Carbon dioxide capture fish feed start-up secures €8 million in new round of funding

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Funding will enable first pilot-scale batches of Proton.

On Tuesday, the carbon dioxide recycling company Deep Branch writes that it has completed a EUR 8 million Series A investment round.

Novo Holdings and DSM Venturing are leading round, with participation from Total Carbon Neutrality Ventures and Barclays Sustainable Impact Capital.

Deep Branch, which has been highlighted by the World Economic Forum, is looking to aquaculture as a testbed for protein production whilst also encouraging CO2 capture. The start-up uses microorganisms to convert CO2 into products for animal nutrition.

The Series A financing will enable the completion of Deep Branch’s Scale-Up Hub in the Netherlands, producing the first batches of their feed called Proton with BioMar and AB Agri.

It will also enable the company to inform engineering design work for its first commercial-scale production facility.

CEO Peter Rowe said he was looking to tap into the salmon industry with the new feed.

“We are concluding a mapping exercise to determine the optimal location for our first Proton commercial production facility. Norway’s world-leading position in both the salmon industry and production of low-carbon hydrogen make it ideal from an offtake and input perspective, putting it high on our list. To meet our goal of commercial production by 2023, we have already begun engaging the necessary partners to make this a reality,” said Rowe.