One year from Solar Foods investment decision: factory construction ongoing, target for Solein to enter the market in 2023

April 2022 marks the first anniversary of the Climate Fund’s inaugural investment decision. The investment financed Solar Foods’ demo facility for Solein, an innovative low-emissions protein produced with renewable energy. Their factory will be the world’s first commercial plant producing protein from carbon dioxide and electricity.

Solar Foods has launched its operations at a brisk pace, and the company’s Factory 01, expanded in scope from demo plant to full production facility, is slated to begin production in 2023. Six million euros from the Climate Fund’s EUR 10 million capital loan has already been paid out to the company. The last four-million-euro instalment will be specifically allocated to an additional investment for expanding the demonstration facility with a bioreactor and electrolyser required for Solein production.

Construction of the factory began in late 2021 in Vantaa, and an application for placing Solein on the market was filed with the European Food Safety Authority at the same time. The product development of Solein is proceeding in pace with the construction of the production facility. Solar Foods is currently testing the use and suitability of the protein for various applications in the food industry. Commercial production is slated to begin in 2023.

Last year, Solar Foods ranked among the winners of the Deep Space Food Challenge organised by NASA and the Canadian Space Agency to find new solutions for feeding astronauts on long space voyages. Solar Foods estimates that their solution will be ready for use in space in years rather than decades.

Read more about Solar Foods and the Climate Fund’s investment on the investments information page.

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