Elemental, the UK-based Agri-Food tech company with a mission to substantially lower the carbon footprint of global meat production, has successfully raised significant investment to fund its next stage of growth.
Elemental has raised £1.37 million, using the investment portfolio platform, Crowdcube, a total which far exceeded its initial target.
This investment will support the rapid roll out of Elemental’s patented process technology, which helps turn what would normally be waste, into high-value, sustainable food ingredients and fertiliser products. This process enables meat processors to capture more protein and fat per animal, as well as reducing waste by converting inedible by-products into an organo-mineral fertiliser.
The funding will also contribute to the completion of Elemental’s demonstration plant in Devon and the development of its first UK plant at one of Europe’s leading food producers.
Dean Hislop, chief executive of Elemental, said: “The interest from investors has been overwhelming and we’re thrilled with the support we’ve received. As we all strive to reduce our impact on the environment our process technology plays an important part. The funds will help drive our ambitious plans for a period of sustained growth of the business and help inspire innovation in the meat processing industry.”
The patented technology process can convert 78 per cent of beef processing waste to sustainable products. It does this by helping to recover an estimated 20 per cent extra edible protein and 25 per cent fat per head of cattle. It has the potential to reduce global beef CO2 emissions equivalent to 50 million cattle without impacting current beef protein production levels.
This is the second successful fundraising campaign for Elemental, following an initial £1.5 million raised in 2019, which the business used to develop the technology and start the build of a fertiliser demonstration plant at its headquarters in Devon. This facility will be fully operational later this year.
