Cultiva receives $3.95 million investment

Cultiva, a manufacturer of proprietary biofilm produce coatings, received a $3.95 million investment through the Nevada New Markets Tax Credit program.

Enacted in 2013, the Nevada New Markets Jobs Act encourages investment in small businesses located in distressed communities throughout the state. Modeled on the federal New Markets Tax Credit program, the state program attracts large and long-term investors to Nevada’s low-income communities. It promotes new expansion by creating new job opportunities and building on existing growth in the state.

“Our products provide safe, natural and innovative crop protection solutions that increase growers’ yields and quality on harvested fruit and vegetables,” Cultiva CEO Luis Hernandez said. “By moving the manufacturing process closer to our headquarters in Nevada, we will be able to better control the quality of our product, increase productivity and expand our product development.”

Cultiva offers a food-grade biofilm technology - known as SureSeal - a specialized coating that provides growers with a solution to suppress fruit cracking, enhance quality traits of harvested fruits and vegetables. This biofilm technology extends the marketable shelf life of high-value crops.

The New Markets funding shall finances the transfer of Cultiva’s production process from an out-of-state, third party vendor to an internally-run production facility located in Las Vegas.

Cultiva’s biofilm products are used as substitutes for conventional wax-based chemicals. All of its current products exist as exempt from U.S. Environmental Protection Agency approvals or registrations due to their safe, natural and soft nature and their classification as non-pesticide products.

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U.S. Environmental Protection Agency (EPA)

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