Gas fermentation company to shutter after raising US$18 million in 2024.
Sunnyvale, Calif.-based NovoNutrients will undergo an asset sale to pay off its creditors, according to former CEO David Tze. The company struggled to secure the funds necessary to continue scaling up its technology, which makes protein from carbon dioxide and hydrogen.
“The technology works. We were proving that in our pilot phase. The challenge was capital intensity in…