Grassa raises € 2 million for its innovative biorefinery process
Grassa has raised € 2 million in a series A financing round led by Brightlands Venture Partners. Co-investors are LIOF, compound feed company Fransen Gerrits and current shareholders. With the funding, Grassa will further scale up its innovative biorefinery process and commercialize the product output. In addition, the company established a strategic partnership with compound feed company Fransen Gerrits for market introduction of selected products.
Grassa, founded in 2014, has developed a new, efficient biorefinery technology to process grass and vegetable waste. The process results in four products: roughage cattle feed, protein concentrate, fructooligosaccharides (a prebiotic) and mineral concentrate. The first three products will be used in animal feed. The fourth product is a plant-based organic fertilizer. All these products are non-GMO, fully natural and from local sources.
The growing world population needs more feed, food and energy. Therefore, it is necessary to eliminate inefficiencies in raw materials usage and closing loops. Grassa aims to play a role in this circular economy by refining grass and vegetable waste streams. By separating components, animals can be fed more precisely and efficiently. As a result, farmers produce more animal protein with less input and with less mineral excess in the manure.
With the funding, Grassa will further scale up its innovative biorefinery process and commercialize the product output. The partnering with compound feed company Fransen Gerrits will support Grassa in the introduction of products into the market of feed for dairy, pigs and rabbits that Fransen Gerrits is active in.
“The partnerships with Fransen Gerrits, Brightlands Venture Partners and LIOF will further enable us to realize our plans and accelerate our growth. As an industrial shareholder Fransen Gerrits will enhance the exposure of our products in the compound feed market”, says Peter van Paridon, CEO of Grassa. “We especially look forward to co-develop and execute our market development strategy in selected animal feed applications with Fransen Gerrits as well as to roll out our products to other players in the compound feed industry.”
“The Grassa proposition has potential to significantly impact global food and feed challenges. In the coming year, further technical and market validation will be crucial to bring the company to the next level. We are confident that the support of Fransen Gerrits and the Brightlands ecosystem will add value for the success of Grassa” says Kim de Boer, Fund Manager of the Brightlands Agrifood Fund.
Tys van Elk, Director of LIOF: “With LIOF’s Limburg Business Development Fonds (LBDF) we granted a so-called ‘proof of concept’ loan in 2018 in order to facilitate Grassa’s final product development. This has been an important step in proving the added value of Grassa’s business concept and it has attracted new investors. It Is LIOF’s ambition to support innovative companies in Limburg in all stages of their development”.
Grassa, located at the Brightlands Campus Greenport Venlo, was founded in 2014 based on biorefining technology originally started in several previous projects, now ready for scale-up and market introduction.
Fransen Gerrits is a family owned feed company, founded in 1897. It produces feed for dairy, pigs and rabbits and supports farmers to successfully operate their farms in a sustainable way. In this support to farmers problem solving and Innovation are very Important. In that perspective the partnership with Grassa fits perfectly.
Brightlands Venture Partners
Brightlands Venture Partners (BVP) is the fund manager of Brightlands Agrifood Fund and is a so-called ecosystem investor. BVP invests in companies benefiting from and contributing to the Brightlands campuses in the south of the Netherlands. Funds under management are Limburg Ventures, Chemelot Ventures and Brightlands Agrifood Fund.
LIOF is the development and investment agency of the Dutch province of Limburg. Its primary objective is to develop and promote the Limburg economy. For this purpose, LIOF makes available venture capital, supports innovative projects of small and medium-sized enterprises (SMEs) and attracts foreign investors.