Code Moment | Green Nitrogen Bio Announces Completion of RMB 10 Million Seed Round, Source Code Capital as Sole Investor

源码资本·July 28, 2022·0·8

Realizing the vision of gradually replacing chemical nitrogen fertilizers with biological nitrogen fertilizers, supporting sustainable agriculture and ecology worldwide.

#MaKe Key Updates from Source Code Capital and MaHui Members

Beijing Lüdan Biotechnology (hereinafter "Lüdan Bio"), a synthetic biological nitrogen fixation technology development platform, announced the completion of a seed round of tens of millions of RMB in exclusive funding from Source Code Capital. The proceeds will be used to build a high-throughput screening laboratory and assemble a team.

Founded in June 2022, Lüdan Bio aims to address China's major agricultural production needs by advancing the industrialization of synthetic biological nitrogen fixation technology, providing efficient and green biological nitrogen supply solutions for agricultural production in China and globally. The goal is to reduce costs, save fertilizer, stabilize yields, and improve efficiency — gradually replacing chemical nitrogen fertilizer with biological nitrogen fertilizer and supporting sustainable agriculture and ecology worldwide.

Leading Low-Carbon Agriculture

In its Top 10 Emerging Technologies of 2021 report published in November 2021, the World Economic Forum (WEF) named synthetic biotechnology as one of the disruptive technologies that will shape the future of the world. Its application in agriculture promises revolutionary solutions to global agricultural production challenges, fostering new bioeconomy forms such as agricultural carbon and ammonia economies, and driving new momentum and transformations in cellular agriculture, low-carbon agriculture, and smart agriculture.

Nitrogen is one of the essential elements for plant growth and a limiting factor for high and stable agricultural yields. According to the International Fertilizer Association (IFA), global demand for chemical nitrogen fertilizer will continue to grow at 1.2% annually, reaching 183 million tons by 2024. This brings a host of problems: massive carbon emissions from the nitrogen fertilizer industry chain, ecological damage from over-application, and rising nitrogen fertilizer prices threatening food security. Biological nitrogen fixation — providing nitrogen for crops through biological means — is the most energy-efficient, environmentally friendly, and ecologically sound approach to nitrogen supply.

Lüdan Bio leverages AI, data science, and automation to integrate massive gene, strain, and germplasm data resources with high-throughput screening, bio-algorithms, synthetic biology, and fermentation engineering. It is building a future-facing biological nitrogen fixation technology development platform. The company will conduct research on the adaptability of biological nitrogen fixation modules, systematic optimization of artificial nitrogen fixation pathways, and field application of efficient nitrogen fixation systems. It aims to break through "advanced smart manufacturing processes for new nitrogen fixation products" and develop a series of biological nitrogen fixation products.

In terms of technical capabilities, Lüdan Bio's experimental development of high-efficiency nitrogen-fixing bacteria as a nitrogen fertilizer replacement is broadly on par with leading European and American products, offering significant cost-performance advantages compared to comparable international offerings.

The company has already accumulated tens of thousands of strain resources and chassis cells, and holds nearly 20 patents related to synthetic nitrogen fixation components. With the foundation for commercialization in place, it can rapidly move into product validation and evaluation, scale up to production, and provide important demonstration technical support for applying efficient nitrogen fixation systems in agricultural production.

World-Class Team

Lüdan Bio founder and CEO Ruiqiang Ma holds a PhD in microbiology from China Agricultural University and completed postdoctoral research at the Chinese Academy of Agricultural Sciences. He is a deputy to the 12th National People's Congress, a national "Ten Thousand Talents Program" leading talent, a Ministry of Science and Technology innovation and entrepreneurship talent, and recipient of the 19th China Youth May Fourth Medal. He has over ten years of continuous entrepreneurial experience. Chief scientist Min Lin is a researcher at the Biotechnology Research Institute of the Chinese Academy of Agricultural Sciences, a recipient of the National Science Fund for Distinguished Young Scholars, chief scientist of a National 973 Program project, and chairman of the Zhongguancun Quantum Biology Agricultural Industry Technology Innovation Strategic Alliance. He has spent 30 years focused on biological nitrogen fixation genomics and synthetic biology research.

Ruiqiang Ma noted that over the past two decades, national major projects and programs have provided continuous support for biological nitrogen fixation research, cultivating a high-level scientific research team and yielding abundant results. The global nitrogen-fixing microorganism industry is currently undergoing a new round of technological innovation. Once breakthroughs are achieved and widely applied in agricultural production, they will inevitably reshape the current agricultural fertilization landscape. The commercial validation, assessment, and productization of China's biological nitrogen fixation technology is urgently needed.

Lüdan Bio has assembled a cutting-edge team in the biological nitrogen fixation field. Its next steps are to build a high-throughput screening laboratory, gradually develop nitrogen fixation products, conduct nitrogen fixation capability evaluations, and continue recruiting outstanding scientific research talent with practical experience in microbial resource innovation, smart manufacturing processes, product assessment, and automation innovation.

Xiang Tong of Source Code Capital said: "Agriculture is an investment area we continue to watch closely. In recent years, with technology as the backbone and a move toward intensive modern agricultural development, the sector is experiencing many supply-side transformation opportunities driven by innovation. Biological nitrogen fixation technology has the potential to address the low utilization rate of traditional chemical nitrogen fertilizers, soil compaction, and severe pollution issues. Through innovative technology, it can not only reduce fertilizer use and improve crop efficiency, but also significantly cut carbon emissions — aligning with the needs of sustainable agricultural development. Source Code Capital values the Lüdan Bio team's professional depth in biological nitrogen fixation and the entrepreneurial spirit of its founding team. We will work hand in hand with the Lüdan team to support the development of agricultural technology and the implementation of the nation's dual carbon strategy."