MONTREAL—Inocucor Technologies is looking to set off a second green revolution.
The Canadian agri-tech startup develops biological fertilizers that boost crop yields using a new manufacturing process that combines microbes not usually found together in nature.
Having already commercialized one fertilizer—which targets high-value produce, such as strawberries, tomatoes and broccoli—Inocucor is now pushing into the wider market for high-volume row crops like wheat, soybeans and corn.
The federal government has set aside $2.5 million to support the company’s new initiative, which could reduce the use of pesticides and man-made synthetic fertilizers.
“Pesticide overuse is a growing problem for farmers and consumers,” said Leah Lawrence, president and CEO of Sustainable Development Technology Canada, the arms-length government organization that awarded the funding.
“Inocucor’s natural, non-synthetic alternative improves plant and soil health, increases crop yields and reduces the need for pesticides,” she added.
The government funds will help the Montreal-based company scale up production and marketing for the new fertilizer.
Meanwhile, Inocucor also recently raised $38.8 million in a Series B financing round. To meet growing demand, it plans to double the size of its 10,000 sq. ft. pilot-scale production facility to 20,000 sq. ft., which will allow it to conduct more research and development.