Advanced BioNutrition Corp Announces $7.75 Million Financing Lead by The Sea Change Investment Fund.COLUMBIA, Md. -- Advanced BioNutrition Corp. (ABN), a leader in providing the aquaculture aquaculture, the raising and harvesting of fresh- and saltwater plants and animals. The most economically important form of aquaculture is fish farming, an industry that accounts for an ever increasing share of world fisheries production. industry with science-based solutions to improve animal health and nutrition, increase product safety, and ensure environmental sustainability, has announced a new investment round securing $7.75 Million. This Series C round was lead by the Sea Change Investment Fund, a San Francisco-based fund that focuses on investments in the sustainable seafood Sustainability is a characteristic of a process or state that can be maintained at a certain level indefinitely. Sustainable seafood refers to seafood that is caught or farmed in a way that does not impact the long-term health or functionality of the species in question or the market. It also included existing investors Sherbooke Capital L.L.C., Emerald Technology Ventures (formerly SAM Equity Partners, Ltd.), BASF BASF Bar Association of San Francisco (since 1872; San Francisco, California) BASF Badische Anilin und Soda Fabrik (German chemical products company) BASF Builders Association of South Florida Venture Capital GmbH, and Arancia Industrial SA de CV, as well as two new private investors. "We are pleased with the continued support of our existing investors and the addition of three new investors, giving the Company the resources with which to accomplish its mission of leadership in the sustainable aquaculture arena," said William F. Kirk, CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. and Chairman of the Board. Dr. David Kyle, President and Chief Scientific Officer of ABN, added, "The inclusion of the Sea Change Investment Fund to our family of investors provides the Company with an important strategic partner in the ongoing development of our sustainable alternatives for the replacement of fishmeal fish·meal n. A nutritive mealy substance produced from fish or fish parts and used as animal feed and fertilizer. fishmeal Noun ground dried fish used as feed for farm animals or as a fertilizer and fish oil in the aquaculture industry." "ABN has developed an alternative to fish meal and fish oil with significant long-term economic and environmental advantages. We believe ABN will help the global aquaculture industry profitably reduce its dependence on wild forage fisheries," said Jason Winship, Managing Principal of the Sea Change Investment Fund. The Company will use the new capital to accelerate its sales and marketing initiatives in support of its new AquaGrow([R]) product lines based on a sustainable algae-based form of the long chain polyunsaturated fatty acid Noun 1. polyunsaturated fatty acid - an unsaturated fatty acid whose carbon chain has more than one double or triple valence bond per molecule; found chiefly in fish and corn and soybean oil and safflower oil - docosahexaenoic acid docosahexaenoic acid /do·co·sa·hexa·eno·ic ac·id/ (do-ko?sah-hek?sah-e-no´ik) an omega-3, polyunsaturated, 22-carbon fatty acid found almost exclusively in fish and marine animal oils. (DHA DHA docosahexaenoic acid. DHA, n.pr See acid, docosahexaenoic. ). As a single ingredient, or in combination with other key essential fatty acids Essential fatty acids Sources of fat in the diet, including omega-3 and omega-6 fatty acids. Mentioned in: Nutritional Supplements , the AquaGrow([R]) products have been shown to completely replace the need for fishmeal and fish oil when added to other sustainable protein sources for the cultivation of shrimp and certain fin fish. The Company also plans to further broaden the product line into other areas of aquaculture feeds to meet the needs of consumers worldwide who desire farmed seafood products to be produced in a sustainable fashion. About ABN Advanced BioNutrition is a leader in developing technology to improve animal health and functional nutrition in the aquaculture area. The company is headquartered in Columbia, MD. www.abn-corp.com. About the Sea Change Fund The Sea Change Investment Fund L.L.C. invests in seafood-related companies, which meet strict sustainability and financial criteria. Through its investments, the Fund intends to generate conservation benefits to improve the health of fisheries and the marine environment, as well as compelling financial returns for its investors. Sea Change offices are located in San Francisco, CA. www.seachangefund.com. |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion