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Agrovision Achieves $1B Valuation Following Funding Round
The agtech company Agrovision has secured $100 million to enhance its cultivation of jumbo blueberries, aromatic raspberries, seedless table grapes, and other premium fruits.
The funding round was spearheaded by Aliment Capital, with contributions from Oaktree Capital Management and various other investors, positioning the Los Angeles-based Agrovision with a valuation exceeding $1 billion. The firm intends to leverage this capital to explore future crops, develop superfruit varieties, and expand operations to satisfy increasing retailer demand for its brands, Fruitist and Big Skye.
Recently, Agrovision made significant investments in expansion plans, genetic advancements, artificial intelligence, and other proprietary technologies aimed at ensuring consistent fruit quality throughout the year.
“To provide more flavorful superfruits year-round necessitates comprehensive innovation—optimizing at every technology level, from genetics and systems to artificial intelligence,” stated Steve Magami, co-founder and CEO of Agrovision.
Consumers can find Agrovision products in major retailers such as Costco, Trader Joe’s, and Whole Foods across the country.
Darling Ingredients and Valero Prepare to Supply SAF to JetBlue
Diamond Green Diesel, a leading renewable producer globally, is set to deliver sustainable aviation fuel for JetBlue’s commercial flights departing from John F. Kennedy International Airport in the near future.
The collaboration, a joint effort between Darling Ingredients and Valero Energy Corporation, announced that it will supply 1 million gallons of SAF from its Port Arthur, Texas facility, which will be blended with standard jet fuel for JetBlue’s operations.
The 12-month agreement, which includes an option for Diamond to provide an additional 4 million gallons of SAF, is part of a broader strategy to meet the surging interest in sustainable biofuels for aviation, marine, and freight applications.
Diamond anticipates that its SAF processing capabilities will be fully operational by the fourth quarter of 2024, enabling it to convert 50% of its annual production capacity—amounting to 470 million gallons—into SAF, thus establishing it as one of the largest sustainable fuel manufacturers globally.
Startup Secures $21.5M to Convert Crop Residue into Carbon-Capturing Biochar
Applied Carbon, which designs robots for transforming crop waste into biochar, has successfully raised $21.5 million to initiate the deployment of a fleet of automated machines across the southern United States.
This funding round was led by the decarbonization firm To.vc, with notable support from the Grantham Foundation, Microsoft Climate Innovation Fund, and the U.S. Endowment for Forestry and Communities, among others.
Previously known as Climate Robotics, the Houston-based startup utilizes AI-powered robotics to assist the agricultural sector in enhancing soil health and carbon sequestration on a large scale. These machines are engineered to collect post-harvest crop remnants, convert waste into biochar, and return the sustainable product to the fields in a single operation.
According to Jason Aramburu, co-founder and CEO of Applied Carbon, “Biochar has the potential to sequester gigatons of CO2 from the atmosphere annually, generating trillions of dollars in value for farmers worldwide.”
The tractor-trailer system processes biomass in real-time, thereby reducing transportation costs for farmers and eliminating the need for bulk material transport. The recent funding will facilitate the rollout of biochar production machinery across Texas, Oklahoma, Arkansas, and Louisiana.
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Maria Sanchez completed her Bachelor’s degree in Plant Sciences from the University of California, Davis, in the USA. Her studies focused on plant genetics and biotechnology, with an emphasis on developing disease-resistant crop varieties. Maria has contributed to several research projects aimed at improving crop resilience to climate change and is now pursuing her Master’s degree in Plant Breeding.
