Orange-based biomanufacturer Cauldron Ferm has landed Queensland government support to develop the first precision fermentation contract manufacturing facility in the Asia-Pacific.
The automated facility, which will be built in Mackay utilising Cauldron’s hyper-fermentation technology, is touted as a significant cost reduction on conventional production processes processes for food, animal feed, fibre and fuel production.
Announced by the company on Wednesday, the funding follows a $4.3 million grant through the federal government’s Industry Growth Program in August to raise Cauldron’s technology readiness level.
The state government support has not been disclosed due to ‘commercial-in-confidence’ reasons.
The industrial facility is projected to have an annual output of 1,000 tonnes of products used in the food, nutrition, materials, beauty, personal care, chemicals and biofuels sectors.
The Main Sequence Ventures-backed company’s first planned industrial facility builds on their existing 25,000-litre demonstration facility in Orange, New South Wales.
In March, the company raised $9.5 million in a series A round led by Horizons Ventures. Aside from Main Sequence Ventures, the funding round also drew support from New Jersey based venture capital fund SOSV and CIA-founded In-Q-Tel.
Support for Cauldron’s new Queensland facility is being delivered through the $415.5 million Industry Partnership Program. In August 2023, $53.5 million was added to the program to target projects aligned with the Queensland new-industry development strategy.
Among the priority industries under this strategy is the bioeconomy, which includes products like biofuels and sustainable aviation fuel.
State Development and Infrastructure minister Grace Grace said that “with the support of the Queensland government, Cauldron is a step closer towards building a first-of-a-kind facility”.
Cauldron chief executive and co-founder Michele Stansfield said the company is “honoured” to receives support from the Queensland government to bring its first industrial-scale facility to Mackay.
“This funding enables us to scale our innovative technology as a major milestone in our journey to redefine the scope of biomanufacturing,” Ms Stansfield said.
“We look forward to developing the critical infrastructure to produce essential bioproducts more efficiently and sustainably to meet growing demand.”
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