Quebec bio-fertilizer firm aiming to launch next green revolution gets $2.5M from feds
Inocucor develops microbial fertilizers that improve yields for strawberry and tomato growers. It's now branching out into the market for higher volume crops
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.