Climate Insider Brief:
- Elicit Plant leverages phytosterols to enhance crop resilience against climate stress, focusing on corn, sunflower, cereals, and soy in key markets like France, Brazil, Eastern Europe, and the U.S., where it recently obtained Marketing Authorization for its first commercial corn product.
- The company’s strategy emphasizes accelerating market expansion across Europe, Brazil, and the U.S., forging partnerships with industry leaders like Bayer and BASF, and driving innovation through R&D to expand its portfolio of bio-based solutions.
- An oversubscribed funding round led by Carbyne Equity Partners and supported by Sofinnova Partners and ECBF bolsters Elicit Plant’s goal to strengthen its market presence and establish global industry leadership by 2028, reflecting strong investor confidence in its sustainable agriculture solutions.
PRESS RELEASE – November 27, 2024 – Agri-Biotech Innovation in Response to the Climate Crisis.
As global agricultural yields face increasing threats from frequent and extreme climate events, Elicit Plant delivers innovative solutions that leverage the unique properties of phytosterols to enhance plant health in the face of environmental stress. Since 2022, Elicit Plant’s products have become well-established in France and strategic markets like Brazil and Eastern Europe, focusing on corn, sunflower, cereals, and soy. In addition, the company obtained Marketing Authorization in the US to launch its first commercial product for Corn.
The company’s current strategy is essentially based on three pillars:
- Accelerate commercial development in key markets Europe, Brazil, and U.S.A.
- Expand strategic partnerships with major agri-input players, as initiated with Bayer, BASF and Certis Belchim to ensure on-the-ground adoption.
- Fuel the innovation momentum through a significant R&D focus and grow the portfolio of phytosterols bio-based solutions for key crops, supported by strategic research partnerships.
Committed Investors Backing the Global Agricultural Transition
The oversubscribed investment round was led by Carbyne Equity Partners, a private equity firm that invests in growing European businesses with strong market positions and a focus on R&D in its key sectors: agricultural technology, healthcare, and nutrition. Moreover, the existing investors Sofinnova Partners, European Circular Bioeconomy Fund (ECBF), and the Ecotechnologies Fund 2 managed by Bpifrance Investissement, reaffirmed their commitment.
Marius Dantl for Carbyne.
“At Carbyne we believe in the crucial role of biosolutions in the transition towards sustainable agriculture. Elicit Plant’s accomplished management team, the superior value proposition to farmers in key agricultural production regions as well as field proven products’ performance absolutely convinced us.”
Michael Krel for Sofinnova Partners.
“Elicit Plant has demonstrated its ability to transform agriculture with the launch of its products that deliver tangible results. As investors, we firmly believe that their innovative vision and expertise will continue shaping the future of global agriculture.”
“This fundraising is a validation of our success in the French, European, and Brazilian markets. We are at the forefront of supporting farmers in the face of growing climate impacts with proven solutions. The international adoption of our products is gaining momentum, supported by key partners like Bayer and BASF. Our objective is clear: to strengthen our market share across three continents and become a global industry leader by 2028, and this fundraising provides us with the resources to achieve it,” concludes Jean-François Déchant, CEO of Elicit Plant.
Source: Elicit Plant
Featured Image: Credit: Elicit Plant
