BOSTON
,
July 13, 2023
(press release)
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Allonnia, the bio-ingenuity company dedicated to extracting value where others see waste, today announced that it has raised $30 million in new capital led by Bison Ventures, with participation from IRONGREY, BHP Ventures, Vale Ventures, Wholestack LP and PPNG along with existing investors Battelle, General Atlantic and Viking Global Investors. This brings Allonnia’s total funding to date to $90M. Allonnia will use the funding to expedite development of the company’s biotechnology and engineered products through adaptive platforms capable of tackling waste challenges across metals and mining, plastics and PFAS, plus other emerging contaminants. These platforms enable Allonnia to discover, augment and accelerate natural solutions to urgent environmental problems through new remediation, upcycling and valorization techniques. These purposeful solutions have numerous applications across CO2 sequestration, mining sustainability, contaminant remediation, and plastics upcycling. “Since our launch in 2020, Allonnia has made tremendous progress toward proving that we can bring transformational solutions to our war against waste – commercializing two products in the market and more coming soon,” said Nicole Richards, Allonnia’s CEO. “By optimizing nature’s own inventiveness, we are getting closer each day to proving that industrial innovation and environmental responsibility are not mutually exclusive. This raise will help us accelerate and deploy our solutions in industries that need it most.” Today’s raise will ramp up Allonnia’s transition into the field, specifically related to solving PFAS remediation by accelerating the market entry for separation and concentration, along with integrating biosensor and biodegradation solutions. The raise will also be dedicated to increasing mining sustainability across a number of applications, addressing key challenges like declining high-quality ore and the demand for better ESG performance along with an overall reduction of CO2 footprint for Allonnia’s customers. “Global waste is a massive liability to human and ecological health, and many of today’s solutions are cost inhibitive or ineffective at scale,” said Tom Biegala, Founding Partner of Bison Ventures. “That’s why we were excited to see how much Allonnia has accomplished in two short years and are bullish on the solutions they are creating to solve key challenges facing our planet and our industry. Biotech and engineering solutions have great potential to move us closer to a waste-free world.” In 2022, Allonnia formed a partnership with EPOC Enviro to launch EPOC’s Surface Active Foam Fractionation® (SAFF®) technology in North America. SAFF combines aeration and vacuum to remove ~99% of target PFAS from contaminated water. Allonnia will soon bring to market additive enhancements to SAFF that will ensure removal of target long and short chain compounds to below EPA’s proposed maximum contaminant levels in the majority of waters treated. Additionally, the company announced the discovery of a new protein capable of serving as a PFAS biosensor for near real-time screening of PFAS in water in the field. This year, Allonnia unveiled 1,4 D-Stroy, a microbe-based solution capable of degrading 99% of the cancer-causing chemical 1,4-dioxane in contaminated groundwater into H2O and CO2 within the span of several weeks, using a naturally occuring microbe. In the coming months and years, Allonnia has its sights set on exploring and commercializing visionary projects like CO2 bio-mineralization, rare earth metal element upcycling, and plastics upcycling. Headquartered in Boston, Massachusetts, Allonnia has continued to expand its physical presence in the Seaport district. Recently, the company announced the hiring of its first Chief Commercial Officer, Chuck Price, and a new VP of Business Development for Mining, Dan Stigers, and a new VP of Business Development for Industry, Rob Rappold. In 2023, Allonnia plans to add over 20 new employees to its team, ranging from microbiologists, engineers and commercial members.
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