Solugen Raises $50 Million to Scale Production of Azogen, a Fast-Release Fertilizer Certified for Organic Farming

Solugen Global Inc. (“Solugen” or the “Company”), a pioneer in sustainable agriculture solutions, is proud to announce a $50 million equity commitment led by Idealist Capital, a leading Canadian growth equity fund, with the participation of Canada Growth Fund Inc. (“CGF”).As part of this transaction, CGF is pleased to commit $20 million to support the next phase of Solugen’s growth. The new funding will accelerate Solugen’s production capacity scale‑up and support its mission to advance organic agriculture practices with innovative, circular fertilizer. 

Solugen produces and commercializes Azogen, a fast-release liquid ammoniacal nitrogen fertilizer derived from hog manure, a breakthrough that can help close the crop yield gap between conventional and organic farming. Its circular process addresses challenges in manure management while delivering a liquid drop-in solution that has been trusted for over a century in conventional agriculture. Certified organic in the United States (“U.S.”) and already gaining traction with major growers, Azogen helps organic farmers to sustainably boost their yields.

The Company’s modular, highly automated facility in St-Patrice-de-Beaurivage, Québec is already processing manure, operating 24/7. With this investment, Solugen will expand capacity at its existing plant and construct a second Québec facility, positioning the Company to reach the production scale required to unlock and accelerate its U.S. market penetration. These expansions will support growing demand across North America’s organic farming market. 

As Solugen moves into its next phase of growth, the Company will be expanding its team to continue to deliver exceptional support to hog farmers and growers and scale its production capabilities. 

“This investment marks a turning point for Solugen,” said André Beaulieu‑Blanchette, Founder and CEO of Solugen. “Our technology delivers proven performance while reducing environmental impact. Scaling our operations will allow us to serve more growers and help close the yield gap in organic farming. With this support, we will continue growing our team and strengthening the foundations needed for long‑term, sustainable expansion.”

“We believe Solugen’s solution raises the bar for what organic fertilizer can deliver,” said François Boudreault, Partner at Idealist Capital. “By converting manure into a circular, fast‑release fertilizer, the team has proven the reliability of their technology, showcasing strong execution and a clear path to scaling this technology where it can have meaningful impact.”

“CGF’s mandate is to invest in Canadian cleantech companies developing innovative, low-carbon solutions that boost Canada’s competitiveness and create jobs.” said Yannick Beaudoin, President and Chief Executive Officer of Canada Growth Fund Investment Management. “By co-investing alongside Idealist Capital, CGF is strengthening its cleantech strategy and helping scale companies like Solugen in developing innovations that support the decarbonization of Canadian industries.” 

About Solugen

Founded in 2017 and headquartered in Lévis, Québec, Solugen is redefining organic farming with Azogen, a fast release ammoniacal nitrogen fertilizer produced through a fully circular process. By converting manure into high-performance fertilizer, Solugen helps farmers increase yields while reducing greenhouse gas emissions associated with conventional fertilizers. Learn more at Solugen.

About Idealist Capital

Idealist Capital is a Canadian growth equity investor focused on accelerating the transition to a resilient economy. It provides businesses growth capital to scale solutions that are proven, economic, and sustainable. Through its investments and engaged stewardship, Idealist Capital seeks ways to drive efficient uses of resources and energy. To learn more about Idealist Capital, visit Idealist Capital.

About Canada Growth Fund

CGF is a $15 billion arm’s-length investment vehicle designed to attract private capital to build Canada’s clean economy. It uses investment instruments that absorb certain risks to catalyze private investment in low-carbon projects, technologies, businesses, and supply chains. Visit www.cgf-fcc.ca for more information. 

For CGF’s Media relations, contact mediacgf@cgf-fcc.ca.

About Canada Growth Fund Investment Management

In Budget 2023, the Government of Canada appointed PSP Investments, through a wholly owned subsidiary, to act as the asset manager for CGF. Canada Growth Fund Investment Management Inc. serves as the independent and exclusive asset manager for CGF.