Clean Food Group, a leading UK-based biotech business, has secured a funding injection of £2.3 million to expedite the commercialization of its innovative oils and fats technology, offering a sustainable alternative to traditional oil and fat ingredients.
This international funding comes amid a growing emphasis on healthier and sustainable food options, with notable investments from food industry stalwarts such as the Doehler Group and Alianza Team. Furthermore, Agronomics, a renowned investment company in cellular agriculture, and SEED Innovations Ltd., a fund focused on global health investments, have reaffirmed their commitment by participating in this funding phase.
The capital amassed will bolster the Clean Food Group’s efforts to upscale its proprietary technology platform rapidly. The funds will also be directed toward traversing pivotal regulatory and commercial channels. The company’s forward trajectory includes a Series A funding round anticipated in 2024. By then, the firm aims to have substantiated its technology commercially and foresees a pathway to imminent revenue streams. This Series A phase will further financially underpin the establishment of a full-scale manufacturing facility.
Highlighting their dedication to collaboration, Clean Food Group disclosed a recent partnership agreement with the Doehler Group. This partnership intends to speed up the company’s fermentation process, facilitating the creation of product batches indispensable for regulatory consent in the cosmetic and food sectors. Revelations state that their collaboration with Doehler has already made headway, with a successful 1,000-litre fermentation run concluded. The ensuing product batches for regulatory endorsements are slated for completion by year-end.
The year 2023 saw Clean Food Group fortifying its operational contingent. Dr. James Mercer joined as the Head of Manufacturing and Scale-up, and Andrea Cattaruzza was onboarded as the Head of Product. Dr. Mercer, boasting a legacy with industry giants such as Quorn, Croda, and DuPont, is set to spearhead the company’s technology scale-up. Simultaneously, Cattaruzza, a Mars Global Chocolate alumna, will navigate its product strategy, sculpting efficient, sustainable ingredients for its commercial allies.
Commenting on this landmark progress, Alex Neves, Co-founder and CEO of Clean Food Group, stated, “This latest funding accomplishment substantiates the pivotal advancements our enterprise is making in addressing pressing sustainability and supply chain challenges encountered by our clientele in the food and cosmetic manufacturing sectors. As we approach our Series A next year, we stand poised to validate our technology on a grander commercial scale and to augment our expanding roster of commercial associates.”
Clean Food Group’s novel technology, birthed from eight years of rigorous research by Professor Chris Chuck, hinges on employing scalable yeast strains and fermentation processes. Remarkably, it leverages food waste as a primary resource, marking a significant stride towards sustainable alternatives in the food industry.