Allonnia – the bio-ingenuity company dedicated to extracting value where others see waste – announced that it had raised $30 million in new capital led by Bison Ventures, with participation from IRONGREY, BHP Ventures, Vale Ventures, Wholestack LP and PPNG along with existing investors Battelle, General Atlantic, and Viking Global Investors. This brings Allonnia’s total funding to date to $90 million.
Allonnia will use the funding round to expedite the development of the company’s biotechnology and engineered products through adaptive platforms capable of tackling waste challenges across metals and mining, plastics, and PFAS, plus other emerging contaminants. And these platforms enable Allonnia to discover, augment and accelerate natural solutions to urgent environmental problems through new remediation, upcycling, and valorization techniques. These purposeful solutions have numerous applications across CO2 sequestration, mining sustainability, contaminant remediation, and plastics upcycling.
This funding round will ramp up Allonnia’s transition into the field, specifically related to solving PFAS remediation by accelerating the market entry for separation and concentration and integrating biosensor and biodegradation solutions. And the funding will also be dedicated to increasing mining sustainability across several applications, addressing key challenges like declining high-quality ore and the demand for better ESG performance, along with an overall reduction of CO2 footprint for Allonnia’s customers.
Last year, Allonnia partnered with EPOC Enviro to launch EPOC’s technology in North America. SAFF combines aeration and vacuum to remove ~99% of target PFAS from contaminated water. And Allonnia will soon bring to market additive enhancements to SAFF that will ensure the removal of target long and short-chain compounds to below EPA’s proposed maximum contaminant levels in the majority of waters treated. Additionally, the company discovered of a new protein capable of serving as a PFAS biosensor for near real-time screening of PFAS in water in the field.
This year, Allonnia unveiled a microbe-based solution capable of degrading 99% of the cancer-causing chemical 1,4-dioxane in contaminated groundwater into H2O and CO2 within several weeks, using a naturally occurring microbe. In the coming months and years, Allonnia is set on exploring and commercializing visionary projects like CO2 bio-mineralization, rare earth metal element upcycling, and plastics upcycling.
Based in Boston, Massachusetts, Allonnia has continued to work in the Seaport district. Recently, the company announced hiring its first Chief Commercial Officer, Chuck Price, and a new VP of Business Development for Mining, Dan Stigers, and a new VP of Business Development for Industry, Rob Rappold. In 2023, Allonnia plans to add over 20 new employees to its team, ranging from microbiologists, engineers, and commercial members.
KEY QUOTES:
“Since our launch in 2020, Allonnia has made tremendous progress toward proving that we can bring transformational solutions to our war against waste – commercializing two products in the market and more coming soon. By optimizing nature’s own inventiveness, we are getting closer each day to proving that industrial innovation and environmental responsibility are not mutually exclusive. This raise will help us accelerate and deploy our solutions in industries that need it most.”
— Nicole Richards, Allonnia’s CEO
“Global waste is a massive liability to human and ecological health, and many of today’s solutions are cost inhibitive or ineffective at scale. That’s why we were excited to see how much Allonnia has accomplished in two short years and are bullish on the solutions they are creating to solve key challenges facing our planet and our industry. Biotech and engineering solutions have great potential to move us closer to a waste-free world.”
— Tom Biegala, Founding Partner of Bison Ventures
