Solar Foods wins €77.8M funding package for Factory 02 expansion
8 million in grant and loan financing to support the construction and commissioning of Factory 02. The funding package comprises a €39. The financing package will help construct and commission Factory 02, where the company plans to scale production of Solein, a protein grown from carbon dioxide and hydrogen.
Key Takeaways
- 8M funding package for Factory 02 expansion The financing package will help construct and commission Factory 02, where the company plans to scale production of Solein, a protein grown from carbon dioxide and hydrogen.
Cate Lawrence 3 hours ago Share Share Send email Copy link Solar Foods has secured €77.
- Detaching food from agriculture, Solein can be grown anywhere, taking just 0.
1 per cent of the land and 1 per cent of the water that a similar amount of beef would.
- Solar Foods has executed its financing plan, communicated in October last year, with determination, and this funding decision is a significant part of the total financing in line with the company's strategy", says Rami Jokela, CEO of Solar Foods.
According to Lassi Noponen, Director General of Business Finland: "Our role is to raise the level of ambition in Finnish R&D by sharing risk with companies pursuing transformative innovations.
- The grant will be used for the implementation and ramp-up of Factory 02 in co-operation with strategic partners, as well as Solein's large-scale commercialisation and the development of scalable business solutions and the expertise generated in the project.
The loan is intended to be used to upscale and optimise Solein's production process at Factory 02 and to achieve the targeted productivity, energy efficiency, and optimal product characteristics.
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Stats & Key Facts
- #8 million in grant and loan financing to support the construction and commissioning of Factory 02.
- #The funding package comprises a €39.
- #8M funding package for Factory 02 expansion The financing package will help construct and commission Factory 02, where the company plans to scale production of Solein, a protein grown from carbon dioxide and hydrogen.
- #8 million in grant and loan financing to support the construction and commissioning of Factory 02.
The financing package will help construct and commission Factory 02, where the company plans to scale production of Solein, a protein grown from carbon dioxide and hydrogen. 8M funding package for Factory 02 expansion The financing package will help construct and commission Factory 02, where the company plans to scale production of Solein, a protein grown from carbon dioxide and hydrogen. Cate Lawrence 3 hours ago Share Share Send email Copy link Solar Foods has secured €77.
8 million in grant and loan financing to support the construction and commissioning of Factory 02. The funding package comprises a €39. 1 million R&D loan, awarded under the company's participation in the Important Projects of Common European Interest (IPCEI) programme, which was approved by the European Commission.
Solar Foods has developed a proprietary microbe that feeds on carbon dioxide (CO²) and hydrogen to grow a high-protein food ingredient called Solein. Detaching food from agriculture, Solein can be grown anywhere, taking just 0. 1 per cent of the land and 1 per cent of the water that a similar amount of beef would.
For more details please read the original article at Tech.eu.
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