UK and Netherlands-based carbon dioxide recycling company Deep Branch has raised £4.8 million in funding from the UK government’s Department for Business, Energy & Industrial Strategy (BEIS) £1 billion Net Zero Innovation Portfolio.
Part of the £20-million Carbon Capture, Usage and Storage (CCUS) Innovation 2.0 programme, the funding will be used to finance the Deep Blue C project to integrate carbon capture and low-carbon hydrogen ecosystems. The startup had earlier completed an €8 million Series A investment round last year.
After the completion of the Deep Blue C project, it will deliver a feasibility study for its first commercial production unit of single-cell protein Proton.
The startup is addressing the sustainability of animal farming and the reduction of carbon dioxide emissions with their CO2-to-protein technology. According to the firm, its ingredient Proton is not just a more environmentally friendly feed ingredient but will also provide a regular supply of a price-stable, price-competitive, and nutritionally optimal bulk protein.
Proton is planned to go live in 2027. Going forward, the platform will roll out multiple Proton production facilities, with an anticipated 600,000 tonnes per annum global capacity by 2030, utilising over one million tonnes of carbon dioxide every year.
Deep Branch CEO Pete Rowe said: “This grant builds on our Innovate UK funded project, which has enabled us to develop strong commercial partnerships at both ends of the value chain.”
Energy and climate change minister Greg Hands added: “As we accelerate the energy independence in the U.K. by boosting clean, home-grown, affordable energy, it’s crucial that our industries reduce their reliance on fossil fuels. This investment will help them to not only cut emissions but also save money on energy bills, on top of supporting jobs by encouraging green innovation across the UK.”
Yvonne Armitage, biotechnology director at CPI, added: “We’re excited to collaborate with the company’s experts to develop new technology that will ultimately improve the health of our planet. We bring a wealth of technical support to the Deep Blue C project, having supported many biotech companies to deliver incredible innovation projects.”