Food BioTech awarded £1m to fund growth plan
Summary
UK-based BioTech business, Clean Food Group, has been awarded \xa31m in funding to advance novel low-emission food production systems in the UK.The funding will enable the rapid scale up of Clean Food Groups manufacturing capability and the development of next generation, high value microbial oils.The funding from the UK Governments Novel Low-Emission Food Production Systems: Industrial Research Grant has been awarded by Innovate UK, the UKs national innovation agency, and the Biotechnology and Biological Sciences Research Council (BBSRC).The funding will accelerate the companys growth plan to deliver a market-ready technology leading to a more local, sustainable and healthy food production system.For the duration of the 18-month project, Clean Food Group will collaborate with The University of Bath leveraging its world-class bio-tech research capabilities to develop high-value, functional microbial oils.Clean Food Groups proprietary technology platform uses proven, scalable yeast strains and fermentation technology to convert food waste into sustainable alternatives to traditional oil and fat ingredients.Clean Food Group co-founder and CFO Tom Ellen said: We are delighted to have been granted this funding by Innovate UK and the Biological Sciences Research Council (BBSRC).The award is great validation of our technology platform and commercialisation strategy and will help us rapidly scale our manufacturing capabilities and regulatory pathways to achieve the necessary Food and Cosmetic regulatory approval for our products.We have a long history with the University of Bath and are thrilled to strengthen this further as we continue working with their world-leading research team.Chris Chuck, Professor of bioprocess engineering at University of Bath, added: Ensuring that our future food production is secure and sustainable has never been so important.It is fantastic to see the UK playing a lead role in driving forward much-needed innovation to create a more sustainable, healthy, and secure food system for future generations.Clean Food Group is founded by a team with key experience in growing biotech, food industry and retail businesses supported by established venture capital and family office investors with a track record supporting fast-growth start-up companies in highly regulated industries.
Funding
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