CoverCress scores $5M follow-on equity investment

In Missouri, CoverCress Inc. (formerly Arvegenix Inc.) has closed a $5 million follow-on equity investment round to continue its development of a new winter oilseed crop named CoverCress®. This crop enables farmers in the southern half of the Midwest to grow three crops each two years, getting more from their existing farmland and equipment. CoverCress® is planted at corn harvest in fall and is harvested immediately prior to soybean planting in May. In addition to new revenue from the oilseed crop, it also builds soil health, and holds soil and nutrients in place over winter as a cover crop. Its grain contains oil and protein similar to that of canola, with a very unique feature: a very low carbon intensity.