Small logo Subscribe to leading news on impact investing. Learn More
The Brief Originals Dealflow Signals The Impact Alpha Impact Voices Podcasts Agents of Impact Open
What's Next Capital on the Frontier Measure Better Investing in Racial Equity Beyond Trade-offs Impact en las Americas New Revivalists
Local and Inclusive Climate Finance Catalytic Capital Frontier Finance Best Practices Geographies
Slack Agent of Impact Calls Events Contribute
The Archive ImpactSpace The Accelerator Selection Tool Network Map
About Us FAQ Calendar Pricing and Payment Policy Privacy Policy Terms of Service Agreement Contact Us
Locavesting Entrepreneurship Gender Smart Return on Inclusion Good Jobs Creative economy Opportunity Zones Investing in place Housing New Schooled Well Being People on the Move Faith and investing Inclusive Fintech
Clean Energy Farmer Finance Soil Wealth Conservation Finance Financing Fish
Innovative Finance
Personal Finance Impact Management
Africa Asia Europe Latin America Middle East Oceania/Australia China Canada India United Kingdom United States
Subscribe
Features
Series
Themes
Community
Data
Subscribe Log In
More

TerViva raises $20 million to expand production of high-protein legumes



ImpactAlpha, March 28 – California-based TerViva is giving a bitter legume a market while, giving farmers an income opportunity for low-quality and fallow land. The company has raised $20 million in Series D funding from The Jeremy and Hannelore Grantham Environmental Trust, a group of agricultural family offices including Evans Properties, and existing investors Elemental Excelerator, the Yield Lab, Astia Angels, and Allotrope Ventures.

TerViva partners with farmers to cultivate pongamia trees, a type of high protein legume-producing tree most commonly found in Asia and Australia. The company then buys back the crop and processes it for consumption, as a cooking oil and a high-protein animal feed.

The pods from pongamia trees haven’t been popular for consumption, due to their bitter taste, AgFunderNews reports. The company’s plant removes some of the bitter taste compounds during processing. Pongamia is also a highly resilient plant, able to grow in nutrient poor soils and with thick roots that can withstand extreme weather conditions.

TerViva has 150,000 trees under contract with farmers in Florida, and expects to have 200,000 more trees in the state in the next 24 months. Farmers are contracted to grow the crop on abandoned agricultural land. The company has been targeting citrus farmers in the state, who were hard hit by Hurricane Irma in 2017 and who may be vulnerable to climate change. TerViva is also eyeing partnerships with farmers in Hawaii.

You might also like...