Liverpool based biotech startup Clean Food Group has secured 4.5 million GBP in a funding round to accelerate the expansion of its fermentation facility. The round was structured as a convertible loan note led by Clean Growth Fund and New Agrarian. Existing investors SEED Innovations and Döhler Group also participated in the financing. In addition to the private capital raised, the company received a 700,000 GBP non-dilutive grant from Innovate UK.
The convertible loan note features a 12 percent annual coupon and is set to mature in August 2027. It includes a provision for conversion at a 20 percent discount during a future equity raise. The fresh capital will be directed toward scaling the company's manufacturing site in Knowsley, Liverpool.
Clean Food Group specializes in the production of sustainable oils and fats for the cosmetics, food, and pet nutrition sectors. The company utilizes a proprietary fermentation process that employs non-GMO yeast and food waste as feedstock, aiming to provide alternatives to traditional agricultural oil supply chains.
The convertible loan note features a 12 percent annual coupon and is set to mature in August 2027. It includes a provision for conversion at a 20 percent discount during a future equity raise. The fresh capital will be directed toward scaling the company's manufacturing site in Knowsley, Liverpool.
Clean Food Group specializes in the production of sustainable oils and fats for the cosmetics, food, and pet nutrition sectors. The company utilizes a proprietary fermentation process that employs non-GMO yeast and food waste as feedstock, aiming to provide alternatives to traditional agricultural oil supply chains.