In a bold move that could revolutionize the war on waste, Allonnia, the pioneering biotechnology company dedicated to turning waste into value, announced today that it has successfully garnered $30 million in a fresh round of funding. New and returning investors, including Battelle, General Atlantic, and Viking Global, have put their faith and finances behind Allonnia, bringing the total funding to an impressive $90 million.
Allonnia, hailing from the bustling Seaport district of Boston, Massachusetts, has earned its reputation through an innovative approach to waste management, leveraging biotechnology and engineered products to address waste challenges. These efforts span numerous sectors, such as metals and mining, plastics, and PFAS, as well as other emerging contaminants.
"We have been making great strides since our 2020 launch, and we are excited to be able to bring transformational solutions to the challenge of waste," said Nicole Richards, CEO of Allonnia. "Our commitment to harnessing nature's own ingenuity is getting us closer each day to proving that industrial innovation and environmental responsibility are not mutually exclusive. This new influx of funds will help us to expand and implement our solutions in industries that need it most."
The fresh funding is slated to hasten Allonnia's transition from research and development to the field, particularly in tackling PFAS remediation. This will involve accelerating the entry of separation and concentration solutions to the market, integrating biosensor and biodegradation technologies, and enhancing sustainability in the mining sector. Among the critical challenges addressed are the decline in high-quality ore, the demand for improved ESG performance, and a significant reduction in the CO2 footprint of Allonnia's clientele.
In 2022, Allonnia partnered with EPOC Enviro to introduce the Surface Active Foam Fractionation® (SAFF®) technology to North America. The SAFF technology, which combines aeration and vacuum techniques, can remove roughly 99% of target PFAS from contaminated water. Allonnia also recently announced the discovery of a protein that could serve as a PFAS biosensor for near real-time PFAS screening in water.
Additionally, Allonnia has revealed 1,4 D-Stroy, a microbial solution capable of eliminating 99% of the carcinogenic chemical 1,4-dioxane in contaminated groundwater, converting it into H2O and CO2 within weeks. Future exploratory and commercializing efforts will focus on CO2 bio-mineralization, upcycling of rare earth metal elements, and plastics.
A significant part of Allonnia's expansion plan includes augmenting its team. With the recent hiring of Chief Commercial Officer Chuck Price, VP of Business Development for Mining Dan Stigers, and VP of Business Development for Industry Rob Rappold, the company plans to further increase its staff by over 20 members in 2023. These additions will range from microbiologists and engineers to commercial personnel, further reinforcing Allonnia's commitment to innovative solutions for a cleaner, more sustainable world.