Funding advances project development for new facility that will be the first purpose-built commercial precision fermentation plant in the United States
RICHMOND, Ind., April 12, 2023 (GLOBE NEWSWIRE) -- Liberation Labs, industrial biotech’s fabrication partner, has secured $30 million in equipment financing to advance development of its first commercial-scale biomanufacturing facility in Richmond, Indiana. The new facility will have a fermentation capacity of 600,000 liters with a fully dedicated downstream process (DSP). Groundbreaking is expected in June 2023 with initial plant startup by the end of 2024.
Liberation Labs is focused on enabling the commercial availability of bioproducts that will meet the growing demand from existing major CPG and ingredient brands as well as from the emerging crop of precision fermentation-focused startups. The new facility will be the first purpose-built commercial-scale precision fermentation plant in the United States. The company has commenced the detailed design engineering phase and has placed orders for all of the major engineered equipment, including its 150,000 liter fermenters and DSP separation and drying units, all while continuing to build out the engineering and operations teams.
“This new financing, combined with our seed raise, allows us to not only secure all the needed equipment, but also to continue investing in our team to move the overall project forward at speed,” said Mark Warner, co-founder and CEO of Liberation Labs. “Traditionally it is challenging to secure this kind of funding for a first-of-a-kind facility, but this lease financing reflects the belief in our vision and strong team by our committed equity and equipment finance investors.”
The facility comes at a time of increasing focus on both the importance of a domestic biorefining industry, and the current lack of major projects. In September 2022, President Biden launched a National Biotechnology and Biomanufacturing Initiative designed to stimulate development and create domestic jobs, build stronger supply chains, lower costs for Americans. The new facility, the first in the US fully dedicated to novel bioproducts, could catalyze market demand, commercializing innovation among food, chemical and materials biotechnology companies and their associated economic, health and environmental benefits.
About Liberation Labs
Liberation Labs is commercializing precision fermentation with a global network of purpose built manufacturing facilities that enable the next wave of biotechnology advancements to produce bio-based consumer products at scale. We combine modern technology with fit-for-purpose design to bring reliable and cost-effective solutions that meet customer demand across the world. More information is available at www.liberationlabs.com.
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