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Azotic Raises Significant Funding to Accelerate Commercialization of Sustainable Nitrogen Solutions in Agriculture
Funding focused on rapid commercialization into Asian markets, new product development and production capacity
Raleigh, NC, July 14, 2021
Azotic Technologies Ltd (Azotic) and Virya LLC (Virya) announced today an agreement to fund rapid global expansion of the Azotic sustainable nitrogen solutions business model. Azotic produces EnvitaTM and N-Fix® which lead the biofertility category as the only nitrogen fixing bacteria that works across multiple crops from within plant cells to fix nitrogen from the air. This technology allows farmers around the world to sustainably manage their nitrogen fertility program while not compromising productivity.
“The investment from Virya allows us to support the exponential growth we are experiencing in the USA and Canada as well as accelerate commercial opportunities in Asia, increase production capacity and enhance formulation development,” explains Ray Chyc, CEO of Azotic, “Our technology provides the balance between productivity and sustainability that agriculture needs and aligns to the purposeful investment strategy of Virya.”
Applied in a liquid formulation as an in-furrow or foliar application, Envita and N-Fix allow farmers to reduce synthetic nitrogen fertilizer use 25-50% while maintaining yield or to apply to existing fertility programs to boost yields. Dry formulations and seed treatment options are the next innovations in the product development pipeline of this patent-protected technology.
“We are excited about the great potential for Azotic to reduce the carbon footprint of agriculture through solutions that are profitable for farmers,” said Chris Anderson, the lead investor in Virya.
Rapid expansion and hiring begin immediately and run parallel to a global partnership strategy that seeks licensees and master distributors in key markets around the globe.
About Azotic:
Azotic was formed to introduce sustainable nitrogen-fixing technology to farmers across the globe. With North American offices in Raleigh, North Carolina, Guelph, Ontario and a global office in Nottingham, UK, Azotic has taken more than 20 years of academic research and created the leading, commercially available nitrogen-fixation product in the world. Finally, there is no compromise between high yield production agriculture and nitrogen sustainability.
About Virya:
Virya invests nimbly in ventures with high potential impact on eliminating global greenhouse gas emissions or sequestering CO2. They are focused on fast global commercialization of baseload clean energy sources needed for the carbon-free energy transition. Virya is a project of Chris Anderson, who also coordinates TED and the Countdown climate change initiative, and Solomon Goldstein-Rose, a young climate activist, former state legislator, and author of The 100% Solution.
