Clean Food Group, a BioTech business, has secured £2.3 million in funding to accelerate the commercialization of its sustainable oils and fats technology. This investment comes from global food industry leaders, including Doehler Group and Alianza Team, who are looking to invest in healthier and more sustainable food choices for future generations. Furthermore, leading investment companies Agronomics and SEED Innovations Ltd have also shown their support and participated in the funding round.
The capital raised from this funding will enable Clean Food Group to scale up its technology platform and advance regulatory and commercial pathways. By 2024, the company aims to complete a Series A funding round, validating the technology at a commercial scale and establishing a clear line of sight to near term revenue generation. The funds raised during the Series A will support the construction of a commercial scale manufacturing facility.
In addition to the investment, Clean Food Group has entered into collaboration and services agreements with Alianza Team and Doehler Group, respectively. These agreements will facilitate the rapid scaling of Clean Food Group’s fermentation process and the manufacture of product batches required for regulatory approval. Notably, a successful fermentation run of 1,000 litres has recently been completed, and the production of product batches for regulatory approvals is scheduled for later this year.
To bolster its operational team, Clean Food Group has made strategic hires in key positions such as head of manufacturing and scale-up and head of product. These additions further strengthen the company’s ability to execute its growth plans.
Co-founder and CEO, Alex Neves, expressed his delight with the progress that Clean Food Group has made. This successful funding round validates the company’s efforts to solve sustainability and supply chain challenges in the food and cosmetic manufacturing industries. With the current funding, Clean Food Group is well-positioned to validate its technology at a commercial scale, advance regulatory pathways, and expand its list of commercial partners in preparation for the Series A funding round scheduled for next year.
Clean Food Group’s technology platform is the result of eight years of pioneering research led by Professor Chris Chuck. It utilizes proven, scalable yeast strains and fermentation technology, using food waste as its source, to deliver sustainable alternatives to traditional oil and fat ingredients.
Clean Food Group has secured £2.3 million in funding from industry leaders to accelerate the commercialization of its sustainable oils and fats technology. This investment will support the scale-up of its technology platform, advance regulatory and commercial pathways, and pave the way for the company’s Series A funding round in 2024. By leveraging strategic collaborations and expanding its operational team, Clean Food Group is poised to address critical sustainability challenges and revolutionize the food and cosmetic manufacturing industries with its innovative technology platform.
