FREDERICTON, New Brunswick, Feb. 15, 2022 (GLOBE NEWSWIRE) -- Chinova Bioworks, a Canadian company that addresses the growing consumer demand for healthy, natural, clean-label ingredients, is pleased to announce that Sustainable Development Technology Canada (“SDTC”) has approved a $1.5M contribution to their expansion project.
Chinova Bioworks co-founders Dhayagude and Brown met at an entrepreneurship accelerator and incubator and found a common interest in the science of mushrooms, reducing food waste and sustainable solutions for clean-label ingredients. Since then the founders and team have been working tirelessly to tap into the amazing protective qualities of mushroom extract.
With this SDTC investment Chinova, with the help of partners PEI BioAlliance and DSM, will expand into a new pilot production facility which will allow them to upcycle mushroom waste into a commercially sustainable preservation ingredient that will help to reduce food waste throughout the farm to fork cycle. Chinova’s preservation ingredient, under the trade name Chiber, allows brands to have longer-lasting products so they can provide their consumers with natural, healthy, clean-label products which enables increased food security resulting in reduced food waste. Each kilogram of Chiber sold will reduce emissions equivalent to that of charging 5474 cell phones or driving 182 kilometers in your car.
“Chinova’s main mission is to add value throughout the supply chain. Having access to this funding will allow the company to to transform a very traditional industry creating a more sustainable, transparent food system that is accessible to all, while reducing food waste” Natasha Dhayagude, CEO
About Chinova Bioworks:
Chinova Bioworks is a Canadian company that addresses the growing consumer demand for healthy, natural, clean-label ingredients. Chinova has developed a natural preservative extracted from the stems of white button mushrooms for various food and beverage products. Chinova’s natural, clean-label technology reduces the reliance on artificial ingredients & improves quality, freshness and shelf-life encouraging healthier long-lasting products, increased customer satisfaction, and reduced food waste. The company has raised $10M in investment to date with a team that represents 90% of women in STEM.
For more information, please visit www.chinovabioworks.com
About Sustainable Development Technology Canada (SDTC):
SDTC supports companies attempting to do extraordinary things. From initial funding to educational support and peer learning to market integration, SDTC is invested in helping small and medium-sized businesses grow into successful companies that employ Canadians from coast to coast to coast. The innovations SDTC funds help solve some of the world’s most pressing environmental challenges: climate change, regeneration through the circular economy, and the well-being of humans in their communities and natural environments.
For more information, please visit www.sdtc.ca
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/01704d95-17b0-4578-9241-9f6d3ca22295
Natasha Dhayagude
Email: natashad@chinovabioworks.com
