Announcing the Genesis Program’s Investment in Portunus

Juan M Alvarez
Apr 26, 2018 · 4 min read
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The Problem

Chitosan is a polysaccharide extracted from the chitin shells of crustaceans for a wide array of applications in several industries including agriculture and medicine. Currently, chitosan is produced through the deacetylation of chitin using sodium hydroxide in excess as a reagent and water as a solvent. The current acid-base extraction process employs harsh chemicals at elevated temperatures for a prolonged time, chemicals which impact environmental health. As a result, research on the bioextraction of chitin from crustacean shell waste has increased significantly. Bioextraction of chitin is cleaner, more eco-friendly, and much more economically viable.

The Founders

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From Left to Right: Eduardo Longoria, Isis Eich, and Fabian Hernandez

How’re They Doing?

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Portunus’ Chitosan Production in Progress!

Why I Led This Deal by Catherine Cheng, Due Diligence Analyst

Portunus showed great potential to disrupt the old industry of chitosan production through novel bio-extraction production methods. I was excited not only by the novelty of the technical application but by Eduardo’s drive to succeed and business acumen. He was eager to learn and improve in order to make his vision a reality. He has grit: he started production before receiving any capital and has already developed important, market-launching connections in Brazil for his first round of production samples. This deal marks the first venture in the biochemical and processing space backed by Genesis and the team is incredibly excited to see what Portunus accomplishes.

Genesis

Student-alumni joint venture empowering student investors…

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