CoverCress, successfully building a future for their business
CoverCress has successfully raised $5 million to help grow their business. CoverCress is producing a low carbon intensity crop developed from pennycress. The company also works to produce oilseed crop for food, bioenergy and animal feed.
In a recent statement, Jerry Steiner, CEO of CoverCress, expressed the interest from different companies.
“We have had significant interest from companies investigating our potential to produce and scale this low carbon intensive oil for bio and renewable diesel markets, as well as companies seeking more non-GM protein meal sources,” said Steiner.
The investment round was led by Fulcrum Global Capital of Shawnee, Kansas, and Hermann Cos. of Clayton. Other investors included Prelude Ventures, Leaps by Bayer, the St. Louis Arch Angels, Prolog Ventures and some CoverCress founders and employees.
CoverCress is located in the 39 North Agtech Innovation District at the Helix Busines Center. The company plans to commercialize its new oilseed crop in the fall of 2021.
“The point of creating an Agtech Innovation District like 39 North is to elevate, encourage and grow businesses like Covercress in their earliest beginnings,” said Janet Wilding, Vice President of Major Projects at the St. Louis Economic Development Partnership. “Funding such as this is the mark of success for any innovation district committed to entrepreneurs. Congratulations Covercress!”
For more information about CoverCress, visit their website here.
