Dr Aled Roberts, CEO of Deakin Bio, a Frontier IP Group PLC (AIM:FIPP) portfolio company, joined Steve Darling from Proactive to announce a successful £693,000 equity funding round for the company’s portfolio business, Deakin Bio-Hybrid. This oversubscribed round will drive forward the development and scaling of their low-energy process aimed at creating sustainable bio-based materials as alternatives to traditional ceramics. The funding now values Deakin Bio at £2.69 million post-transaction, with Frontier IP holding a 24.8% equity stake.
Dr Roberts explained that Deakin Bio’s innovative technology involves recycling organic waste, such as chickpea broth or algae, and combining it with waste minerals like crushed limestone. The resulting composite materials closely mimic the look, feel, and properties of ceramics but are produced without the need for high-temperature firing or glazing. Additionally, the technology can be integrated into existing mass manufacturing equipment, making it highly adaptable for the industry.
Deakin Bio's eco-friendly solution offers a remarkable 94% lower carbon footprint than conventional ceramic tile production, with products containing over 95% recycled content. The company envisions a broad range of applications for these bio-based materials, expanding their use into various molded ceramic-like products, offering a more sustainable alternative to traditional manufacturing methods.