Former Cambridge scientist’s biotech startup pours in £2.25M funding for sustainable algae biofuel

Jan 22, 2024•almost 2 years ago

Amount Raised

£2.25 Million

Round Type

seed

CambrideshireTransportationInformation Technology

Investors

Clean Growth Fund

Description

HutanBio has raised £2.25 million in investment from Clean Growth Fund to accelerate the commercial use of its HBx bio-fuel oil, reducing greenhouse gas emissions and supporting the expansion of engineering and business development teams in Cambridge.

Company Information

Company

HutanBio

Location

Cambrideshire, England, United Kingdom

About

HutanBio is a technology company focused on transforming the future of long-distance transportation with HBx, a zero-carbon biofuel designed for a sustainable future. Long distance transport collectively consumes over 9 billion barrels of fossil fuels annually. With vehicles typically operating for 20-30 years and remaining in motion for up to 90% of their lifespan, the transition to net zero presents considerable challenges. Our mission is to decarbonise these sectors, quickly, cost effectively and with minimal disruption.

Related People

3 contacts

Funding Insights

Based on industry data

VC-backed spending patterns