Sustainable protein company Unibio announced the completion of a USD 15 million (EUR 12 million) bridge financing round.
Arranged by West Hill Capital and predominantly existing for stakeholders, the bridge round “was increased due to significant investor demand and was 2.2x oversubscribed,” Unibio said in a 29 June press release. The capital raised in the round will be used by the firm for general corporate purposes and will support its future development plans.
The company’s valuation now exceeds USD 300 million (EUR 252 million), it said.
Unibio also said its partnership agreement with Stafilies, the holding company of Protelux, has successfully closed. The two companies are working together via Protelux, the first industrial-scale plant producing Uniprotein.
“As part of the transaction, the intellectual property and experience gained by Protelux in constructing and operating the world’s first industrial-scale U-Loop fermenter will be shared with Unibio and can be leveraged when designing and building similar facilities around the world. Following the partnership Stafilies is now a significant shareholder in Unibio,” Unibio said.
A sustainable protein systems company, Unibio produces protein for fish and animal feed via the conversion of microbial fermentation to any natural gas or methane, including bio-gas. The company recently appointed David Henstrom, formerly of Cargill, as its new CEO, a role he has officially now assumed, Unibio Chairman Jan Boeg Hansen confirmed.
“It has been an extremely busy and successful year for Unibio, with the commencement of industrial production and the completion of the capital raising. The confidence placed in us by our shareholders is testimony to the strong story that Unibio has to tell and now that David has joined us we are working hard to continue the development of Unibio at a high pace,” Hansen said.
