• Liberation Labs

  Participated · Debt Financing · Oct 2024

  Liberation Labs is an early-stage US biomanufacturing company developing a purpose-built precision fermentation platform called Bio3 and a launch facility in Richmond, Indiana. The company is building a 600,000 L launch plant scheduled to be operational in Q1 2025 and is studying a flexible-use, commercial-scale 4 million L plant. Liberation Labs has no current revenues; its monthly operating costs are reported at $0.4 million and total liabilities were $43.8 million as of June 30, 2024. Management says it has signed letters of intent with potential customers representing over 200% of the launch facility’s available capacity in initial years across food, fuel, materials and pharmaceutical markets. Prior financings include $33.5 million raised in equity-linked instruments and secured commitments for an additional $55 million, including $30 million in equipment financing and a $25 million loan from Ameris Bank. The company has also received a $1.39 million DoD award for a feasibility study that could lead to further government funding for expanding bioindustrial manufacturing capacity. Liberation Labs is developing Bio3, a purpose-built biomanufacturing platform aiming to be the industrial biotechnology industry's global fabrication partner. The platform is designed to address a critical bottleneck faced by fermentation companies by offering design, build and operation of biomanufacturing facilities. The company broke ground in June 2023 on its first facility in Richmond, Indiana, which when complete will have 600k litres of fermentation capacity and potential expansion of an additional 4 million litres. The project is approximately halfway through its build program and, subject to completion of a Qualified Financing, is expected to be commissioned in Q1 2025. Financially, Liberation Labs has raised US$33.5M in equity-linked instruments to date and has formal commitments for US$55M in non-dilutive funding, including US$30M equipment financing and a US$25M USDA-backed loan from Ameris Bank. Recent financing activity includes a US$12.5M round that featured a US$10M Secured Convertible Promissory Note from Agronomics to support continued construction ahead of the planned Series A. Liberation Labs is building a purpose-built commercial-scale precision fermentation facility in Richmond, Indiana, with 600,000 liters of capacity expected to be operational by the end of 2024. The plant will produce bio-based proteins and other building-block ingredients for consumer packaged goods companies and industrial manufacturers, and the site covers end-to-end processing from sugar feedstock to final product. The company says the facility is designed for higher throughput and lower all-in manufacturing costs compared with retrofitted pharma CMOS and can run a broader range of organisms, including methanol-fed Pichia. Construction milestones include footings installed in August, concrete poured in September, and long-lead equipment ordered and under construction. Liberation Labs has continued to build out its corporate staff and local team as it prepares for operation. Financially, the company has secured $20 million in seed funding (including Agronomics and CPT Capital), $30 million in equipment financing, and a new $25 million USDA-backed loan while it raises a Series A. Liberation Labs commercializes precision fermentation and develops purpose-built manufacturing facilities to enable large-scale production of bio-based consumer products. The company is advancing its first commercial-scale precision fermentation plant in Richmond, Indiana, which it describes as the first purpose-built commercial-scale precision fermentation facility in the United States. The Richmond facility is planned to have 600,000 liters of fermentation capacity and a fully dedicated downstream process. Liberation Labs has commenced detailed design engineering, placed orders for major engineered equipment (including 150,000-liter fermenters and DSP separation and drying units), and is building out engineering and operations teams. Groundbreaking was expected in June 2023 with initial plant startup targeted by the end of 2024. The company secured $30 million in equipment financing and completed a seed raise that together support equipment procurement and continued team investment. Liberation Labs develops a precision fermentation platform and a global network of purpose-built manufacturing facilities to produce alternative proteins at scale. The company is led by CEO Mark Warner and is focused on commercializing its platform through large-scale production sites. With the recent seed financing, Liberation Labs plans to build out a 600,000-liter production facility as part of its initial manufacturing footprint. Near-term priorities include finalizing site selection, completing Front End Loading level 3 (FEL-3) engineering, ordering long-lead equipment, and building the operations team. The company projects commissioning and commercial production of its first facility by the end of 2024. The raise funds these capital and operational milestones as it scales toward commercial operations.

No current team members are available.