Cauldron co-founder and CEO Michele Stansfield. Source: Cauldron
Australian biomanufacturing startup Cauldron Ferm has secured $4.3 million in the first round of Industry Growth Program funding, helping the operation scale its signature ‘hyper-fermentation’ system.
Minister for Industry and Science Ed Husic on Saturday announced the first six recipients of funding through the Industry Growth Program (IGP), a $392 million government scheme designed to help Australian startups grow and commercialise their operations.
Cauldron Ferm is the largest grant recipient so far, booking $4.3 million through the program’s commercialisation and growth stream, which contributes matched funding to projects capable of scaling to national and international markets.
Founded by Michele Stansfield and David Kestenbaum in 2022, Cauldron Ferm offers industrial fermentation processes for a wide variety of applications, spanning food proteins to cosmetics and next-generation vehicle fuels.
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