Superfruit supplier Agrovision gets $1B valuation after funding round
Agtech firm Agrovision has raised $100 million for its farms growing jumbo blueberries, fragrant raspberries, seedless table grapes and other premium fruits.
The funding round, led by Aliment Capital with participation from Oaktree Capital Management and other investors, values the Los Angeles-based company at more than $1 billion. Agrovision plans to use the funding to invest in future crops, superfruit varieties and scale operations to meet growing retailer demand for its brands Fruitist and Big Skye.
Agrovision recently undertook heavy investments into expansion, genetics, artificial intelligence and other proprietary technologies meant to ensure consistent fruit quality year-round.
“Delivering more flavorful superfruit year-round requires full stack innovation – optimizing across every layer of technology – from genetics and systems to AI,” Steve Magami, co-founder and CEO of Agrovision, said in a statement.
Products can be found at Costco, Trader Joe’s, Whole Foods and other grocers nationwide.
Darling, Valero to supply SAF for commercial JetBlue flights
Diamond Green Diesel, one of the largest renewable producers in the world, will provide sustainable aviation fuel for JetBlue commercial air travel out of John F. Kennedy International Airport in the coming months.
Diamond, a joint venture between Darling Ingredients and Valero Energy Corporation, said Wednesday it will supply 1 million gallons of SAF from a facility in Port Arthur, Texas, to be blended with conventional jet fuel for JetBlue.
As part of the 12-month deal between Valero and World Fuel Services, there is an option for Diamond to supply an additional 4 million gallons of SAF for blending.
As interest in sustainable biofuels for maritime-, air- and freight-use grows, renewables producers have raced to get operations on line and secure their spot on top.
Diamond is expecting SAF processing to be ready at its Port Arthur plant in the fourth quarter 2024. The facility will be able to upgrade 50% of its annual production capacity totaling 470 million gallons to SAF, Diamond said, making it one of the largest sustainable fuel manufacturers in the world.
Startup raises $21.5M to turn crop waste into carbon-capturing biochar
Applied Carbon, which designs robots that convert crop waste into biochar, said it raised $21.5 million that will be used to deploy a fleet of automated machines across the U.S. South.
The funding round was led by decarbonization fund To.vc, with participation from Grantham Foundation, Microsoft Climate Innovation Fund and U.S. Endowment for Forestry and Communities, among others.
The Houston-based startup, formerly known as Climate Robotics, produces robotics powered by artificial intelligence that support agriculture industry efforts to increase soil health and sequester carbon at scale. The machines are designed to pick up crop residue post-harvest, convert the waste into biochar and deposit the sustainable product back onto the field in a single pass.
Biochar has the potential to remove gigatons of carbon dioxide from the atmosphere each year, while creating trillions of dollars in value for farmers around the world, Jason Aramburu, co-founder and CEO of Applied Carbon, said in a statement.
The tractor-trailer system processes the biomass in real-time, eliminating bulk material transport and reducing costs for farmers. According to a release, the recent funding will be used to deploy a fleet of biochar machines across Texas, Oklahoma, Arkansas and Louisiana.