Acies Bio receives a grant SME INST from European Union
Whey2Value technology has been awarded a substantial grant from EU Horizon 2020 SME INST program. Acies Bio will set-up a prototype processing plant to launch production of organic vitamin B12 on the market through eco-innovative technology.
Followed by a successful implementation of Phase 1 SME Instrument Grant for concluding a feasibility study, Acies Bio has now been awarded a grant for pilot-scale demonstration of Whey2Value technology within Phase 2 SME Instrument. Horizon 2020 program funds high-potential innovation through a dedicated SME Instrument, which helps high-potential SMEs to develop groundbreaking innovative ideas for products, services or processes that are ready to face global market competition.
Whey2Value technology, developed by Acies Bio, is bringing to market a unique patent-pending eco-innovation bioprocess to utilize waste whey as a primary ingredient for microbial fermentation to produce sustainable high value product. Its key objective is to launch production of organic vitamin B12 on the market through eco-innovative technology, which uses waste whey as input substrate and produces as a result high value product vitamin B12 and purified water. It is solving the unmet challenge of sustainable milk processing with Make-Use-Reuse principle: from milk industries (cheese production) through waste whey management to vitamin B12 production used for the animal feed additives industry and cleaned water reused in the dairy industry again.
Whey2Value will receive financial support of 1,7 mio EUR during a two-year period, implying the project budget 2,5 mio EUR for development of prototype processing plant due to the importance of ensuring replicability and successful life performance and consequently, efficient market launch of W2V. Acies Bio has been selected among 44 or 12% beneficiaries to receive funding out of total 962 applicants.
The grant is amazing opportunity not only to demonstrate efficient performance of Whey2Value, but also to showcase the technology to interested community of potential investors, partners and customers as European Commission is fostering networking community around SME Instrument winners.