company’s proprietary process that upcycles underutilised and excess biomass from the food and agricultural industries into short- and medium-chain fatty acids through a self-regulating natural ecosystem of microorganisms. This ecosystem mimics what occurs in the human and animal gastrointestinal tracts. BioVeritas then recovers these organic acids in the greenest manner possible without the use of any harsh or toxic solvents. BioVeritas’ process is a virtual closed loop, making it one of the most natural and clean ingredient solutions available to the market.
 

Like this article? Sign up to our free newsletter

MOST POPULAR

FURTHER READING

Featured

Blackstone Private Equity