Ingenza is pleased to announce the award of two Innovate UK Sustainable Innovation Fund grants amounting to £232K. These grants will support two cutting edge projects in carbon use efficiency, which will reap major benefits for Ingenza while supporting the UK’s bold ambitions to lower CO2 emissions.
The first grant will allow Ingenza to invest in the commercialization of 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 Ingenza, underpinning job protection and the company’s 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. The initiative takes advantage of Ingenza’s expertise and 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.
Ingenza’s 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. Innovate UK Executive Chair Dr Ian Campbell explained: “In these difficult times, we have seen the best of British business innovation. Ingenza’s bold vision is an important step forward in driving sustainable economic development, while helping to realise the ambitions of hard-working people.”