Funding

[Funding alert] Huntingdon-based HutanBio Secures £2.25M in Funding

Jan 20, 2024 | By Startup Rise EU

Huntingdon-based HutanBio secures £2.25M in funding. The company intends to use the money to lower greenhouse gas emissions, speed up the commercial application of its HBx biofuel oil, and expand its technical and business development teams in Cambridge.

Huntingdon-based HutanBio secures £2.25M in funding. The company intends to use the money to lower greenhouse gas emissions, speed up the commercial application of its HBx biofuel oil, and expand its technical and business development teams in Cambridge.

HutanBio is a biotechnology company headed by CEO Paul Beastall and founded in 2019 by John Archer PhD, Noor Azlin Mokhtar PhD, and Suhaiza Jamhor. The company produces HBx bio-oil, a high energy density, low carbon, sulfur-free fuel solution that is sustainable and scalable and uses CO2 greenhouse gas as a feedstock for algae grown in specialised 'bio-reactor farms'.

Read also - European Tech Community Upscalers Secures Pre-Seed Funding

These farms will be constructed on unproductive, non-agricultural semi-arid and arid terrain in nations with plenty of sunshine. HutanBio planned and created these farms, and artificial intelligence will regulate them to maximise production.

Paul Beastall said: “We have designed HBx from the outset to blend seamlessly with existing infrastructure and supply chains. It requires no engine or vessel modification, meaning adoption of HBx can be immediate and without affecting operational efficiency. Vessel life can be maximised whilst carbon emissions are reduced without changing ship and port operations which is crucial for rapid deployment.”

About HutanBio

HutanBio, They are on a quest to demonstrate that Mother Nature really does have the answers, because they think they know them. ten years of intensely laborious scientific study, tremendous hours, and sacrifice from the individual.

RECOMMENDED FOR YOU

recomd
Funding
[Funding alert] Warsaw Graphic Developer Startup Gotiva Raises €1.11 Million in Seed Funding
Startup Rise EU
Jan 19, 2024
recomd
Funding
Investcorp funding news – Investment Firm Investcorp Secures Investcorp Technology Partners V Fund, at $570Million
Startup Rise EU
May 9, 2024
recomd
Funding
[Funding alert] Micromobility Operator Voi Secures $25 Million in an Oversubscribed Round Funding
Startup Rise EU
Mar 13, 2024

Recommended Stories for You

story
Funding

Inspeq funding news – Full-stack AI Ops Platform Inspeq Secures $1.1Million in Funding

Startup Rise EU May 28, 2024

story
Funding

[Funding alert] Oxford Quantum Circuits (OQC) Raising $100 Million in Series B Round Funding

Startup Rise EU Nov 28, 2023

story
Funding

[Funding alert] Austrian Foodtech Startup Kern Tec Secures €12 million Series A Round Funding

Startup Rise EU Sep 26, 2023

story
Funding

[Funding alert] GIN E-Bikes Raises £510,000 in Funding

Startup Rise EU Jan 2, 2024

story
Funding

[Funding alert] London-based Anima Secures €11 Million in Series A Round Funding

Startup Rise EU Mar 19, 2024

story
Funding

[Funding alert] London-based NeoPhore Secures Additional £9.6Million in Series B Round Extension Funding

Startup Rise EU Feb 2, 2024