Liberation Labs Secures $30 Million in Equipment Funding for First Biomanufacturing Facility
Summary
Groundbreaking is expected in June 2023 with initial plant startup by the end of 2024.Liberation Labs is focused on enabling the commercial availability of bioproducts that will meet the growing demand from existing major CPG and ingredient brands as well as from the emerging crop of precision fermentation-focused startups. Traditionally it is challenging to secure this kind of funding for a first-of-a-kind facility, but this lease financing reflects the belief in our vision and strong team by our committed equity and equipment finance investors.The facility comes at a time of increasing focus on both the importance of a domestic biorefining industry, and the current lack of major projects. In September 2022, President Biden launched a National Biotechnology and Biomanufacturing Initiative designed to stimulate development and create domestic jobs, build stronger supply chains, lower costs for Americans. The new facility, the first in the US fully dedicated to novel bioproducts, could catalyze market demand, commercializing innovation among food, chemical and materials biotechnology companies and their associated economic, health and environmental benefits.About Liberation LabsLiberation Labs is commercializing precision fermentation with a global network of purpose built manufacturing facilities that enable the next wave of biotechnology advancements to produce bio-based consumer products at scale. We combine modern technology with fit-for-purpose design to bring reliable and cost-effective solutions that meet customer demand across the world.