Fermtech, an Oxford-based startup developing what it claims to be a zero-carbon protein, has raised over £325,000 in a crowdfunding round launched on the Crowdcube platform last month. The company has already surpassed its initial funding goal, yet the campaign remains open for another week.
Using solid-state fermentation, the fungus Aspergillus oryzae — known as koji and widely used in foods — and spent grains from local breweries as feedstock, Fermtech produces its non-GMO and affordable protein that is said to deliver great taste in plant-based foods, from baked goods to snacks to plant-based meat and cheese.
With the capital, the startup will pilot-scale production to launch its first product, Nutriferm. Additionally, the company will enhance its R&D efforts to “fine-tune” its patent-pending fermentation processes and expand market reach via strategic marketing and distribution channels. Nutriferm has been in trials with major food companies, including Associated British Foods, Upfield, and Saputo (Cathedral City), according to the biotech.
Making a zero-carbon protein
Solid-state fermentation, a microbial fermentation process, can be implemented in standardized production equipment, reducing capex costs and allowing Fermtech to produce proteins that match the price of plant-based proteins. Meanwhile, by upcycling waste streams such as spent grain from beer production, the fermentation process, “powered entirely from its own energy and producing no agricultural footprint,” reduces its environmental impact.
“Circularity sits at the heart of what Fermtech does, using the power of biology to take unwanted materials and get value from them”
In addition, the fermentation process delivers a digestible protein that, according to the biotech, offers essential amino acids, improving the nutritional features of products. It also provides taste-enhancing functions, allowing for the reduction of salt or cocoa in foods, saving money and resources.
Fermtech has won OxLEP‘s Most Innovative Business 2023 award and has been selected for investment by the VC Carbon13 to support its expansion to pilot-scale production. As a B2B sustainable protein supplier, Fermtech partners with clients to create products that stand out in taste, nutrition, and sustainability.
CEO Andy Clayton shared with vegconomist, “Circularity sits at the heart of what Fermtech does, using the power of biology to take unwanted materials and get value from them. It’s sustainability and economics hand in hand. We’re grateful to our supporters and investors in this round, so we can now get the business ready for pilot-scale production.”
