Biomass fermentation · UK (plant in Knowsley, Liverpool)

Clean Food Group

Yeast-derived oils and fats (palm-oil alternative) · cleanfood.group ↗

Grows oil-producing yeast, partly fed by food waste, to replace palm oil and other fats in cosmetics and food. The technology was developed at the University of Bath.

Stage

Early commercial (step 5 of 6)

CLEAN Oil 25 was approved as a cosmetic ingredient in the UK, EU and US (Sept 2025) and launched commercially with THG Labs (Mar 2026). Raven Botanicals' cleanser is the first consumer product made with it (Nov 2026). It is scaling up a one-million-litre fermentation plant in Knowsley, Liverpool.^{[1] [2] [3] [4] [5]}

Revenue

Early revenue

Sales to cosmetic companies began in 2026, through THG Labs and then Raven Botanicals. Revenue is not disclosed, and food uses have not launched yet.^{[2] [4] [5]}

Next Bring the Knowsley plant to full capacity.

Agronomics' holding

Fair value: £6.98m 30 Jun 2026
Portfolio weight: 5% 30 Jun 2026
Stake: 27.4% 30 Jun 2026
Invested: £1.60m since Mar 2022
Multiple: 4.36× +£5.38m
Per year: +53.4% all holdings
Last round: Seed 26 Mar 2024 · 2.6 years ago

Sources^[6]

Investments

What Agronomics put in, at the sterling cost it carries
Date	Cost	Round
Mar 2022	£0.32m	£0.323m founder's round^{[7] [8]}
1 Aug 2022	£0.58m	£0.578m Seed (led)^{[7] [9]}
26 Mar 2024	£0.70m	£0.7m in the £2.5m round^{[10] [11]}

Approvals & markets

Approved

UK, EU, USA · 12 Sep 2025^[12]

CLEAN Oil 25 as a cosmetic ingredient

HQ: United Kingdom
Selling in: United Kingdom^{[2] [4]}
Cleared in: European Union^[12], United States^[12]

Timeline

Nov 2026Commercial

First consumer product: Raven Botanicals cleanser^[4]

The Scottish skincare brand reformulated its 24 Carat Oil to Milk Cleanser with CLEANOil, replacing the oils it used before.
15 Apr 2026Funding

£4.5m raised, plus a £0.7m Innovate UK grant^{[13] [5]}

Led by Clean Growth Fund and New Agrarian. The money will finish scaling up the one-million-litre Knowsley plant.
25 Mar 2026Commercial

CLEANOil launched commercially with THG Labs^[14]

A biotech ingredient platform for the beauty industry, shown at in-cosmetics Global in Paris.
30 Sep 2025Facility

Bought the assets of Algal Omega 3^{[15] [16]}

Adds one million litres of fermentation capacity near Liverpool.
12 Sep 2025Regulatory

CLEAN Oil 25 approved as a cosmetic ingredient^[12]

Approved in the UK, Europe and the US.

Sources

Net Asset Value as at 30 September 2025 Agronomics Limited (RNS) · 13 Nov 2025
Net Asset Value calculation as at 31 March 2026 Agronomics Limited (RNS) · 18 May 2026
Net Asset Value as at 30 June 2026 Agronomics Limited (RNS) · 10 Jul 2026
Portfolio Update Agronomics Limited (RNS) · 11 Nov 2026
Clean Food Group raises £4.5M to bring world's largest yeast oil facility to full capacity vegconomist · Apr 2026
Q2 2026 Investor Report (portfolio at 30 June 2026) Agronomics Limited · 21 Aug 2026
Agronomics Leads Clean Food Group’s Seed Financing Agronomics Limited (RNS) · 1 Aug 2022
Annual Report 2022: year to 30 June 2022 Agronomics Limited · 20 Dec 2022
Annual Report 2023: year to 30 June 2023 Agronomics Limited · 27 Dec 2023
Clean Food secures £2.5m additional funding Agronomics Limited (RNS) · 26 Mar 2024
Annual Report 2024: year to 30 June 2024 Agronomics Limited · 24 Dec 2024
Clean Food Group’s CLEAN Oil 25 approved for cosmetics in the UK, Europe and US Agronomics Limited (RNS) · 12 Sep 2025
Clean Food Group secures £4.5m investment and a £0.7m Innovate UK grant Agronomics Limited (RNS) · 15 Apr 2026
Clean Food Group launches CLEANOil Agronomics Limited (RNS) · 25 Mar 2026
Clean Food Group acquires the assets of Algal Omega 3 Agronomics Limited (RNS) · 30 Sep 2025
Clean Food Group to boom with one-million litre facility buyout FoodNavigator · 25 Sep 2025