Alternative feed ingredient producer Deep Branch raises €8m

UK-based alternative feed ingredient producer Deep Branch has completed an €8M Series A investment round.

The round was led by Novo Holdings and DSM Venturing, with participation from Total Carbon Neutrality Ventures and Barclays Sustainable Impact Capital.

Founded in 2018, Deep Branch uses microorganisms to convert clean carbon dioxide into food for chickens, fish and pigs, thereby supporting sustainable food production.

The company has already developed Proton, an environmentally friendly feed ingredient that can replace conventional livestock feed.

Deep Branch CEO Peter Rowe said: “We regard our technology as a platform that we will leverage to address new markets with Proton, as well as expanding our product line to more CO₂-based products.”

The company’s latest fundraising will complement a combined €4m in non-dilutive funding secured from UK and EU grant-funded projects scheduled from Q4 2020 to Q1 2023.

The proceeds will be utilised to complete Deep Branch’s Scale-Up Hub at the Brightlands Chemelot Campus in Limburg, the Netherlands.

The company also plans to use a portion of the funding to initiate the production of pilot-scale batches of Proton and undertake key engineering design work for its first commercial-scale production facility.

Total Carbon Neutrality Ventures managing director Cindi Choi said: “Having first met the Deep Branch team two years ago, it is impressive to see the progression from the first proof of concept to fine-tuning the right recipes for Proton with key partners in the feed industry.

“Deep Branch is now putting the building blocks in place needed to accelerate the scaling of production and we’re thrilled to help fuel their momentum. Their innovation could be instrumental to decarbonise the agri-food industry, which accounts today for close to a 1/4th of global greenhouse gases emissions annually.”