The study 'Engineering Biology: The time is now' shows that sustainability is a key driver of corporate interest in biotechnology. More than 70% of companies expect to achieve their sustainability goals significantly faster with the help of biosolutions. Other motives include cost reduction, product optimisation and increased safety of products and production processes. The study also highlights the challenges that need to be overcome to realise this potential, ranging from market perception and acceptance to high costs and a lack of qualified specialists.
Berlin-based foodtech Formo raises 61 million US dollars
The Berlin-based foodtech start-up Formo can report another success: Following the sales launch of its first vegan cheese alternatives at the beginning of September, the fermentation specialist has gained REWE Group as a new investor. As reported by the German business newspaper Handelsblatt, the retailer was involved in a recently announced Series B financing round in which Formo was able to raise fresh capital of 61 million US dollars. Formo has now raised a total of 117 million US dollars.