RICHMOND, IND. — Liberation Labs has secured $30 million in equipment financing to build its first commercial biomanufacturing facility. The plant will be located in Richmond, Ind., and feature a fermentation capacity of 600,000 liters.
The facility will be the first purpose-built commercial-scale precision fermentation plant in the United States, according to the company.
“This new financing, combined with our seed raise, allows us to not only secure all the needed equipment, but also to continue investing in our team to move the overall project forward at speed,” said Mark Warner, co-founder and chief executive officer of Liberation Labs. “Traditionally it is challenging to secure this kind of funding for a first-of-a-kind facility, but this lease financing reflects the belief in our vision and strong team by our committed equity and equipment finance investors.”
The company expects to break ground in June 2023 with initial plant start up by the end of 2024.
Liberation Labs raised $20 million in a seed round this past December. The round was led by Agronomics and Siddhi Capital and includes CPT Capital, Thia Ventures, 8090 Industries and Echo. Funds.