Friday, June 14, 2024

UK food-tech business secures £2.3m to scale operations in advance of Series A

UK-based bio-tech business Clean Food Group has secured a further £2.3 million in funding to accelerate the commercialisation of its sustainable oils and fats technology.

International investment has come from industrial food specialists Doehler Group and Alianza Team as the global food industry looks to invest in healthier and more sustainable food choices for future generations.

Agronomics, the listed investment company focused on Cellular Agriculture, and SEED Innovations Ltd, the AIM-listed fund focused on investments in global health opportunities, have also shown their continued support and participated in the latest funding round.

Capital raised from this funding will enable Clean Food Group to accelerate the scale-up of its technology platform while advancing critical regulatory and commercial pathways.

Clean Food Group expects to complete a Series A funding in 2024, by which time the business will have validated the technology at a commercial scale and have a clear line of sight to near term revenue generation. The business will raise funds at Series A to support the build out of a commercial scale manufacturing facility.

In addition to a collaboration agreement with Alianza Team, announced by the company on 8 August 2023, Clean Food Group also recently signed a services agreement with Doehler Group, designed to rapidly scale its fermentation process to a commercial level, and enable the manufacture of product batches required for regulatory approval for Cosmetics and Food applications.

The scale-up process with Doehler is now well advanced, with a successful fermentation run at 1,000 litres recently completed; the manufacture of product batches for the regulatory approvals will be completed later this year.

Additionally, in 2023, Clean Food Group strengthened its Operational team with the hires of Dr. James Mercer, Head of Manufacturing and Scale-up, and Andrea Cattaruzza as Head of Product.

James will be responsible for the scale-up of the company’s technology and brings over 25 years of experience in industrial fermentation and scale-up of alternative proteins, having previously held senior operational roles at Quorn, Croda, and DuPont, amongst others.

Andrea brings 30 years of experience from Mars Global Chocolate, most recently as Director of Science. Andrea will drive Clean Food Group’s product strategy, developing high performance, sustainable ingredients for commercial partners.

Clean Food Group Co-founder and CEO Alex Neves says: “We are delighted with the rapid progress the business has made in the past year.

“The successful conclusion of this current funding round validates the important strides our business is taking in solving critical sustainability and supply chain challenges facing our food and cosmetic manufacturer customers.

“We are now in a great position to validate our technology at a commercial scale, advance our regulatory pathways and develop our growing list of commercial partners in advance of our Series A next year.”

Clean Food Group’s technology platform is the result of eight years of research led by Professor Chris Chuck, Technical Lead at Clean Food Group. The technology platform uses proven, scalable yeast strains and fermentation technology and uses food waste as its food source to deliver sustainable alternatives to traditional oil and fat ingredients.

A message from the Editor:

Thank you for reading this story on our news site - please take a moment to read this important message:

As you know, our aim is to bring you, the reader, an editorially led news site and magazine but journalism costs money and we rely on advertising, print and digital revenues to help to support them.

With the Covid-19 pandemic having a major impact on our industry as a whole, the advertising revenues we normally receive, which helps us cover the cost of our journalists and this website, have been drastically affected.

As such we need your help. If you can support our news sites/magazines with either a small donation of even £1, or a subscription to our magazine, which costs just £31.50 per year, (inc p&P and mailed direct to your door) your generosity will help us weather the storm and continue in our quest to deliver quality journalism.

As a subscriber, you will have unlimited access to our web site and magazine. You'll also be offered VIP invitations to our events, preferential rates to all our awards and get access to exclusive newsletters and content.

Just click here to subscribe and in the meantime may I wish you the very best.
















Latest news

Related news

By continuing to use the site, you agree to the use of cookies. more information

The cookie settings on this website are set to "allow cookies" to give you the best browsing experience possible. If you continue to use this website without changing your cookie settings or you click "Accept" below then you are consenting to this.

Close