REG - Riverstone Energy Ld - REL Co-Leads Anuvia's $65.5M Series D Round

Riverstone EnergyAnnouncement

06/05/2022 07:00

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RNS Number : 5349K  Riverstone Energy Limited  06 May 2022

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REL Press Release - Anuvia

 

REL Co-Leads Anuvia's $65.5M Series D Round

6 May 2022 - Riverstone Energy Limited is pleased to announce a $20 million
investment in Anuvia™ Plant Nutrients' $65.5 million in Series D funding.
REL co-led the round with associated Riverstone Entities and Piva Capital,
which contributed $4 million and $10 million, respectively. Anuvia will use
the financing to increase production capacity at its U.S.-based eco-friendly
manufacturing facility and expand commercialisation of its SymTRX™ XP line
of field-ready bio-based fertilizers for large-scale agriculture. Also joining
the Series D round are Morgan Stanley Investment Management, LK Advisers
Limited (Mittal Family Office), along with existing investor Pontifax Global
Food and Agriculture Technology Fund.

The funding announcement comes at a time when the U.S. Department of
Agriculture (USDA) has pledged $250 million to support "innovative
American-made fertilisers," underscoring the need to reduce dependence on
traditional fertilisers sourced internationally.

"With consumers, regulators, and the public pushing for more sustainable food
production methods, Anuvia is focused on rapidly increasing manufacturing
capacity of our field-ready bio-based plant nutrient system," said Amy Yoder,
CEO, Anuvia Plant Nutrients. "Anuvia's production is entirely U.S. based,
ensuring supply-chain security for North American growers."

Recently, Anuvia completed the expansion of its facility in Plant City,
Florida. The facility has the capacity to expand to 1.2 million tons per year,
enough to service over 20 million acres of agricultural crops and meet the
growing demand for sustainable products. This production facility represents a
novel, sustainable approach to repurposing and extending the useful life of
idled fertiliser manufacturing facilities. Its manufacturing forms a closed
loop in which no waste stream is created-only clean air and finished product.
For every ton of organic material used, approximately a ton of fertilizer is
produced.

"We believe Anuvia occupies a unique niche in the fertiliser value chain by
delivering a sustainable product that decarbonises existing on-farm practices
while improving yields at attractive ROIs for row crop growers," said Cynthia
Kueppers, Managing Director at Riverstone Holdings LLC. "Through its
waste-to-value production process and reduced reliance on traditional
nutrition derived from fossil fuels, Anuvia is positioned to become a key
player in transitioning the industry to more sustainable growing practices."

According to an environmental audit conducted by Environmental Resources
Management  ERM , Anuvia's impact is substantial: for every million acres of
crops that use Anuvia's products, the reduction of greenhouse gases is the
equivalent of removing up to 30,000 cars from the roads.

This investment, along with the recent decarbonisation investments in T-REX
Group, Infinitum Electric Motors, and Tritium Pty, among others, demonstrates
REL's continued efforts to increase its exposure to the global energy
transition thematic while also providing the opportunity to create value for
its shareholders.

About Anuvia:

Anuvia Plant Nutrients manufactures high-efficiency, sustainable field-ready
fertilisers for the agriculture, turf, and lawncare industries. Located in
Winter Garden, Florida, the company developed and uses a unique technology
that not only optimises nutrient availability and efficiency for plants, but
also improves soil health, preserves natural resources, and reduces greenhouse
gas emissions. Founded in 2008 and first commercialised in 2014, Anuvia was
recently recognised by the Financial Times as one of the Americas' fastest
growing companies for the second consecutive year. Anuvia is committed to
offering easily adoptable, profitable, and sustainable solutions to customers,
their communities, and global agriculture. To learn more about Anuvia Plant
Nutrients - GreenTRX for Turf and Lawn, SymTRX for Agriculture - visit
www.anuviaplantnutrients.com (http://www.anuviaplantnutrients.com) .

About Riverstone Energy Limited:

REL is a closed-ended investment company that has since 2020 been exclusively
focussed on pursuing and has committed $185 million to a global strategy
across decarbonisation sectors presented by Riverstone's investment platform.
REL's ordinary shares are listed on the London Stock Exchange, trading under
the symbol RSE.  REL has 18 active investments spanning decarbonisation, oil
and gas, renewable energy and power in the Continental U.S., Western
Canada, Gulf of Mexico and Europe.

About Piva Capital:

Piva Capital is a San Francisco-based venture capital firm investing in
visionary entrepreneurs who are solving the world's critical industrial
challenges with breakthrough technologies and innovative business models. For
more information, visit Piva.vc (https://piva.vc/) .

 

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