HutanBio, Algae Biofuel pioneer, has secured a significant £2.25 million seed investment from the Clean Growth Fund, a London-based venture capital fund dedicated to supporting early-stage companies driving carbon emission reduction across various sectors.
After a decade of extensive research and development conducted globally, this investment marks a pivotal moment for HutanBio, fast-tracking the commercial utilization of their HBx biofuel oil. The funding from Clean Growth Fund is particularly noteworthy as it targets promising clean growth companies focused on reducing carbon emissions in power and energy, buildings, transport, agriculture, and waste.
HBx biofuel oil, HutanBio’s low-carbon fuel, is a high energy density, low carbon, sulphur-free solution designed to decarbonize challenging transportation sectors such as maritime and aviation. By utilizing CO₂ greenhouse gas as a feedstock, the company mimics nature’s process of converting sunlight and carbon dioxide into flammable hydrocarbons through the power of marine microalgae.
Unlike other energy crops, HBx biofuel oil avoids deforestation, agricultural land competition, and freshwater usage. Grown in specialized “bio-reactor farms” controlled by Artificial Intelligence to optimize yields, HutanBio’s patented algae thrive in brackish to very salty environments, avoiding competition for food resources.
The biofuel is engineered as a seamless ‘drop-in’ replacement for diesel and aviation fuels, requiring no modifications to engines or vessels. This ensures immediate adoption without affecting operational efficiency, contributing to the reduction of carbon emissions without disrupting ship and port operations.
The next steps for HutanBio involve expanding their engineering and business development teams in Cambridge to accelerate the pilot scheme deployment and advance automation. The company aims to deploy its bio-reactor farms on unproductive semi-arid and arid land in countries with abundant sunlight, contributing to CO₂ removal and supporting bio-economies worldwide.
HutanBio’s unique approach, rooted in first principles and leveraging the power of microalgae, distinguishes it in the pursuit of scalable, cost-effective, and clean biofuel alternatives poised to power bio-economies globally.