News & Views
Yeast Production Projects Receive Sustainable Funding Grants
Mar 28 2021
Ingenza has received two Innovate UK Sustainable Innovation Fund grants amounting to £232K to help fund development of two projects in carbon use efficiency in keeping with the UK’s goals at lowering CO2 emissions.
The first grant will be invested in commercialising production technology targeting the bioethanol yeast market, which is worth over £300 million a year globally. This project is based on REDOX chemistry manipulation and has the potential to generate substantial technology license income for the company, underpinning job protection and investment in future growth initiatives.
A second grant, to the value of £60K, will fund the development of innovative synthetic biology approaches to improve the sustainability and cost effectiveness of ethanol production for biofuels and alcoholic beverages. Phase 1 will evaluate the feasibility of novel engineered Saccharomyces to convert energy from molecular hydrogen into cellular reducing power, while a larger-scale Phase 2 project will test commercial viability, scalability and replicability of this technology. Ingenza will combine its expertise with well-developed end user relationships, contributing to a potential carbon abatement of 77 million tons and establishing an industry-leading position in the provision of industrial yeast to the fuel ethanol market.
Chief Business Officer Dr David McElroy commented: “It’s fantastic to see Innovate UK recognising SMEs like Ingenza, highlighting our role in addressing the issue of greenhouse gas emissions through the development of novel industrial biotechnologies.”
Innovate UK, as part of UK Research and Innovation, is currently investing up to £191 million to fund research and development projects with the aim of helping all sectors of the UK rebuild after the effects of COVID-19.
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