In the United States (US), sustainable nitrogen solutions start-up Kula Bio Inc. has recently announced that it has closed a US$50 million Series A funding round. The funding will be used to increase production capacity as well as further technology innovation of Kula Bio’s technology.
Founded in 2018, Kula Bio produces Kula-N, a next-generation, sustainable nitrogen biofertilizer that helps farmers maintain yield, improve soil quality and significantly reduce carbon emissions and other environmental impacts associated with traditional, synthetic nitrogen fertilizers.
According to the company, synthetic nitrogen fertilizer accounts for over 5 percent of the world’s greenhouse gasses (GHGs) each year.
Demand for Kula-N is on the rise as, across the United States, farmers must deal with increasing pressure on atmospheric emission and nitrogen runoff from traditional, synthetic nitrogen fertilizers.
The company has proven its product is crop agnostic and can replace a meaningful amount of a farm’s use of traditional nitrogen fertilizers, and trials across geographies and soil types have enabled farmers to seamlessly transition to sustainable nitrogen.
Replace Haber-Bosch
The company’s technology stores energy in a naturally occurring microbe that fixes nitrogen from the air to the soil. It is patent-protected and derived from peer-reviewed research performed at Harvard University.
The round was led by Lowercarbon Capital and includes Collaborative Fund, Grantham Environmental Trust’s Neglected Climate Opportunities Fund, iSelect Fund, Pillar VC, Embark Ventures, and BOPU.
The funding will be used to increase production capacity as well as further technology innovation of Kula Bio’s technology.
Kula Bio’s drop-in replacement for synthetic fertilizer costs less, yields more, and zeroes out nitrogen runoff. We’re speeding up their growth to turn the lights out at Haber-Bosch plants, said Clay Dumas, founding Partner at Lowercarbon Capital.
