Future Greens, a Sheffield-based startup developing bioreactors that convert unavoidable food and brewery waste into heat and power, has raised £500,000 in new funding.

The package includes £340,000 in equity and a £160,000 UK Government grant, which will be used to develop its proprietary system that it says can process waste up to ten times faster than conventional anaerobic digestion, with brewery customers already lined up.

Backers in the round include PXN Group, One Planet Capital, Baltic Ventures, Venture.Community and Lifted Ventures, and the company now plans to hire chemistry and biochemistry experts.

Future Greens has now attracted more than £800,000 in funding to date and is also receiving a further £100,000 in non-dilutive support through collaborations with the AMRC and the South Yorkshire Innovation Programme at the University of Sheffield.