Eden Brew prepares for market, says it needs to tone down its milk colour

Eden Brew is back in the financial market wanting up to $20 million to continue development of its fermentation process.

The company last year said it had pioneered a way of creating casein micelles without the cow.

It has been continuing to develop its science at the CSIRO's Food Innovation Centre in Werribee, Victoria.

It is hoping after the latest round of capital raising it can take a product to market, likely ice-cream, by next year.

The company launched last July with $4 million largely from CSIRO's Main Sequence and Norco Co-Op, Australia's oldest dairy co-operative.

Eden Brew was formed by tech venture fund Main Sequence, Norco and CSIRO.

Main Sequence was formed by CSIRO in 2017 as an innovation fund to help commercialise scientific breakthroughs and has invested in 26 companies including fake meat companies like v2food.

Eden Brew CEO Jim Fader worked with Main Sequence before leaving to found Eden Brew.

The company says it has raised a further $6.9 million again from Main Sequence and also from US venture capital firm Digitalis Ventures which has backing from US multinational food snacks and vet company Mars.

Eden Brew says it now wants to raise a further $20 million.

After the $6.9 million funding round, Main Sequence now owns 39.9 per cent of Eden Brew while Norco's 292 dairy farm shareholders collectively own the second-largest stake.

Mr Fader has told media their milk-making process had now been proven and now was being fine-tuned.

One problem is the colour of the "milk" which is said to be much whiter than cow's milk.

Eden Crew is planning to release its first products late next year.

Mr Fader said Eden Brew was working closely with Norco on future commercial production options.

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