Clean Food Group secures £1.7m in seed funding led by Agronomics to scale its palm oil alternative.
Agronomics led the seed financing round to help fund a large-scale pilot plant and secure regulatory approvals.
Clean Food Group is a UK-based food-tech business developing cultivated food alternatives to address environmental concerns in supply chains. The company is currently focused on producing a viable yeast-based replacement for palm oil.
Clean Food Group has secured £1.7m in a seed financing round led by Agronomics. The capital will be deployed to support the development of a large-scale pilot plant and to secure regulatory approval for the company's palm oil alternatives.
The funding follows the acquisition of relevant intellectual property from the University of Bath, where the underlying technology was developed over eight years. Agronomics holds a 35% stake in the business following the transaction, alongside participation from SEED Innovations and other venture capital backers.
From the founder
"Our dependence on palm oil comes at a great environmental cost. We’ve worked over many years to create robust palm oil alternatives that give us a real chance to cut the impact of a range of products that until now have only been possible to produce with palm oil and the deforestation, pollution and emissions that come with it."
Chris Chuck
Technical Advisor and Professor of Bioprocess Engineering at Clean Food Group
Use of funds
- 01Continue product development
- 02Build out infrastructure
Investors
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About the company
Clean Food Group
Clean Food Group develops a cultivated, yeast-based alternative to palm oil.