In a bold stride towards mitigating climate change and fostering a more sustainable global food system, London-based Clean Food Group has announced an additional £2.5 million in funding from the Clean Growth Fund. This investment propels the company’s total capital raised to £13 million, positioning it strongly as it gears up for the commercial launch of its pioneering sustainable oils and fats technology in 2025.
The Clean Growth Fund, a dedicated climate-specific UK venture capital fund, joins a prestigious roster of investors including Agronomics, Alianza Team, Doehler Group, and SEED Innovations Ltd. This consortium of investors shares a unified vision: to significantly diminish the threat of climate change and cultivate a healthier, more sustainable food ecosystem worldwide.
Clean Food Group’s innovative approach leverages proven, scalable yeast strains and advanced fermentation technology, with a unique twist—utilizing food waste as a nutrient source. This groundbreaking technology promises to deliver sustainable alternatives to traditional oil and fat ingredients, which are notorious for their environmental impact.
The food sector currently accounts for a quarter of global greenhouse emissions, driven largely by high yield monocultures. These practices not only contribute to diseases and deforestation but also to the depletion of arable land. Moreover, with vegetable oils like palm and soy leading to 20% of global deforestation, the urgency for alternatives has never been more pressing.
The company’s flagship product offers a sustainable counterpart to high oleic palm oil. Boasting a 90% reduction in greenhouse gases compared to its traditional counterpart, as per an externally validated life-cycle assessment (LCA), Clean Food Group’s oil is poised to become a game-changer. Designed as a drop-in ingredient, it can seamlessly replace conventional oils in various products, ranging from baked goods to cosmetics, without compromising on quality or functionality.
This influx of investment underscores the faith in Clean Food Group’s potential to reshape the oils and fats market. The funds will be channeled towards accelerating the scale-up of the company’s technology platform and advancing towards regulatory approval and commercial milestones. With a comprehensive commercialization plan funded well into 2025, the company is on a clear path to bring its sustainable solutions to market.
Alex Neves, CEO and Co-founder of Clean Food Group, expressed enthusiasm about the partnership with the Clean Growth Fund. Led by Beverley Gower-Jones OBE, the fund's commitment to fostering innovation in the fight against climate change aligns perfectly with Clean Food Group’s mission. Neves highlighted the strategic importance of the capital infusion in scaling the company’s technology platform and advancing critical regulatory and commercial pathways.
Gower-Jones, a renowned figure in the sustainability sector, lauded Clean Food Group for its impressive team and industrial partnerships. She emphasized the critical role the company plays in reducing the food industry’s dependence on traditional palm oil, thereby combating deforestation and CO₂ emissions.
With a robust technical foundation and a suite of significant industrial collaborations, Clean Food Group is uniquely positioned to lead the charge in creating sustainable alternatives to conventional oils and fats. This latest round of funding not only signifies a major milestone for the company but also marks a significant step forward in the global effort to create a more sustainable and climate-resilient food system.