In Scotland, local biotech engineering company uFraction8 has secured over $3.4m in new investment following the completion of a funding round led by the Foresight Group.
Based in Falkirk with a fully-owned subsidiary in Poland, uFraction8’s microfiltration technology is designed to optimize cell and biomass production, offering a sustainable, energy-efficient alternative to traditional methods used in the production of food, feed, and bio-based products.
The latest investment round also includes funding from University of Edinburgh’s in-house venture investment fund Old College Capital, Scottish Enterprise, AlwynCapital, Thia Ventures and a grant from the Polish Agency for Enterprise Development.
The funds will be used to further commercialize uFraction8’s technology, originally developed at the University of Edinburgh’s School of Engineering. The company’s innovation provides applications across several key markets, including microalgae and biopharma which are forecast to grow to $3bn and more than $30bn by 2030 respectively. The investment capital will also support further technology development to help transform microalgae industry production processes and drastically reduce the cost of products.
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Tags: microalgae, Scotland, uFraction8
Category: Fuels
