HutanBio extends seed round to £3m to fast-track growth

26 Jun, 2024
Tony Quested
Hot on the heels of a recently announced key hire and strategic growth strategy, HutanBio in Cambridge has advanced its seed round to £3 million with investment from UKI2S.
Courtesy – HutanBio

HutanBio is on a mission to disrupt the biofuel industry, scaling up its HBx program to make carbon-negative biofuels to meet the challenge of transitioning to net zero in the marine and heavy transport sectors.

The additional investment will accelerate its growth plans. It demonstrates growing interest in low-carbon fuel technologies to support the drive to NetZero in the complex and more challenging Maritime and Aviation sectors.

UK Innovation and Science Seed Fund (UKI2S) will join existing lead investor, Clean Growth Fund. The commitment from UKI2S, a publicly funded organisation specialising in early science and knowledge-based innovations that have high-impact potential – managed by impact-led Future Planet Capital (Ventures) Limited – further bolsters the growing confidence in HutanBio’s technology and its future potential.

The HBx biofuel platform represents the culmination of 10 years of research and the world’s largest-ever marine microalgae bioprospecting programme.

HutanBio has not only addressed a series of social and environmental challenges faced by other biofuel developments but also identified ways to utilise harmful carbon emissions from high polluting industries such as cement and steel production.

Headquartered at St John’s Innovation Centre, HutanBio has R & D pilot sites in Malaysia.

Oliver Sexton, Investment Director at UKI2S said: “UKI2S is committed to investing in technologies that have a significant positive environmental impact.

“HutanBio's innovative use of biology for low carbon fuel production aligns perfectly with our vision. We believe in its mission to make sustainable fuels and are excited to support its efforts in the battle against climate change."

Paul Beastall, CEO of HutanBio, adds: “This investment is not just a financial boost but also a strong vote of confidence in our mission to harness advanced biology to produce low carbon fuels. Bolstered by this additional investment we can accelerate our strategic growth plans and bring our innovative solutions to market quicker.”