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Traders make $10.5M wager you may eat wooden

RESEARCH TRIANGLE PARK – Arbiom has raised an extra $10.5 million from 9 buyers to make use of as working capital to advance the startup firm’s “wood-to-food” know-how, in keeping with an SEC submitting.

The corporate developed know-how that may “produce protein with out utilizing typical plant or animal meals sources,” in keeping with its web site.

As a substitute, the bioprocessing know-how platform is ready to remodel wooden into meals.

Right here’s how, in keeping with the web site: The know-how developed by the corporate turns wooden into “intermediate supplies with a variety of purposes, notably as fermentation medium to develop microorganisms,” the web site notes.  These microorganisms are single-cell protein organisms, and upon additional processing, the corporate says the wood-to-food course of will be accomplished.

Durham wood-to-food startup Arbiom raises $10M

Constructing on prior funding, assist

The corporate beforehand raised $10.8 million from three buyers in July 2020.  In line with the corporate’s web site, 2020 was the yr that it started business subject trials with feed and meals stakeholders.

Earlier this yr, the corporate, which describes itself as “a French-American firm specializing within the manufacturing of high-quality proteins for feed and meals purposes by processing agricultural and wooden residues” in a press assertion, obtained a €12 million grant from the France Relance funding program.

That grant cash will fund the development of a business facility that can make use of greater than 40 employees within the Auvergne Rhône-Alpes area of France, in keeping with the corporate.  The assertion launched by the corporate in February notes that this deliberate undertaking can be the corporate’s first manufacturing facility and may very well be operational by 2024.

Related:  Egypt Startups Use Tech in Meals Sector Innovation

Arbiom launched in 2011 following a proof of idea inside a laboratory, then demonstrated its know-how at “pilot plant scale” in 2014, in keeping with its web site.  In 2015, the startup received an Innovation 2020 Award.

Then, in 2017, the corporate launched SYLFEED with €9M in grant funding from the European Union’s Bio-based Industries Joint Endeavor beneath the Horizon 2020 program.  That program, Horizon 2020, would supply an extra €8M in grant funding in 2019.

Marc Chevrel, the corporate’s CEO, signed the newest SEC submitting.

The corporate didn’t instantly reply to a request to touch upon this story from WRAL TechWire.

 

 

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