Solar Foods’ investment round was led by Lifeline Ventures, with participation from VTT Ventures and Green Campus Innovations. The Finnish company was also granted a development and piloting loan by Business Finland.
The company is aiming to commence commercial production of the environmentally revolutionary protein in 2020, expecting it to turn food production on its head, as it doesn’t depend on agriculture, the weather or the climate.
“Our goal is to develop the protein into a high-quality product whose environmental impact will be 10 to 100 times smaller than those of meat products or their substitutes currently in the market,” comments Pasi Vainikka, the company’s incoming CEO.
The production method is based on research conducted by VTT Technical Research Centre of Finland and the Lappeenranta University of Technology (LUT), which proved the viability of the concept for producing extremely protein-rich food.
Good News from Finland is published by Finnfacts, which is part of Business Finland.