24 Apr BioCity invests in carbon recycling start-up, Deep Branch Biotechnology
BioCity, a pioneering life science incubator and business collective, today announced investment in Deep Branch Biotechnology, a Nottingham-based carbon recycling start-up, developing technology that transforms polluters into producers.
Unlike traditional carbon storage technology that simply collects and stores carbon dioxide, Deep Branch’s carbon recycling solution converts carbon dioxide into sustainable single cell protein (SCP). The novel process provides a cost-effective solution to emitters looking to reduce their carbon footprint, while simultaneously producing a clean, nutritious and sustainable single cell protein alternative to soy and fishmeal for the feed industry.
Investment from BioCity will cover construction costs of a mobile production unit, enabling Deep Branch to demonstrate their technology using live industrial gas streams and demonstrate the high impact-potential to those in carbon-intensive industries.
Founded in July 2018, Deep Branch Biotechnology has been identified as a frontrunner for viability and potential. Named as one of the world’s top 500 deep tech start-ups by Hello Tomorrow in October 2018 and top thirty 2019 cleantech companies by Cleantech Innovate. Founders Peter Rowe and Rob Mansfield were named as part of Forbes’ European 30 Under 30 in Manufacturing and Industry in 2019. They have received invitations to speak at illustrious events, such as the upcoming 2019 “Seeds & Chips” food and innovation summit, an event that regularly boasts keynote speakers such as Bill Gates and Barack Obama.
Deep Branch is the latest graduate of the BioCity Accelerator Programme to receive funding after working closely with the in-house venture development specialists; who support hundreds of entrepreneurs in creating robust and scalable businesses.
The seed capital investment marks the twenty-sixth investment made by BioCity, further extending their portfolio of life science ventures.
Dr Imelda Juniarsih from BioCity, said: “We were impressed with the potential this new technology has on reducing global emissions. Investing in very early stage companies is a priority for BioCity. We invest in young companies to support the development of new technologies which we think could have real impact.”
“We were also impressed with the Deep Branch co-founders and what they have accomplished in a relatively short time. Scientific lead, Bart Pander, has deep knowledge of gas fermentation, commercial lead Pete Rowe brings expertise in innovation management and operational lead, Rob Mansfield has extensive experience in successfully executing synbio projects. Together, they are a powerful team.”
Peter Rowe, Deep Branch CEO & Co-founder said, “We view the next phase of our development as pivotal to the success of Deep Branch. BioCity have already supported us in many ways on our journey, but this significant financial backing will enable us to take our technology out of the lab and into the real world.”