DEVON, ENGLAND – Elemental announced on Oct. 5 that it secured a £1.37 million investment for its latest stage of growth.
The England-based Agri-Food technology company said its mission was to sustainably lower the carbon footprint of global meat production.
“The interest from investors has been overwhelming and we’re thrilled with the support we’ve received,” said Dean Hislop, chief executive officer of Elemental. “As we all strive to reduce our impact on the environment, our process technology plays an important part. The funds will help drive our ambitious plans for a period of sustained growth of the business and help inspire innovation in the meat processing industry.”
The latest investment will support the start of Elemental’s patented process technology, which helps turn what would normally be waste, into high-value, sustainable food ingredients and fertilizer products. This process enables meat processors to capture more protein and fat per animal, as well as reducing waste by converting inedible by-products into an organo-mineral fertilizer.
The funding will also contribute to the completion of Elemental’s demonstration plant in Devon, England, and the development of its first United Kingdom plant at one of Europe’s leading food producers.
Elemental said that its technology process can convert 78% of beef processing waste to sustainable products. The company explained that it will recover an estimated 20% extra edible protein and 25% fat per head of cattle.
“It has the potential to reduce global beef CO2 emissions equivalent to 50 million cattle without impacting current beef protein production levels,” Elemental said in a statement.
In 2019, Elemental raised an initial £1.5 million to build the fertilizer demonstration plant which will be fully operational later in 2021.