BP Invests $30 Million in Company That Uses Gas to Make Fish Food

Date : 06/27/2019 @ 7:49AM
Source : Dow Jones News
Stock : BP P.L.C. (BP)
Quote : 40.21  -0.48 (-1.18%) @ 1:00AM

BP Invests $30 Million in Company That Uses Gas to Make Fish Food

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By Oliver Griffin

 

BP PLC (BP.LN) said Thursday that it has invested $30 million in Calysta Inc., a California-based biotechnology company, which will use natural gas to produce protein for fish, livestock and pet feeds.

The London-listed oil-and-gas giant said Calysta will use its natural gas to produce the protein and that the investment supports BP's strategy to create new markets in which gas can help create a more sustainable future.

BP said the global aquaculture market is expected to grow 25% by 2025. Calysta's gas-fermentation technology creates FeedKind protein, which it is hoped will meet the growing demand for feed in aquaculture and wider agriculture markets.

The process will help combat overfishing, BP said. To date, BP has invested more than $500 million in technology companies through BP Ventures, the company said.

 

Write to Oliver Griffin at oliver.griffin@dowjones.com; @OliGGriffin

 

(END) Dow Jones Newswires

June 27, 2019 02:34 ET (06:34 GMT)

Copyright (c) 2019 Dow Jones & Company, Inc.

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