2030 Finance | April 14, 2017

Agrisoma Biosciences raises $15.4 million for plant-based jet fuel

The team at


Climate Finance

Biofuels cut particle emissions from jets by 50 to 70 percent, reducing damaging contrails, according to a new report from NASA. But there’s a market shortage of about 30 billion gallons.

Quebec-based Agrisoma has raised $15.4 million to ramp up commercial production of carinata, a mustard oilseed used in bio-jetfuel and animal feed.

The funding, committed by Canadian investment firm Groupe Lune Rouge and clean tech investors Cycle Capital Management and BDC Venture Capital, will expand Agrisoma’s South American operations.

Agrisoma wants food crops to be phased out of biofuel production; the company’s varieties of carinata grow in regions and weather conditions unsuited for food crops.

Separately, researchers at Egypt’s National Research Center have produced a bio jetfuel from jatropha plants grown with sewage water. Commercialization of jatropha has a mixed history.

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Photo credit: Agrisoma