Finnish startup Solar Foods has secured €77.8 million in grants and loans from Business Finland. This funding is allocated towards its first commercial-scale food production facility, Factory 02, designed to produce protein from gas fermentation, although a final investment decision is still pending.
Founded in 2017 as a spin-off, Solar Foods develops Solein protein using microbes that consume gases instead of sugars. The company currently operates a pilot facility, Factory 01, producing 230 tons per year, and aims for Factory 02's first phase to reach 3,200 tons/year by late 2028.
This initiative is part of the EC’s Important Projects of Common European Interest (IPCEI) scheme, supporting lower-carbon technologies. Solar Foods has Novel Foods approval for Solein in Singapore and self-GRAS status in the US, awaiting an EU decision from EFSA.
Solar Foods plans to make its final investment decision for Factory 02 during 2026. Efforts are focused on securing customer agreements, expanding their partner network, advancing facility design, and finalizing the financing plan, with engineering ongoing alongside partners like GEA and Fortum.