Cultivated Biosciences secures US$5 million seed funding amid US market launch in 2025

(Image credit: Cultivated Biosciences)
07 Mar 2024 --- Cultivated Biosciences, a Swiss biotech start-up, has recently announced the closure of its US$5 million seed funding round. This financial milestone will boost the development of its innovative yeast cream in collaboration with the food industry, setting the stage for a US market launch slated for 2025. The latest funding round attracted a group of investors led by Navus Ventures, a Dutch venture capital firm with a focus on sustainable food and energy systems. The investors were drawn to the company’s progress following a US$1.5 million pre-seed round in September 2022. “This funding validates our innovative approach and enables us to introduce our revolutionary yeast cream to the market,” says Tomas Turner, Cultivated Biosciences’ CEO. “We aim to make alternative dairy products appealing to traditional dairy consumers, not just to reduce CO2 emissions from dairy production but also to tap into a multi-billion dollar market opportunity.” Innovative yeast cream: In the dairy-free sector, efforts to replicate the dairy experience involve utilizing plant-based proteins combined with vegetable oils and various additives such as emulsifiers and texturizers. These attempts aim to recreate both the sensory and functional characteristics of dairy products. Cultivated Biosciences is innovating on a different approach. Its yeast cream is a natural emulsion produced through yeast biomass fermentation. This method is claimed to be non-GMO, more cost-effective, and easier to scale than precision fermentation. According to the company, this ingredient is patented and improves the stability of dairy-free products, replaces additives, and doesn’t affect taste. The yeast cream has fats, proteins, and fibers, all derived from yeast, and features a microstructure that mirrors milk fat droplets, allowing it to blend into various consumer products such as coffee creamers, milk, and ice cream. Enter the market: Cultivated Biosciences was a participant in the ProVeg Incubator program, which focused specifically on emerging food technologies and novel ingredients for the alternative protein sector. In the latest interview with Food Ingredients First, Antje Räuscher, programme & innovation manager, and Albrecht Wolfmeyer, international director from ProVeg, shared about the rising global demand for plant-based diets. This growing market aligns with the increasing consumer demand for health- and environmentally-conscious products. Cultivated Biosciences plans to launch in the US market next year and the European market in 2026, pending regulatory approvals.Edited by Sichong Wang. Cultivated Biosciences secures US$5 million seed funding amid US market launch in 2025
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Gold, Diamond Companies Joined IBM to Develop Blockchain Technology


$IBM, $BRK-A, $AU

Gold and diamond companies including Berkshire Hathaway (NYSE:BRK-A)Richline Group Inc joined with IBM to develop blockchain technology to track the origin of jewelry and ensure it is ethically sourced, the companies said Thursday.

The joint initiative, TrustChain goal to make it easier for consumers to track diamonds and precious metals through the various steps of the supply chain as they become finished pieces jewelry, the companies said.

The technology will initially help track 6 styles of diamond and gold engagement rings and is expected to be available to consumers by the end of Y 2018, the companies said.

Other firms involved in the initiative include precious metals refiner Asahi Refining, jewelry retailer Helzberg Diamonds, precious metals supplier LeachGarner and 3rd-party verification provider UL.

Blockchain 1st emerged as the system powering cryptocurrency Bitcoin (BTC) is a shared database that is maintained by a network of computers connected to the Internet.

Because it makes it easier for multiple parties to jointly create and update tamper-proof records, the firms involved in the project believe it is well suited to securely and efficiently track and prove the origin and ethical sourcing of jewelry.

Berkshire’s Richline Group had previously attempted to create a similar database using different technology, but the process was heavily manual and prone to inaccuracies.

The TrustChain platform was tested last week to track the provenance of a diamond ring across the supply chain.

Other companies in the industry have started to explore using blockchain technology.

Anglo American’s (NYSE:AU) diamond unit De Beers said in January that it aims to create an industry wide blockchain to track gems each time they change hands starting from the moment they are dug from the ground.

Companies in other sectors have also been seeking to adapt blockchain help simplify and reduce the costs some of their most data processes.

Supply chain management is one of the areas where businesses believe blockchain holds the most promise, as it involves numerous parties and is still very manual.

IBM is also working with large food retail companies on a blockchain platform to help track food supply chains and improve safety. Source: Live Trading News
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Spain: Government expects solar to dominate by 2030 with up to 77 GW

Spain has currently an installed PV power of around 4.8 GW. Image: Solaria EnergĂ­a
In a new report, the Spanish Ministry of Industry, Tourism and Digital Agenda has predicted that solar will become the country’s largest electricity source by the end of the next decade. Cumulative installed PV power could even reach 77 GW by the end of 2030, according to the most bullish scenario drafted by the Spanish government.APRIL 3, 2018 EMILIANO BELLINI

Spain’s Ministry of Industry, Tourism and Digital Agenda has published a new report, including new growth scenarios for the future of the Spanish energy market, which recognizes solar as the future cheapest source of power, and the dominance of PV above all other energy sources by 2030.

The first scenario, called the “distributed generation scenario” (DG), forecasts strong development of renewable energy distributed generation coupled with storage systems.

According to the most optimistic figures provided by the ministry, solar is expected to reach a power production capacity of 47.1 TWh by 2030, thus becoming the country’s leading power source, followed by wind (31.0 TWh), combined cycle plants (24.5 TWh), hydropower (23.0 TWh), cogeneration facilities (8.5 TWh), and nuclear power (7.1 TWh). Overall, storage is expected to account for 2.3 TWh of total demand.

Under this scenario, renewables would have a 70% share in Spain’s electricity mix, while solar PV technology would reach a cumulative installed power of around 77 GW, followed by wind with 47.5 GW.

A second, less ambitious scenario, called “sustainable transition scenario” (TS), also expects solar to become the largest and cheapest source of power by 2030, but with “only” 40 TWh of power production capacity, and no storage deployed. Under this scenario, however, renewables would still account for 67% of total power generation capacity, although part of the missing 7 TWh from solar would be partly replaced with 4 TWh of power generation from coal.

The country’s power demand is expected to increase from around 253 TWh currently, to 285 TWh (TS scenario) and 296 TWh (DG scenario), respectively. Costs of power generation, meanwhile, would range from €52/MWh in the TS scenario to €32.7/MWh in the DG scenario.

Commenting on the scenario with the highest penetration of solar and renewables, the Spanish government said that their increasing share would significantly reduce power generation costs, thus enabling savings of around €9.6 billion.

This would negatively impact the profitability of thermal back-up capacity, which will still be necessary in order to deal with fluctuations, while also making renewable energy project investment returns more problematic, the ministry said.

CO2 emissions, however, would be more than halved, and power exports to France would increase by around 236%, as a consequence of the price spread with the neighboring country, the report’s authors noted.

Spanish solar association, UNEF has welcomed the findings of the report, claiming that the Spanish government has finally acknowledged the high value of the PV technology.

“The forecast of a considerable increase in installed PV capacity by 2030, which would increase tenfold compared to current levels, is a key opportunity to allow citizens to have access to cheaper energy and to reach a more stable development model, in contrast to the dynamics of acceleration-braking-acceleration that has characterized the last years,” said association president, JosĂ© Donoso.

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