London, 18 December 2024

BSF Enterprise PLC 

3DBT Ltd Secures Prestigious Northern Accelerator Growth Support Grant

BSF Enterprise PLC ("BSF" or the "Company"), a leading innovator in tissue-engineered materials, is pleased to announce that its subsidiary 3D Bio-Tissues Ltd (3DBT) has been awarded a £50,000 Northern Accelerator Growth Support Grant. This funding will be instrumental in advancing 3DBT's groundbreaking lab-grown leather technology, transitioning it from lab-scale development to small-scale manufacturing, and preparing for future commercialisation.

The grant recognises the significant potential of 3DBT's scaffold-free, tissue engineering technology to deliver disruptive innovation while addressing critical environmental and ethical challenges in the global leather market, currently valued at USD 32.26 billion in 2022 and projected to grow to USD 47.89 billion by 2031. With scalability, customisability, and environmental advantages over traditional and bio-based alternatives, 3DBT's technology is uniquely positioned to meet the growing demand for sustainable, high-quality leather products.

The Northern Accelerator Growth Support Grant will fund the engagement of external resources to advance activities essential for transitioning the Company's lab-grown leather technology from lab-scale to small-scale manufacturing and preparing for future commercialisation. To achieve these objectives, the grant will support market research to identify high-growth opportunities, define revenue streams, and align commercial efforts with key sectors such as fashion and automotive. Central to these efforts is the creation of a comprehensive technology roadmap. This roadmap will define the critical steps to establish a scalable production process, detailing the entire production lifecycle and addressing technical risks. It will also provide a clear and actionable plan for setting up a pilot plant-a pivotal milestone in bridging the gap between innovation and commercial scalability.

Northern Accelerator's growth support programme is funded as part of the In-TUNE project, a collaboration comprising Durham, Newcastle and Northumbria universities and CPI (Centre for Process Innovation). It is part-funded by the UK Government through the UK Shared Prosperity Fund, supported by North of Tyne Combined Authority and Durham County Council. The growth support programme offers spinouts from partner universities grants to deliver projects that will trigger or accelerator growth in turnover and/or employment

Dr. Che Connon, CEO and Founder of 3DBT, commented: "This grant award is a pivotal moment for 3DBT. It enables us to accelerate the commercialisation of our lab-grown leather technology and underscores the growing recognition of its transformative potential. With this support, we are well-positioned to deliver a sustainable and scalable alternative to traditional leather."

3DBT remains dedicated to revolutionising the leather industry through sustainable innovation and will provide updates as the roadmap and pilot plant development progress.

For further enquiries, please visit www.bsfenterprise.com or contact:

BSF Enterprise PLC

Geoff Baker - Executive Director
Che Connon - CEO & Director

Shard Capital (Broker)
Damon Heath
Isabella Pierre
0207 186 9000
0207 186 9927

About BSF Enterprise PLC BSF Enterprise PLC (BSF) develops and commercialises cutting-edge tissue-engineered solutions, including lab-grown leather, cultivated meat, and corneal repair technologies. By leveraging its proprietary scaffold-free platform, BSF aims to deliver sustainable alternatives to traditional materials and meet global demand for environmentally responsible innovations.

About 3D Bio-Tissues 3D Bio-Tissues (3DBT) specialises in the creation of lab-grown tissues using advanced bioengineering techniques. Its scaffold-free lab-grown leather technology replicates the composition, texture, and performance of traditional leather without environmental and ethical drawbacks. For more information, visit www.3dbiotissues.com.

About Northern Accelerator Northern Accelerator is an innovative collaboration between Durham, Newcastle, Northumbria, Sunderland, Teesside and York Universities. It has transformed research commercialisation in the North East, helping address regional imbalance and strengthening the region's knowledge economy. We support academics and business leaders to create promising spin-out businesses from their world-leading academic research. These businesses create high quality jobs and raise significant investment in the North East and North Yorkshire.

Northern Accelerator is funded by Research England's Connecting Capability Fund and the InTUNE partnership which is funded by the  UK Government through the UK Shared Prosperity Fund with the North of Tyne Combined Authority and Durham County Council.