St. Louis Inno is publishing profiles of its 2024 Startups to Watch this week. See the entire list of honorees below.
SALUNA INC.
Headquarters: St. Louis
President: Matt Helms
What it does: Saluna is seeking to create new non-THC/CBD varieties of industrial hemp, with a focus on allowing growers to use the crop as a grain crop in place of crops like corn and soybeans. While hemp has been used for development of fiber and cannabis products, Saluna aims to have its crop be used for products that include biofuels and animal feed.
The latest: Saluna in recent months has built out its initial operations after being incorporated in the fall of 2023. It has launched with investment from St. Louis-based holding company Hermann Cos. and BioSTL’s BioGenerator Ventures. It's assembled a team that includes Helms; Matt Plummer, chief operating officer; Mwaura Livingstone Nganga, director of R&D; and Mike Gerau, director of breeding.
Why you should watch it: The creation of Saluna was inspired by St. Louis firm CoverCress, which created a new oilseed cash crop and sold in 2022 to German pharmaceutical and agriculture giant Bayer. Hermann Cos. and BioGenerator were both early investors in CoverCress. While still in its early days, Saluna has assembled a team with deep experience in agriculture and startups. Helms is managing director at BioGenerator and previously was chief commercial officer at St. Louis-based agriculture startup NewLeaf Symbiotics, following an 18-year tenure at Monsanto. Plummer previously was vice president at St. Louis investor Lewis & Clark AgriFood and principal at St. Louis-based agriculture investor The Yield Lab.
What’s next: Saluna is focused currently on advancing its research and development efforts as it seeks to develop a commercially viable product for growers. Saluna envisions the product it develops as being an economically competitive alternative to corn, soybeans and other grain crops. Plummer said the company is focusing its resources on its innovation efforts.
More about Saluna
Founded: 2023
Founders: BioGenerator, Hermann Cos.
Employees: 3
Capital raised: Approximately $2 million
Investors: Hermann Cos., BioGenerator
