REG - Seed Innovations Ltd - Investee Company Update: Clean Food Group

Seed InnovationsAnnouncement

05/12/2023 09:30

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RNS Number : 7181V  Seed Innovations Limited  05 December 2023

5 December 2023

 

SEED Innovations Limited

 

("SEED" or the "Company")

 

Investee Company Update: Clean Food Group

Clean Food Group awarded funding from UK Government for £1 million project

 

SEED Innovations Ltd, the AIM-quoted company investment company providing
shareholders with exposure to early-stage health, wellness and medical
cannabis companies, to which, in normal circumstances, they have limited
access to, is pleased to note that its investee company Clean Food Group Ltd
("Clean Food Group" or "CFG"), a UK-based food-tech business delivering
sustainable oils and fats solutions to the world's food and cosmetics
manufacturers. CFG has been awarded funding by Innovate UK, the UK's national
innovation agency for a £1 million project to advance novel low-emission food
production systems in the UK.

 

SEED owns 7,161,336 ordinary shares in CFG representing 5.4% of CFG on a fully
diluted basis.

The following announcement is set out without material changes or adjustments
and the announcement in full can be accessed from the following
link: https://tinyurl.com/3h6afynz (https://tinyurl.com/3h6afynz)

UK Government awards Clean Food Group funding for £1 million project to
accelerate novel low-emission food production systems

·    Funding will accelerate the commercialisation of Clean Food Group's
proprietary technology platform

·    The two-year project will be led by Clean Food Group's scale up team
working in collaboration with the University of Bath's globally renowned
research team

·    Clean Food Group is supporting the UK's broader mission to lead the
global drive for innovative bio-tech solutions to deliver a more sustainable,
secure and healthy food system

London, 5 December 2023: Pioneering UK-based bio-tech business, Clean Food
Group has been awarded funding for a £1 million project to advance novel
low-emission food production systems in the UK. The funding will enable the
rapid scale up of Clean Food Group's manufacturing capability and the
development of next generation, high value microbial oils. The funding from
the UK Government's Novel Low-Emission Food Production Systems: Industrial
Research Grant has been awarded by Innovate UK, the UK's national innovation
agency, and the Biotechnology and Biological Sciences Research Council
(BBSRC). The funding will accelerate the Company's growth plan to deliver a
market-ready technology leading to a more local, sustainable and healthy food
production system.

For the duration of the 18-month project, Clean Food Group will collaborate
with The University of Bath leveraging its world-class bio-tech research
capabilities to develop high-value, functional microbial oils. Clean Food
Group's proprietary technology platform uses proven, scalable yeast strains
and fermentation technology to convert food waste into sustainable
alternatives to traditional oil and fat ingredients.

Clean Food Group Co-founder and CFO Tom Ellen says, "We are delighted to have
been granted this funding by Innovate UK and the Biological Sciences Research
Council (BBSRC). The award is great validation of our technology platform and
commercialisation strategy and will help us rapidly scale our manufacturing
capabilities and regulatory pathways to achieve the necessary Food and
Cosmetic regulatory approval for our products. We have a long history with the
University of Bath and are thrilled to strengthen this further as we continue
working with their world-leading research team."

Chris Chuck, Professor of Bioprocess Engineering at University of Bath added,
"Ensuring that our future food production is secure and sustainable has never
been so important. It is fantastic to see the UK playing a lead role in
driving forward much-needed innovation to create a more sustainable, healthy,
and secure food system for future generations."

End of CFG's announcement

- Ends -

 

 

 

For further information on the Company please
visit:    www.seedinnovations.co (http://www.seedinnovations.com/)
   or contact:

 

  Ed McDermott        SEED Innovations Ltd             E: info@seedinnovations.co 

 Lance de Jersey                                        
 James Biddle         Beaumont Cornish Limited,        T: (0)20 7628 3396

 Roland Cornish       Nomad                             
 Isabella Pierre      Shard Capital Partners LLP       T: (0)20 7186 9927

 Damon Heath          Broker
 Catherine Leftley    St Brides Partners Ltd,          E: info@stbridespartners.co.uk

 Ana Ribeiro          Financial PR

 Isabelle Morris

 

Notes

 

Seed Innovations Ltd

SEED Innovations is an AIM quoted investment company focused primarily on
disruptive high growth life sciences and technology businesses particularly
within the medical cannabis arena. The Company's strategy is to identify
early-stage opportunities that have an upcoming investment catalyst and grow
its portfolio in terms of value whilst limiting the number of investee
companies to a level where relevant time can be devoted to each.

 

About Clean Food Group

Clean Food Group is a UK-based food-tech business delivering sustainable oils
and fats solutions to the world's 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.

 

Clean Food Group is founded by a team with key experience in growing bio-tech,
food industry and retail businesses supported by established venture capital
and family office investors with a track record supporting fast-growth
start-up companies in highly regulated industries. Clean Food Group's
proprietary technology platform has been developed as a result of 8 years
pioneering research by Professor Chris Chuck, technical lead at Clean Food
Group, and the University of Bath.

 

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