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S2G Ventures Backs Kuehnle AgroSystems (KAS) to Revolutionize Natural Astaxanthin Market
Honolulu, Hawaii, U.S.A. - In a groundbreaking move, Kuehnle AgroSystems (KAS) has garnered substantial investment from S2G Ventures as part of its ongoing Series A funding round worth USD 3 million (EUR 2.7 million). S2G Ventures, renowned for its commitment to fostering innovative market solutions, recognizes KAS's potential to reshape the natural astaxanthin landscape, crucial for advancing sustainable aquaculture practices with far-reaching benefits.
According to Larsen Mettler, Managing Director at S2G Ventures, KAS's breakthrough in fermentation technology, coupled with its natural strain development process and sustainable production methodology, holds immense promise for driving positive outcomes for both society and the environment. The investment reflects S2G Ventures' confidence in KAS's capacity to make significant strides in the market.
Established in 2007, KAS boasts patented technologies utilizing dark fermentation in closed vertical tank systems to produce astaxanthin, a vital component in salmonid and shrimp feed, naturally. With a market valued at approximately USD 2.3 billion (EUR 2.1 billion) annually, KAS aims to displace synthetic astaxanthin with its natural algal alternative, offering superior sustainability credentials and production efficiencies.
KAS CEO Claude Kaplan underscores the transformative impact of the latest funding round, emphasizing its role in enabling the company to scale up production of high-quality natural algae astaxanthin more rapidly and affordably. Kaplan anticipates strong consumer preference for natural inputs to accelerate the market transition from synthetic to natural astaxanthin, positioning KAS as a frontrunner in meeting escalating market demands.
In an initial phase, KAS intends to introduce its commercial products through its European-based production partner, with plans for global distribution. While leveraging contract manufacturers in the short term, KAS harbors future aspirations for internal production, underscoring its commitment to sustainability and resource efficiency.
Looking ahead, Kaplan highlights the potential of KAS's technology to further enhance resource efficiency through gas recycling during fermentation, paving the way for fully circular algal products. Notably, previous backers Aqua-Spark, Hatch, and Cavallo Ventures, who participated in KAS's Series A fundraising campaign in April 2022, remain steadfast in their support, recognizing the company's innovative prowess and its pivotal role in revolutionizing the aquaculture industry.
As Lissy Smit, CEO of Aqua-Spark, emphasizes, KAS exemplifies the essence of innovation in addressing core challenges within the aquaculture value chain, thereby contributing to a healthier and more sustainable food system for consumers and the planet.
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