Solar Foods secures $2.5M to start commercial production of a new kind of protein.

Finland Investments 23 March 2018
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Solar Foods, a Helsinki, Finland-based company working on a process for producing an entirely new kind of nutrient-rich protein using only air and electricity as the main resources, announced raising EUR 2M ($2.5M) in seed capital investment.

The money comes from Lifeline Ventures, VTT Ventures and Green Campus Innovations Oy. In addition to capital investment, the company was granted a development and piloting loan by Business Finland.

Solar Foods, founded in 2017 by Juha-Pekka Pitkänen and Pasi Vainikka, produces protein using air and electricity, with the vision to revolutionize food production with a method that is not dependent on agriculture, the weather, or the climate.

The company is based on a research project of the VTT Technical Research Centre of Finland and the Lappeenranta University of Technology (LUT) that proved the viability of the production concept for extremely protein-rich food.

Solar Foods’ concept redefines the basics of food production, as it is not dependent on agriculture, the weather, or the climate. The price of the protein product is also competitive compared to sources such as soy protein.

The company will use the money as it aims to start commercial production of the environmentally revolutionary protein in 2020.