CGF announce Holiferm as their first investment in biotech
CGF (Clean Growth Fund) have announced that they have invested in Holiferm as their first foray into biotechnology.
We are pleased to announce we our the first investment for CGF in the UK's biotech sector. They have invested in Holiferm to help us bring ecofriendly ingredients to the mass market that will end the use of fossil fuels and tropical oils in the manufacture of consumer products such as shampoo, detergents, laundry power and shower gels.
The investment, alongside Rhapsody Venture Partners and ICOS Capital, will support us in opening a new commercial production plant - planned to be at Wallasey, Merseyside - that will employ 30 people. It will produce over 1,000 tonnes of biosurfactants a year for global supply, including for our existing customers and distributors, such as MixCleanGreen, Starbrands Group, Azelis and Eurosyn. The new investment will also support the launch of new biosurfactant products and our R&D work with BASF.
Richard Lock, our managing director, stated "We are pleased to make another announcement and demonstration that greenchemistry for sustainability ... it is no longer if but when... the world needs technologies like Holiferm. Fermentation feeds, fermentation quenches thirst and now fermentation cleans up!"
Ben Dolman, our CEO, further explained "I'm really excited that Clean Growth Fund have invested in Holiferm to further support the build of our sophorolipid biosurfactant plant and bring biosurfactants to market!"
Jonathan Tudor, Investment Partner at the Clean Growth Fund, said: “Holiferm’s work to replace fossil-fuels with biobased and biodegradable ingredients in everyday consumer products is a world-beater – removing the need for petrochemicals and tropical oils, both of which cause significant environmental damage, in the manufacture of everyday, mass-market consumer products.”
“By supplying FMCG companies worldwide that are committed to reducing their carbon footprint and switching to bio-based ingredients, the environmental and economic potential of Holiferm’s “HoneySurf” ingredients are immense.”
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