Fermentation

Precision Fermentation Firm Liberation Labs Secures $50.5M to Scale Production

Liberation Labs has closed a $50.5 million convertible note round, bringing its total raised capital for this financing effort to $75 million. This latest investment includes $31.5 million in new funding and $19 million from insider bridge notes raised earlier in 2024. Key investors in the round include NEOM Investment Fund (NIF), Galloway Limited, and Meach Cove Capital, alongside existing backers Agronomics, New Agrarian Capital, and Siddhi Capital.

“This will help build a future where precision fermentation proteins reach the industrial scale needed to meet growing demand”

The funding will support the completion of Liberation Labs’ first commercial-scale precision fermentation biomanufacturing facility in Richmond, Indiana. Expected to be operational this year, the plant will have a 600,000-liter fermentation capacity and a fully dedicated downstream process (DSP). It is designed to produce bio-based materials for food, chemicals, and industrial applications, aiming to address a supply gap in the US market for precision fermentation.

Mark Warner, founder and CEO of Liberation Labs, noted the significance of the investment: “The strong support from both existing and new investors is validation of our team, technology, and go-to-market strategy. We look forward to completing construction of our facility, starting up operations in 2025, and filling a crucial supply gap for biomanufacturing in the US market.

Liberation Labs, planned precision fermentation manufacturing facility now under construction,
© Liberation Labs

Liberation Labs focuses on precision fermentation technology to manufacture bio-based consumer products at scale. The company aims to leverage fit-for-purpose design and modern biotechnology to create cost-effective and reliable manufacturing solutions that meet industry demand.

Financial backing and future prospects

Liberation Labs has raised a total of $125.5 million in deployable capital, which includes $71.5 million in private investments from key investors like Agronomics, $30 million in equipment financing, and a $25 million loan guarantee from the US Department of Agriculture. Additionally, the company received a $1.39 million award from the US Department of Defense (DoD) to conduct a feasibility study for expanding its capacity. This study could lead to the development of an additional 4-million-liter bioindustrial manufacturing facility adjacent to its Richmond plant.

Jim Mellon, director of Agronomics, commented, “Liberation Labs is developing state-of-the-art fermentation infrastructure to transform the world’s existing fermentation capacity. This will help build a future where precision fermentation proteins reach the industrial scale needed to meet growing demand in the US and across the world.”




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