HydRegen secures six-figure funding package for proprietary enzyme platform
HydRegen, the revolutionary bioscience company, enables sustainable chemical manufacturing using their proprietary enzyme-based redox platform. The company has received £385,000 in new funding from the UK Innovation & Science Seed Fund (UKI2S), alongside private investors, to work in collaboration with pharmaceutical and fine chemical companies that want to reduce their costs and environmental impact.
Development of greener and less wasteful processes is at the forefront for many companies who are under increasing regulatory, policy and financial pressures to improve their sustainability. HydRegen is addressing unmet needs in the chemical sector, most specifically around the challenges associated with redox reactions, their waste generation and use of toxic metals.
The newly raised funds will enable HydRegen to invest in the people and resources required to develop and scale up its platform and subsequent implementation into new chemical processes.
HydRegen will work alongside major UK-based pharmaceutical and chemical company Almac Sciences, part of the Almac Group, to evaluate a joint technology development project for large-scale manufacture of a commodity chemical. The project will use enzyme technologies from both companies, in a multi-enzyme system, to develop a low-cost manufacturing process, producing cost-effective green alternatives to commodities.
Since spinning out from the University of Oxford in 2021, HydRegen has focused on implementation of their new strategies for reducing the environmental impact of active pharmaceutical ingredient (API) manufacturing, by switching the power source for biocatalysis from glucose to hydrogen gas.
With a vision to replace finite resources, like metals, with environmentally and economically sustainable alternatives, HydRegen believes it must focus on lowering the barrier to entry for evaluation and scale-up of redox bioprocesses. This is something that Governments around the world are also pushing for as they encourage energy-intensive businesses to share expertise and come up with radical new innovations to help reduce their carbon footprint.
Contributing £300,000, UKI2S is a national seed investment fund that nurtures innovative businesses, providing the patient, long-term committed capital and strategic advice they need to flourish.
Dr Holly Reeve, CEO at HydRegen said: “We are very excited to have received the funds required for us to take our enzyme platform to the next stage and move another step closer to commercialising our technology in applications that will help our clients meet their Net Zero goals.
“This additional funding provides us with a huge opportunity to work with world-leading speciality chemical companies on scaling up the production of our biocatalysts and ultimately, licensing our technology across a wide range of applications. This research and testing could help HydRegen to become part of the ‘advanced manufacturing tool-box’ across the chemical industry.”
Andy Muir, Investment Director at UKI2S, added: “Backing companies with sustainability at their core is a major priority that will help shape the economy and human lives in a positive way. We are delighted to support HydRegen’s innovative platform that aims to catalyse the much-needed transition to net-zero chemical manufacturing and improve the pharmaceutical industry’s impact on the environment.”