Ingenza has been awarded two Innovate UK Sustainable Innovation Fund grants amounting to £232,000 (€266,000).
The first grant will allow Ingenza to invest in the commercialisation of production technology targeting the bioethanol yeast market, which is worth over £300 million (€344 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.
The second grant, valued at £60,000 (€68,000), 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 one will evaluate the feasibility of novel engineered Saccharomyces to convert energy from molecular hydrogen into cellular reducing power, while a larger-scale phase two project will test commercial viability, scalability and replicability of this technology.
Ingenza’s chief business officer Dr David McElroy said: “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 (€219 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 added: “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.”
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