Green Bioactives has successfully obtained a grant of up to £1.1 million from Scottish Enterprise, marking a pivotal boost in its endeavors to produce sustainable plant-based natural products. According to the company, this substantial grant will spearhead an 18-month research and development initiative aimed at advancing Green Bioactives' Plant Cell Culture Technology. The initiative holds the promise of scaling up production to meet the surging demand within the cosmetic and personal care industries for ethical and environmentally-friendly ingredients.
With the funding, Green Bioactives is set to enhance its capabilities, aiming to advance the sustainable production of plant-derived ingredients, thereby offering viable alternatives to traditional methods like wild-harvesting and synthetic production.
Leah Pape, head of high growth services at Scottish Enterprise says, “Green Bioactives is a prime example of the kind of ambitious and innovative companies we are keen to see scale-up in Scotland and we are proud to support this growth. By providing funding and wraparound support, we are confident we will help the company really revolutionize the skin care industry, with the benefits that will bring to the company and in turn Scotland’s economy.”
David McElroy, MD, CEO of Green Bioactives adds, "We are incredibly grateful for Scottish Enterprise’s continued support, both financially and in helping to develop our capacity and capabilities. This funding allows us to accelerate progress of our innovative biomanufacturing platform, which we believe will revolutionise the sustainable production of high-value plant-derived ingredients across several industries. This grant will play a key part in ensuring we can scale our technology and bring real-world solutions to market."
