Tuesday 19 November 2019

Gresham House invests £1.2m in coffee-based biofuel firm

Gresham House has announced it is investing £1.2 million into waste coffee grounds recycler bio-bean.

The specialist alternative asset manager said the investment, which is made up of £800k of equity and £430k of debt. represents 30% of the £4 million funding round announced by bio-bean in April 2019.

The investment is split between two Gresham House Venture Capital Trusts (VCTs) - it aims to enable bio-bean to expand its biofuel production capacity and improve efficiencies, in order to facilitate expansion into mainland Europe and develop new products for the flavour and fragrance market.

Bozkurt Aydinoglu, Investment Director at Gresham House and Co-Manager of the VCTs said: “bio-bean has a unique proposition and hard asset backing, meaning it fits very well within our existing sustainable investment portfolio.

"We look forward to seeing the fruits of the team’s labours as they build scale and diversify their product portfolio."