Anuvia Plant Nutrients Corp.'s new deal with a major Malaysian company is expected to create about 80-100 jobs in Plant City, CEO Amy Yoder said.
The Winter Garden-based fertilizer manufacturer also will double its production capacity, in part, to satisfy new customers in the Asia-Pacific market.
The partnership with Malaysia-based Petronas Chemicals Group Berhad and expansion from North America to Asia marks a "significant advancement" in the company's global growth, Anuvia announced Nov. 2.
"For us, it was exciting because Petronas is the leading fertilizer distributor and manufacturer in that region of the world," Yoder told Tampa Bay Business Journal. "So aligning with the No. 1 [company] to help them convert, it was very big. For Petronas, they were really excited because they have made a pledge to be net zero by 2050. Our product helps them on their way to hitting that corporate objective."
Anuvia began a 10-year lease with Tampa-based The Mosaic Co. (NYSE: MOS) in 2019 to use Mosaic's shuttered 800-acre phosphate production facility in Plant City. The site's production capacity can expand to 1.2 million tons — enough to service over 20 million acres of crops.
Right now, Anuvia produces about 400,000 tons of fertilizer in Plant City using one manufacturing line. That will double to 800,000 tons with another line once Anuvia completes a new funding round, which Yoder expects to occur in the first quarter of next year.
"The process has been going very well," Yoder said. "We have quite a few very large, significant investors."
Anuvia previously raised $65.5 million in Series D funding, Orlando Inno reported in April. It has raised about $175 million since its founding in 2015.
A 2022 Orlando Inno Fire Award winner, Anuvia uses a proprietary, slow-release nutrient delivery system the company says will improve soil health and crop yield. Farmers benefit by lowering greenhouse gas emissions and increasing their return on investment, according to Anuvia. The product can be used to grow all crops, including corn, soybeans, cotton, rice and canola.
Expanding into Asia illustrates the global demand for making the industrial agricultural business more sustainable — the industry accounts for about 26% of global greenhouse gas emissions and 70% of global freshwater withdrawals, according to Our World in Data.
Petronas (KLSE: PCHEM) will market and produce Anuvia's fertilizer in Japan, Malaysia and Australia.
This fertilizer solution can boost farmers' incomes and contribute to global food security, Petronas Managing Director and CEO Mohd Yusri Mohamed Yusof said in a prepared statement. "We will continue to provide innovative solutions to expand our market share and capture future opportunities given the rising demand for sustainable products within the Asia-Pacific region."
The new jobs in Plant City will include engineers, quality control specialists and boots-on-the-ground labor, Yoder said. Anuvia employs 120 people.
Meanwhile, Anuvia earlier this year was ranked No. 280 on the Financial Times' list of the 500 fastest-growing companies in the United States.
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