Solar Foods

Solar Foods is a spinoff of VTT Technical Research Center of Finland and LUT University, and produces Solein, a single-cell protein, using microbes that are cultured using carbon dioxide and electricity as the main resources. Solar Foods has produced approximately 20 products using Solein, including vegan burger patties and plant-based meatballs.

The firm claims that its all-natural fermentation technique is similar to yeast production, resulting in the world's cleanest and most sustainable protein. Solein production is not affected by weather or climate and can be produced even in hostile environments like the desert, the Arctic, and space, where conditions are not ideal for typical food production. Solar Foods has received regulatory approval for Solein from the Singapore Food Agency (SFA) and self-affirmed Generally Recognized as Safe (GRAS) status in the USA. The company has also applied for novel food authorization in the UK and EU as well.

In April 2024, the company inaugurated Factory 01, its commercial-scale Solein production facility. It has an annual production capacity of 160 tons and utilizes a bioreactor capable of producing the equivalent protein of a 300-cow dairy farm in a day. It also serves as a hub for R&D, supporting the development of future products.

Key customers and partnerships

In May 2023, Solar Foods held a tasting event in Singapore in collaboration with The Lo & Behold Group to debut menu items produced using Solein. In June 2023, the company entered a strategic alliance with Japanese food and biotech company Ajinomoto to develop products using Solein. Additionally, the companies planned to conduct a market feasibility study in Singapore and secure market licenses in regions other than Singapore. In August 2024, this partnership launched two plant-based products in Singapore under Ajinomoto's new brand, Atlr.72.

Funding and financials

In its latest funding round in November 2023, the company raised EUR 8 million (~USD 8.7 million) in Series B funding led by Springvest Oyj with participation from Happiness Capital. The funds were earmarked for continuous development and expediting the production of Solein.