BP Invests $30 Million in Company That Uses Gas to Make Fish Food
June 27 2019 - 2:49AM
Dow Jones News
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)
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