Deep Branch has secured £4.8 million in funding from the Department for Business, Energy & Industrial Strategy (BEIS) £1 billion Net Zero Innovation Portfolio. Moreover, the funding is part of the £20 million Carbon Capture, Usage, and Storage (CCUS) Innovation 2.0 program. It seeks the deployment of next-generation CCUS technology in the UK.
Thereby, this funding will finance the Deep Blue C project. More in detail, this integrates carbon capture and low-carbon hydrogen ecosystems. Besides, the project aims an acceleration in Deep Branch's growth as it commercializes its CO2-to-protein technology platform.
Thus, the company will reduce the cost of design optimizations, lower capital expenditure, and the cost of goods sold for its core fermentation process. Also, to improve downstream processing.
Further, CPI has secured the funding. It collaborates with partners in industry, academia, government, and the investment community to accelerate the development and commercialization of innovative products.
Both companies have jointly developed a "robust" basis of safety for the process. This is already operating at a pilot scale, according to a press release.
Regarding BEIS funding assurance, Deep Branch's CEO, Pete Rowe, commented: "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. These include Drax Power Group at its biomass power station and leading sustainable aquafeed producer BioMar."
On the other side, he mentioned that Deep Blue C will allow for a "significant increase in the production efficiencies of Proton™". Looks like, "Proton™ will ensure a highly significant saving in carbon footprint for feed producers. It will switch from concentrated soybean meal or fishmeal, without an unjustifiable price premium".
In addition, Yvonne Armitage, Biotechnology Director at CPI, added: "We're excited to build on our solid working relationship with Deep Branch. Besides, collaborate with the company's experts to develop new technology that will ultimately improve the health of our planet. We will bring a wealth of technical support to the Deep Blue C project. We have supported many biotech companies to deliver incredible innovation projects."
Finally, Deep Branch's first commercial production unit single-cell protein Proton™ is planned to go live in 2027. When the company will deliver a feasibility study. Furthermore, it is planning multiple additional Proton™ production facilities, with an anticipated 600,000 tonnes per annum global capacity by 2030, utilizing over one million tonnes of CO2 every year.
Deep Branch and BioMar already signed an agreement whose first step is to optimize salmon feed using Proton™.