WAYNE, Pa., Nov. 23, 2020 (GLOBE NEWSWIRE) -- Augusta Fermentation Opportunity Zone Fund I, L.P. (AF I) today announced it has acquired an equity interest in Manus Bio’s QOZB which operates a biomanufacturing facility located in Augusta, GA. The QOZB will leverage Manus Bio’s proprietary fermentation technology and proven biomanufacturing expertise to support the commercialization of next generation natural products for the $200+ billion global ingredients supply chain.
AF I General Partner, William L Lane III of Almanack Family Office commented, “Manus Bio is a leader in the field of advanced fermentation and we are excited to offer clients exposure to this investment which truly captures the intent of the OZ legislation – creating permanent jobs and the potential to generate attractive returns for our Limited Partners. We view this OZ collaboration as a new model for triple bottom line ESG investing.”
”Manus Bio plays a leading role in the transformation from carbon-intensive agricultural supply chains to the biomanufacturing model,” stated James T Anderson of Tierra Partners, AF I General Partner, “Manus Bio has the potential to dramatically reduce greenhouse emissions while making expensive, rare ingredients more globally accessible. We view this investment as a blueprint for how OZ investing can deliver measurable positive outcomes – sustainable job creation, local economic impact and manufacturing onshoring.”
Jeff Anderson, COO of Manus Bio said, “This investment will support Manus’ growth and expansion in Augusta, providing direct benefits to the local economy. We are very pleased to welcome AF I’s investors into the Manus Bio family.” Paul Boni, Senior Finance Advisor to Manus Bio added, “Bill and Jamie brought in expertise to successfully navigate a complex, new area under the tax code to create a unique structure that fits Manus’ business goals while providing its investors with OZ tax benefits.”
Manus Bio recently announced a closing on $75 million of Series B financing. Manus Bio acquired the former NutraSweet plant in 2018 which is located in a Qualified Opportunity Zone. The Company’s proprietary technology was invented by senior management while at MIT and represents a new era in economical and sustainable fermentation-based manufacturing of rare and complex natural ingredients.
About Augusta Fermentation Opportunity Zone Fund I, LP (QOF)
The QOF offers exposure to Manus Bio’s vertically-integrated ingredients manufacturing platform through a Qualified Opportunity Zone Business. Please consult a tax specialist to better understand how Opportunity Zone tax benefits may apply to your particular situation. To learn more, visit www.augustafermentation.com.
About Manus Bio
Manus Bio leverages rapid advances in Biology to produce complex natural ingredients used in our daily lives as flavors, fragrances, food ingredients, cosmetics, vitamins, pharmaceuticals and agricultural chemicals. Using its advanced fermentation technology, Manus Bio recreates natural processes for next-generation industrial biomanufacturing and provides sustainable and cost-effective sources of ingredients for health, wellness, and nutrition. To learn more, visit www.manusbio.com.
