Bryan, TX, October 26, 2022 –(PR.com
, the only bio-based ingredients company to pioneer a proprietary upcycling process, today announced that its majority shareholder Ara Partners has committed $65 million in additional capital to support the rapid commercialization of the company’s revolutionary production process for clean-label food and feed ingredients, gut health supplements, and industrial materials. Ara Partners acquired BioVeritas in 2021 and recruited David Austgen, a 35-year veteran of the energy, chemicals, biofuels, and biochemicals industries, as BioVeritas’ CEO.
The company has already started delivering samples for testing to customers and potential partners, including major players in the clean-label ingredients market, from its Market Development Unit (MDU) in Bryan, TX. The new funds raised by BioVeritas will support major upgrades to the MDU, enabling the delivery of larger-scale, food-grade…