HutanBio Secures £2.25M Funding for HBx Bio-Fuel Acceleration
HutanBio, a biotechnology company based in Huntingdon, Cambridgeshire, UK, has recently secured £2.25M in funding. The funding round was led by Clean Growth Fund. With this investment, HutanBio plans to expand its engineering and business development teams in Cambridge and accelerate the commercial use of its HBx bio-fuel oil, aiming to reduce greenhouse gas emissions.
Founded in 2019 by John Archer PhD, Noor Azlin Mokhtar PhD, and Suhaiza Jamhor, HutanBio is at the forefront of providing sustainable and scalable high-energy density, low-carbon, and sulphur-free fuel solutions. Their flagship product, HBx bio-oil, utilizes CO₂ greenhouse gas as a feedstock for algae, which are cultivated in specially-designed "bio-reactor farms." These farms, controlled by Artificial Intelligence to optimize yields, will be constructed on unproductive and non-agricultural semi-arid and arid land in countries with abundant sunlight.
Paul Beastall, the CEO of HutanBio, expressed his excitement about the news, stating, "We have designed HBx from the outset to seamlessly integrate with existing infrastructure and supply chains.
No modifications to engines or vessels are required, allowing for immediate adoption of HBx without compromising operational efficiency. This enables vessels to maximize their lifespan while significantly reducing carbon emissions, without disrupting ship and port operations, which is crucial for rapid deployment."
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