27th Aug 2024 19:49
Frontier IP Group PLC - London-based intellectual property commercialisation company - Nandi Proteins, in which Frontier owns just shy of a 20% stake, raises over GBP500,000 through convertible loan note to investors including the UK National Endowment for Science, Technology & the Arts and Scottish Enterprise. Says Nandi aims to raise total of GBP1.5 million, which it will meet after a GBP1 million equity funding round backed by UK body's investment arm Nesta Impact Investments. Expects the funding round to be completed later this year. Nandi to use proceeds to develop its egg white replacer, which has "attracted strong interest from the baking and meat alternative industries," Frontier says. The replacer uses vegetable proteins as a substitute for egg whites in products including gluten-free bread and muffins and allows vegetarian products to be marketed as vegan. Read More
