CHONEX

Alabama-based CHONEX offers protein livestock feed, biostimulants, and biofertilizer using a proprietary composting process. The company’s fertilizer “STRONGSOIL” is made by using black soldier fly larvae to convert poultry manure into the final product, which contains plant-beneficial microbes and is stated to have a high content of macronutrients (nitrogen, phosphorus, and potassium). Based on 2021 field trials, CHONEX has demonstrated that its fertilizer improved yields (up to 30%+ increase on foliage crops), increased root growth, nutrient uptake, and stress tolerance while reducing fertilizer use by up to 50%.

As of October 2019, CHONEX was selling all of its production to one customer (undisclosed) and was aiming to scale its operations. The company reported plans to begin production in February 2020 with a capacity of processing 3 tons of waste a day. It also revealed plans to test the market throughout Spring and Summer 2020 and build a production facility to increase its capacity to 60 tons per day. 

In September 2019, CHONEX secured an agreement with Cal-Maine Foods to process all waste manure from the latter’s facility. In 2022, CHONEX began conducting field trials across 30 growers in 16 states on more than 10 crop types to validate the effectiveness of the company’s fertilizer across different growing conditions (results not provided). 

Funding and financials

In June 2022, CHONEX raised USD 5.78 million in seed funding to expand production capacity amidst increasing demand and file patents for its proprietary processing technology. In June 2023, the company announced the closing of a USD 40 million funding round and was expecting to use the funds to scale up the business and build a new plant.