Clean Food Group, a London, UK-based food-tech company, raised £2.5M in funding.
The round was led by Clean Growth Fund.
The company intends to use the funds to accelerate the commercialisation of its technology.
Led by CEO Alex Neves, Clean Food Group is a food-tech business delivering sustainable oils and fats solutions to food and cosmetics manufacturers, with the mission to deliver scalable, healthier, competitively priced ingredients that have a positive impact on the economic, environmental, and social health of the planet. Its go-to-market product is an equivalent to high oleic palm oil, supported by an externally validated LCA (life-cycle assessment) which demonstrates it delivers a 90% reduction in greenhouse gases when compared with traditional palm oil. Clean Food Group’s oil has been designed as a drop-in ingredient that can be substituted in a number of consumables, including baked goods, confectionery and cosmetics applications.
Commenting on the news, Alex Neves said: “The capital raised with Clean Growth Fund will allow us to accelerate the scale-up of our technology platform while advancing critical regulatory and commercial pathways, with a fully funded commercialisation plan in place well into 2025. We are delighted to be working with the Clean Growth Fund team, led by Beverley Gower-Jones, who is equally passionate about accelerating innovation to help address climate change and to create a healthier, more sustainable, global food system.”
FinSMEs
26/03/2024