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Pivot Bio raises $430 million to replace synthetic fertilizers in agriculture
Story Date: 9/2/2021
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Source: AGRIBUSINESS GLOBAL, 7/19/21
Pivot Bio, the leading nitrogen innovator in agriculture, has announced the close of a $430 million Series D funding led by DCVC and Temasek, bringing the total equity raised to more than $600 million. The funding will fuel the company’s accelerating release of disruptive products focused on replacing the $60 billion of synthetic nitrogen fertilizer sold each year just to sustain corn, wheat, and rice. Synthetic nitrogen fertilizer supports the demands of today’s global food system. But it is inefficient, expensive for farmers, contributes to seven percent of global greenhouse gas emissions, depletes soils, and harms water supplies and fisheries – synthetic nitrogen is no longer a viable solution for farmers and food security.
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