Low Carbon Innovation Fund 2 invests in bio-bean
Updated: Jan 23
ACG co-investment partner, Low Carbon Innovation Fund, have recently announced some exciting investment news:
Turquoise, the UK merchant bank specialising in energy, environment and efficiency, has invested in bio-bean for the Low Carbon Innovation Fund 2 (LCIF2). The investment of £350,000 is part of an overall round of £1.25million. The round was led by LCIF2 with the participation of 2Enable Partners, Stellar Impact and the Gresham House Renewable Energy VCTs.
The UK consumes 95 million cups of coffee every day, generating hundreds of thousands of tonnes of spent coffee grounds every year. Much of this discarded resource ends up in landfill emitting harmful greenhouse gases, including methane. bio-bean work with the biggest companies across the UK to transform these spent coffee grounds into value at an industrial scale, giving new life to a material previously considered waste, and contributing to a circular economy.
LCIF2 is funded by European Regional Development Fund, with the UK Ministry of Housing, Communities and Local Government as the Managing Authority.
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