A COMPANY which has spun out from university research has received a £50,000 cash injection.

The money from the North-East Equity Matching Fund (NEEMF) came just months after BioFresh Ltd was given a six-figure sum from private equity investor Jonathan Caisley.

The firm, set up by researchers at Newcastle University in 2003 to commercialise new technology to extend the shelf life of fresh food, will use the money to market its product further across the UK and internationally.

BioFresh director Dr Jerry Barnes said: "The investment by NEEMF to match the earlier investment has given us the critical mass necessary to exploit the available opportunities.

"Our technology has the potential to save billions of pounds worldwide and market interest is keen."

BioFresh has developed and tested management systems to use ozone and ethylene to preserve and extend the shelf life of fresh food.

The technology is already attracting considerable commercial interest as a safe alternative to traditional practices to prevent sprouting in potatoes and prevent fruit and salads rotting in transit.

Newcastle-based BioFresh expects to increase staff levels from six to 25 in the next few years as it strengthens its trading opportunities with partners in the US, Spain, Italy, France, Greece, The Netherlands and South-East Asia.

NEEMF is a fund that provides equity to small and medium-sized businesses at the start-up or early growth stage of development.

Fund manager Bob Marris said: "BioFresh technology has huge potential worldwide and we are delighted to have helped facilitate their growth. We look forward to working with this innovative company in the future."