Sep 2022

microTERRA Investors,

Closing Q3 with great accomplishments and big challenges. As mentioned in our last email, we hired our first executive Raul de Cordova as our head of operations, we are excited that he will take over the entire production operations from farms to the final product. However, this hire was essential as Fanny Villiers our COO and Co-founder will be leaving microTERRA this month. Fanny has been dealing with burnout since April, and after trying different solutions, she has decided to leave microTERRA. We will definitely miss her, and we are taking this challenge as an opportunity to build a specialized team to take us to the next level.

Fanny representing microTERRA as a key speaker in the opening roundtable of the Ftalks Food Summit 2022.

🚀 Highlights

• We launched a new pilot with Agropark, a 300ha Greenhouse consortia. We are growing Lemna with hydroponic wastewater at a 2,000m2 scale. New technology unlocked!
• Key insights about the market opportunity of our texturizing ingredient. More in Biz Dev
• microTERRA participated at the Ftalks Food Summit 2022, and hosted a happy hour in our new offices to foster the foodtech & entrepreneurship network in Mexico.

<aside> 📈 KPIs

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Financial Metrics

Money in the bank: $1,982,870.45

Monthly burn rate: $103,827.55

Projected runway: 14 months

Headcount: 22

Full time: 18

Performance Metrics

Lemna surface: 5,000 m2

Production capacity: 330 Kg/month

Decoloured Lemna: 50 kg / month

Heads hired: 2 / 4

Patent filed: 0 / 2

Production metrics of Q3

Financial metrics of Q3

Team metrics of Q3

⚡ From Q1 to Q3