Clean Food Group Raises £2.5M in Funding
Summary
Led by CEO Alex Neves, Clean Food Group is a food-tech business delivering sustainable oils and fats solutions to food and cosmetics manufacturers, with the mission to deliver scalable, healthier, competitively priced ingredients that have a positive impact on the economic, environmental, and social health of the planet. Its go-to-market product is an equivalent to high oleic palm oil, supported by an externally validated LCA (life-cycle assessment) which demonstrates it delivers a 90% reduction in greenhouse gases when compared with traditional palm oil. Clean Food Group’s oil has been designed as a drop-in ingredient that can be substituted in a number of consumables, including baked goods, confectionery and cosmetics applications. Commenting on the news, Alex Neves said: “The capital raised with Clean Growth Fund will allow us to accelerate the scale-up of our technology platform while advancing critical regulatory and commercial pathways, with a fully funded commercialisation plan in place well into 2025. We are delighted to be working with the Clean Growth Fund team, led by Beverley Gower-Jones, who is equally passionate about accelerating innovation to help address climate change and to create a healthier, more sustainable, global food system.”