Alianza Team is investing in CFG’s current ‘Pre series A’ funding round. Capital raised from this funding round – expected to close this month – will enable CFG to accelerate the scale up of its technology platform while navigating the necessary regulatory pathways for its product.
The company planned to complete a Series A Funding in 2024m by which time the business expected it will have validated technology at a commercial scale, with the funds used to support the construction of a new manufacturing facility.
Closing the current funding round
CFG co-founder and chief executive Alex Neves said: “We are delighted to be sharing the news of this investment and collaboration with Alianza Team today. The investment is further validation of Clean Food Group’s technology platform and is a key component in enabling the company to proceed to a successful close of our current funding round.
“The strategic collaboration with Alianza Team will drive forward our commercialisation strategy and support our objective to bring sustainable oils and fats on to the market, at commercial scale, within the next three years.”
CFG’s technology platform is the result of eight years of research led by Professor Chris Chuck, technical lead at the tech firmand the University of Bath. The proprietary technology platform uses scalable yeast strains and fermentation technology and uses food waste as its food source, to deliver sustainable alternatives to traditional oil and fat ingredients.
Pathway to commercialisation
The long-term collaboration agreement will accelerate CFG’s pathway to commercialisation and will combine its expertise in the production of microbial oils with Alianza Team’s 75 years’ experience and expertise in developing functional, value-add oils and fats products for the world’s leading food manufacturers.
Luis Botero, president and chief executive at Alianza Team, added: “Alianza Team is committed to creating a new future of healthy and sustainable food choices for our customers.
“We are excited to be investing in and collaborating with Clean Food Group, an organisation where we believe our shared core values of innovation and sustainability will deliver healthier, more nutritional foods to improve our food systems for future generations.”
Meanwhile, Harper Adams University and agri-tech firm Flybox are developing a fully modular insect farm designed to create sustainable proteins for the commercial farming sector.