Clean Food Group, a British start-up, has announced that it has secured new funding from international investors as it develops sustainable oils and fats technology. The investment comes from industrial food specialists Doehler Group and Alianza Team, highlighting the global food industry’s commitment to investing in healthier and more sustainable food choices for future generations. Agronomics, a leading listed investment company focused on cellular agriculture, and SEED Innovations Ltd, an AIM-listed fund focused on global health opportunities, have also shown their support and participated in the funding round.
This capital injection will enable Clean Food Group to accelerate the scale-up of its technology platform and advance critical regulatory and commercial pathways. The company anticipates completing a Series A funding round in 2024, at which point it will have validated the technology at a commercial scale and have a clear path to near-term revenue generation. The funds raised during the Series A round will be used to support the construction of a commercial-scale manufacturing facility.
Clean Food Group has also entered into collaboration agreements with Alianza Team and Doehler Group. The services agreement with Doehler Group aims to rapidly scale Clean Food Group’s fermentation process to a commercial level, facilitating the manufacture of product batches required for regulatory approval in the cosmetics and food industries. The scale-up process with Doehler is progressing well, with a successful fermentation run at 1,000 liters recently completed. The manufacture of product batches for regulatory approval is set to be completed later this year.
Clean Food Group’s Co-founder and CEO, Alex Neves, expressed his satisfaction with the progress the company has made and stated, “We are now in a great position to validate our technology at a commercial scale, advance our regulatory pathways, and develop our growing list of commercial partners in advance of our Series A next year.”
The technology platform developed by Clean Food Group is the culmination of eight years of pioneering research led by Professor Chris Chuck. The platform utilizes scalable yeast strains and fermentation technology to transform food waste into sustainable alternatives to traditional oil and fat ingredients.
The partnership between Clean Food Group and its investors signifies an exciting step forward in addressing sustainability and supply chain challenges faced by food and cosmetic manufacturers. With the support of investors and the ongoing development of its technology, Clean Food Group is poised to drive innovation and meet the evolving needs of the food and beverage industry.
