Vancouver's CellFor, which breeds clones of pine trees for forestry operations, has received $24.5 million in a fourth round of financing, according to VentureWire.
The company, founded after the merger of two other companies in 1999, has come up with techniques for breeding disease-resistant, uniform pine tree seedlings. The 18-inch high seedlings cost 35 cents each, more than the five cents that ordinary seedlings fetch. Still, CellFor says it can sell 100 million seedlings annually and hit profitability in two years.
Forestry is the last sector of agriculture that doesn't heavily emphasize breeding techniques to increase yield, … Read more