Invest Nebraska announces investment in White Dog Labs
WDL’s premium protein product, ProTyton™, complements ethanol production
LINCOLN, Neb., Nov. 15, 2018 (GLOBE NEWSWIRE) -- Invest Nebraska added to its growing portfolio of high-growth companies with an investment in White Dog Labs, a business focused on producing feed for the aquaculture industry.
“We conducted due diligence on WDL’s technology, products and plans and are extremely optimistic about the company’s potential,” said Dan Hoffman, CEO of Invest Nebraska. “WDL’s entrepreneurship, technology, products, markets and emphasis on sustainability, fit nicely with our profile of high potential companies, and we are excited that they have selected Nebraska for their first plant.”
Invest Nebraska, the state’s public-private venture development organization, was joined by existing WDL investors in this investment.
WDL has developed and scaled up ProTyton, a Single Cell Protein ingredient that exhibits upwards of 85wt% crude protein and over 40wt% essential amino acids. ProTyton fermentation, similar to that of ethanol, is a simple anaerobic process, thus allowing co-location with ethanol plants. First ProTyton production plant is to be co-located with Midwest Renewable Energy ethanol plant in Sutherland, NE.
“Shortages of energy and protein are two key concerns for the ever-growing global population,” said Joe Fox, Director, Business Development Division, Nebraska Department of Economic Development (NDED). “Nebraska is a large corn and ethanol producing state and we are delighted to have the first plant that will complement ethanol production with a premium protein product made from corn.”
“We are certainly pleased with the investment,” said Bryan Tracy, WDL’s CEO, “But even more importantly, we are delighted to be in such a supportive, action-oriented state starting with NDED, extending to state agencies involved in permitting, to the USDA Nebraska office, and concluding with Invest Nebraska.” He added, “We are looking forward to ProTyton’s production start-up in the Sutherland plant in Q4 2019.”
ProTyton is trademark of WDL