Standing Ovation, a French company that specialises in the production of non-animal caseins by precision fermentation, has received €3 million in funding.
The French government granted €2 million for its ‘CASPEX’ project as part of the ‘Agri-food Resilience and Capacity’ call for projects under the France 2030 Investment Plan operated by Bpifrance, as well as a €1 million ‘Invest EU Green Investment Loan’ from Bpifrance, Bpifrance is a French public sector investment bank.
The aim of the ‘CASPEX’ project is to develop a purification line of proteins (caseins) obtained by precision fermentation, enabling the first industrial production of ingredients for dairy products.
The French government’s funding of €2 million will be distributed over 20 months, 60% of which will be in the form of a grant.
Standing Ovation has developed a patented process for producing non-animal caseins by precision fermentation. By bringing its process to industrial scale, the French start-up is positioning itself as a key player in the field of precision fermentation.
Romain Chayot, CEO and co-founder of Standing Ovation, said: "Standing Ovation's innovative approach enables us to contribute to the food transition while significantly reducing the environmental impact of the dairy ingredients industry. Bpifrance's strong support is helping us to drive the industrial deployment of the unique process developed by Standing Ovation, an important step before the upcoming commercialisation of our ingredients. This financing also marks the commitment of public authorities to preparing the food of the future and ensuring food sovereignty."