Palm oil production continues to be a major driver of deforestation of some of the world's most biodiverse habitats, impacting critically endangered species like the Orangutan, Pygmy Elephant and Sumatran Rhino.
This process combined with the conversion of carbon-rich peat soils, is issuing millions of tonnes of greenhouse gases into the atmosphere, contributing to climate change. Associated issues of exploitation of workers and child labour are also a significant concern.
Clean Food Group's mission is to be part of the solution to this environmental crisis beginning with the production of its palm oil alternative. In early 2022 the company acquired relevant intellectual property from the University of Bath where the technology has been developed over the last eight years by Professor Chris Chuck and his team.
Prior to the acquisition, in excess of £4.4 million had been spent developing the technology to the stage where it is ready for scale-up and commercialisation.
In addition, Clean Food Group has signed a two-year collaboration agreement with the University to scale the technology and bring its palm oil alternative to market. Professor Chris Chuck has joined Clean Food Group as a technical advisor and leads a team of scientists at a dedicated Clean Food Group laboratory and Pilot Plant at the University of Bath. Clean Food Group is further investing in the development of a large-scale pilot plant and securing regulatory approval for new products.
Agronomics, a listed company focused on the field of cellular agriculture, has led Clean Food Group's financing rounds to-date including their recently completed seed round of £1.65 million, with Agronomics holding a 35% interest in the company.
Jim Mellon has joined the Board of Clean Food Group following the investment by Agronomics. Other early investors joining Agronomics include AIM listed SEED Innovations Limited, a leading global food and beverage company, as well as venture capital investors.
Alex Neves, co-founder and CEO of Clean Food Group says: "With this funding round now successfully completed, we are not only well capitalised to complete the next stage of our corporate development, but are also well placed to take the next step on the path to bringing our palm oil alternative to market.
"In addition to our acquisition of the intellectual property for the palm oil alternative technology and our collaboration with the University of Bath to scale the technology, we will be investing in securing regulatory approval for our palm oil alternative ingredients in multiple markets. 
"We will also be investing in the development of a large-scale pilot plant which will allow us to enter into meaningful collaborations with commercial partners and to demonstrate our palm oil alternative within finished products. We have already received significant market interest with regards to this."
Clean Food Group is a UK-based food-tech business focused on bringing sustainable, cultivated foods to market in the UK and Europe. It operates within the fast-developing cultivated food industry, a market with opportunities driven by significant environmental, health and animal welfare concerns about existing and future consumption levels of animal protein and other foods such as palm oil.
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 foundational technology is a yeast-based alternative that has been developed over 8 years at the University of Bath by Professor Chris Chuck.
