Probiotic Holdings Announces $9 Million USD in Financing Year to Date
KANSAS CITY, Mo., June 17, 2019 /PRNewswire/ -- Probiotic Holdings, LLC and its subsidiaries Proviera Biotech, LLC and SCD Probiotics, leading global developers of bio-based products that improve human, animal, plant and environmental health, announced closing an additional $6 million investment. This includes UMB Bank providing a credit facility and AltCap providing financing through the use of federal New Markets Tax Credits that were purchased by U.S. Bank to facilitate debt financing. The latest round of financing brings the total to $9.3 million since January 2019.
"Through strategic capital and industry partnerships over two decades in business, Probiotic Holdings has developed a broad range of cost-effective bio-based products," said Probiotic Holdings CEO Matt Wood. "Our cutting-edge technology enables us to produce fermentation products from renewable resources that ultimately perform better and are healthier for people and the planet than traditional petrochemicals."
The funds will be used to support and expand Probiotic Holdings' 44,000-square-foot fermentation manufacturing and research and development laboratories; strengthen its technology platform; and enable the continued global commercialization of its organic, bio-based biochemicals and microbial products.
"We're excited to continue working with Probiotic Holdings during this period of significant growth and technological advances," said Drew McCart, UMB Bank commercial officer. "From opening its first commercial checking account in the '90s to this exciting project, we've been privileged to partner with Matt Wood and Probiotic Holdings as they develop and progress their products to positively impact the environment and make the world a better place."
Probiotic Holdings leverages its innovative and creative technologies, using non-toxic microorganisms and their fermented derivatives, to develop and provide sustainable solutions for consumer, agriculture and industrial applications. These natural and organic probiotic-based products and biochemicals are able to replace synthetic, petroleum-based chemicals with safer processes that use fewer resources.
Using its proprietary consortia fermentation technology platform, Probiotic Holdings is harnessing the power of nature to work in a variety of environments. Its subsidiaries and joint ventures include:
- SCD Probiotics, a subsidiary that develops and markets probiotics and biochemical applications. SCD has developed an international network of manufacturers and distributors for its base Mother Culture and a broad portfolio of proprietary products.
- Proviera Biotech, a subsidiary that supplies sustainable biochemicals to the leather tannery industry worldwide. These organic, biodegradable products are designed to replace traditional petrochemicals at a competitive cost with a lower carbon footprint.
- Biojuvant, a division of SCD Probiotics that creates innovative, microbial-based products to enhance soil, animal and plant health to improve quality, yields and feed conversions, while reducing reliance on chemicals and antibiotics.
- Counter Culture, a joint venture that uses beneficial bacteria and the bio-detergents they create to clean like nature intended. Its probiotic products clean surfaces, eliminate odors and work to balance the bacteria in homes.
For more information, visit www.probioticholdings.com.
About Probiotic Holdings
Based in Kansas City, Mo., Probiotic Holdings, through its subsidiaries, joint ventures and strategic partnerships, develops and deploys all-natural probiotic and biochemical products. With more than 50 products across 15 industrial and consumer sectors in 33 countries, Probiotic Holdings has proven commercial success licensing its proprietary technology internationally. Probiotic Holdings was founded in 2004, to advance and develop the breakthrough technology patented by SCD Probiotics, now a wholly-owned subsidiary operating company of Probiotic Holdings. SCD Probiotics has invested in the research and development of beneficial bacteria and the biochemicals it produces since 1998.
Contact: Elizabeth McKinley Tuttle, ecMT Consulting, 816-282-2943, [email protected]
SOURCE Probiotic Holdings
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