Atierra's Funding Success
Atierra, a company focused on making microalgae bioproduction predictable and cost-efficient to unlock scalable, low-carbon materials, has successfully raised ¥60 million in a pre-seed funding round. The round was led by Lifetime Ventures, with additional investments from Yuli Group and Four Seas (Shinryo No. 1 Investment Business Limited Liability Partnership).
Company Origins and Goals
Originating from the Okinawa Institute of Science and Technology Graduate University (OIST), Atierra is developing technology to produce lipid feedstock for sustainable aviation fuel (SAF) from carbon dioxide using microalgae. The company's founder, Shivani Sathish, is at the helm of this innovative approach, aiming to stabilize the quality and cost of mass production and supply of feedstock oil for SAF.
Strategic Use of Funds
The fresh capital is earmarked for advancing the establishment and validation of Atierra's microalgae bioproduction technology. The company plans to strengthen partnerships with entities involved in the supply and manufacturing of SAF feedstock. Additionally, Atierra intends to enhance its intellectual property strategy and lay the groundwork for pilot deployment.
Industry Context and Challenges
Producing SAF is currently about three times more expensive than conventional jet fuel, with approximately 60% of the cost attributed to raw materials. By increasing the supply of feedstock oil, Atierra aims to help reduce these costs and promote the adoption of SAF, providing a more sustainable option for the aviation industry.
Atierra's efforts represent a significant step forward in the development of environmentally friendly aviation solutions, leveraging innovative technology to address one of the industry's most pressing challenges.