NovoNutrients signs technology development agreement with Woodside Energy
NovoNutrients has announced the signing of a technology development agreement under which Woodside Energy would contribute up to US$3 million to NovoNutrients, subject to the completion of certain milestones by NovoNutrients.
NovoNutrients' technology converts industrial CO2 emissions into high-quality protein, with the potential to abate greenhouse gas emissions and contribute to the world's food and feed supply. The collaboration with NovoNutrients is aligned with Woodside's view of carbon capture and utilization (CCU) as an emerging field offering alternative lower-carbon solutions.
NovoNutrients' technology has been operating at a lab-scale. This agreement supports the construction and operation of a larger pilot-scale system. The pilot-scale system will seek to both advance the design of commercial-scale plants and deliver increased sample product volume for further validation by NovoNutrients' strategic partners, including Woodside.
"Our agreement with Woodside means, together, we can deliver meaningful carbon benefits sooner, while also tackling the world's need for protein," said David Tze, CEO of NovoNutrients, who wrote an article in the April/May 2023 edition of Protein Production Technology International, explaining how the company's technology works as well as revealing its potential in a future food system.
If you have any questions or would like to get in touch with us, please email firstname.lastname@example.org