Frontier IP Group PLC - intellectual property commercialisation firm - Notes investee Nandi Proteins Ltd has raised GBP720,000, which includes GBP360,00 from the UK government's Future Fund.
"The investment from the Future Fund, which was established to support innovative businesses through the Covid-19 outbreak, has been matched by GBP320,000 from the group and GBP40,000 invested by Shackleton Finance Ltd, which specialises in secondary venture and development capital investments. Frontier IP holds a 20.1% equity stake in the Nandi. Shackleton is also an existing shareholder," Frontier said.
Nandi is collaborating with a number of industry partners to commercialise its novel process control technology to create ingredients based on animal and vegetable proteins able to replace chemical additives and fat in processed foods.
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By Paul McGowan; paulmcgowan@alliancenews.com
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