Phospholutions Raises $10.15M to Accelerate Commercialization of Higher Efficiency Fertilizers
Phospholutions Inc., a pioneer in sustainable fertilizer technology, has announced an additional $10.15M investment from leading global fertilizer companies and investors to accelerate the commercialization of RhizoSorb® in the US row crop market. The financing was led by Advantage Capital and includes continued investment from Conti Ventures (a division of Continental Grain Company), Tekfen Ventures, Maumee Ventures, and Ben Franklin Technology Partners. Keytrade, a global fertilizer trader, also joins as a new investor.
RhizoSorb® is the only patented technology incorporated upstream into the production process for conventional phosphates that reliably reduces phosphorus applications by up to 50%, maintaining yield and improving retail margins while providing a cost savings benefit to the farmer. RhizoSorb® is proven to deliver the same amount of phosphorus to the plant with half the amount of applied fertilizer. The company launched RhizoSorb® 8-39-0 in the U.S. row crop market this past spring and has added 3 new Regional Managers and a Director of Agronomy to support sales to ag retailers in North America.
Advantage Capital Invests $3.35 Million in Vibrant Corporation to Facilitate Expansion, Increase Production
Advantage Capital, a leading impact investing firm, today announced a $3.35 million investment in Vibrant Corporation, a non-destructive testing (NDT) technology company. Advantage Capital led the round, with several pre-existing Vibrant shareholders also participating. The company will leverage this funding to expand its workforce and increase production.
Founded in 2006 in Albuquerque, New Mexico, Vibrant is a leader in the NDT space, developing the most commercially viable approach for Process Compensated Resonance Testing (PCRT) – a method of vibrating objects to test their integrity, which was initially developed at Los Alamos Laboratory.