<div>
  <ul>
    <li>
      <p>
        Solar Foods, an alternative protein ingredient startup, has secured an additional EUR 8 million (~USD 8.6 million), adding to its Series B funding round held in 
        <a href="https://sp-edge.com/updates/24061">
          November 2023
        </a>
        . Springvest Oyj led this round, bringing the total Series B funding to EUR 16 million (~USD 17 million).
      </p>
    </li>
    <li>
      <p>
        The additional funds will be used to further Solar Foods&rsquo; operational capabilities.&nbsp;
      </p>
    </li>
    <li>
      <p>
        <b>Analyst QuickTake</b>
        : Solar Foods recently 
        <a href="https://sp-edge.com/updates/28496">
          inaugurated
        </a>
         Factory 01, its latest manufacturing plant in Vantaa, Finland. The factory will produce Solein, its flagship protein, and has an annual capacity of 160 tons.
      </p>
    </li>
  </ul>
  <p>
  </p>
</div>


<div>
  <p>
    <a href="https://www.accesswire.com/856918/agronomics-limited-announces-solar-foods-raises-an-additional-eur8-million">
      Press release
    </a>
  </p>
</div>


Novel Foods

ANALYST_QUICK_TAKE

<div>
 <p>Solar Foods, an alternative protein ingredient startup, has secured an additional EUR 8 million (~USD 8.6 million), adding to its Series B funding round held in <a href="https://sp-edge.com/updates/24061"> November 2023 </a> . Springvest Oyj led this round, bringing the total Series B funding to EUR 16 million (~USD 17 million).</p>
 <p>The additional funds will be used to further Solar Foods’ operational capabilities.&nbsp;</p>
 
</div> <p><b>Analyst QuickTake</b> :<br>
 Solar Foods recently <a href="https:<br>
//sp-edge.com/updates/28496"> inaugurated </a> Factory 01, its latest manufacturing plant in Vantaa, Finland. The factory will produce Solein, its flagship protein, and has an annual capacity of 160 tons.</p>

Solar Foods raises additional EUR 8 million in Series B funding to enhance operational capabilities

<div>
 <p>Nepra Foods Inc. has obtained a USD 950,000 loan from William Hogan via its subsidiary, Nepra Foods, Ltd. at an interest rate of 6% per annum.</p>
 <p>This financial boost will help support Nepra Ltd.'s growth and enhance its enterprise value.</p>

</div> <p><b>Analyst QuickTake:<br>
 </b> This news comes after Nepra Foods was issued a <a href="https:<br>
//www.accesswire.com/791414/nepra-foods-announces-cease-trade-order"> cease trade order </a> (CTO) by the British Columbia Securities Commission in October 2023. The CTO was issued because Nepra Foods failed to file its audited annual financial statements for the year ended March 31, 2023.&nbsp;</p>

Nepra Foods raises USD 950,000 in debt funding to support growth

PROMINENT_CATEGORY

<div>
 <p>A German biotech startup, MicroHarvest, has teamed up with VEGDOG, an animal-free pet food company, to launch VEGDOG Pure Bites. This new product is a microbial protein dog treat featuring a blend of microbial protein, potato, and apple pomace.</p>
 <p>This is the first product of its type in the European market, and is hypoallergenic, making it an appropriate choice for pets with protein intolerances and allergies.</p>
</div> <p><b>Analyst QuickTake:<br>
 </b> In <a href="https:<br>
//sp-edge.com/updates/24200"> November 2023 </a> , the company unveiled its new pilot plant in Lisbon, Portugal, to produce a single-cell protein using microbial fermentation for food and feed applications. MicroHarvest claims the single-cell protein carries a protein content of over 60% and can be produced within a day using its technology.</p>

MicroHarvest partners with VEGDOG to introduce novel microbial protein dog treat in Europe

<div>
 <p>Innovafeed, a French biotech firm specializing in insect-derived products, has unveiled its North American Insect Innovation Center (NAIIC) in Decatur, Illinois, marking its foray into the North American market. The facility aims to ramp up the production and sale of its insect protein in the US.</p>
 <p>The pilot plant, a joint venture with ADM, primarily farms black soldier flies to produce insect meal, oil, and soil amendment under the Hilucia brand. The plant, spread over 10,000 sqm, employs a zero-waste framework and uses agricultural residues from ADM for its production. Upon completion, the facility is expected to cover 100,000 sqm and provide jobs for up to 300 workers.</p>
 
</div>

Innovafeed unveils North American insect innovation center in Illinois

<div>
 <p>Atomo Coffee, a company offering beanless coffee, has entered into a partnership with the coffee chain Bluestone Lane. The deal allows Atomo Coffee to distribute its products at all Bluestone Lane locations in the US.</p> 
 <p>Previously, Atomo Coffee's market only extended to <a href="https://sp-edge.com/updates/23234">one location</a> in New York City. With this new partnership, its reach will expand from initially ten Bluestone Lane sites to all 58 nationwide, providing Bluestone customers with an environmentally friendly coffee option.
</p> 
</div> <p><b>Analyst QuickTake:<br>
 </b> This partnership follows Atomo Coffee’s <a href="https:<br>
//www.fooddive.com/news/atomo-molecular-coffee-40m-investment/626138/"> USD 40 million </a> Series A funding round in June 2022. Furthermore, it received a multi-million dollar <a href="https:<br>
//sp-edge.com/updates/24577"> investment </a> from Japanese beverage leader Suntory Holdings to aid in the company’s international expansion.</p>

Atomo Coffee partners with Bluestone Lane to distribute beanless espresso in the US

<div>
 <p>MycoTechnology, a firm that focuses on mycelial fermentation, has managed to increase the production of a novel sweetener made from honey truffles from a laboratory setup to 3,000 l tanks. </p>
 <p>This honey truffle sweetener, which is derived from a sweet protein, is said to be stronger than conventional sugar. Plus, it has a clean taste, is safe for those with allergies, non-poisonous, and can be fully digested by humans. </p>
</div> <p><b>Analyst QuickTake:<br>
 </b> <a href="https:<br>
//sp-edge.com/companies/517448"> Alkion BioInnovations </a> (formerly Alkion BioPharma) is another company that develops sweet proteins as an alternative to sugar. However, its sweet protein is only 300x sweeter than sugar, while MycoTechnology’s honey truffle sweetener claims to be 1,500–2,500x sweeter than sugar with a similar calorie content to other proteins.</p>

MycoTechnology scales production of first-ever honey truffle sweetener

<div>
 <p>The Finnish company, Solar Foods, has inaugurated its latest manufacturing plant, Factory 01, located in Vantaa, Finland. This factory will produce the company's staple protein product, Solein, on a commercial scale. </p>
 <p>The new plant has the capacity to produce 160 tons annually, with a bioreactor that can produce the protein equivalent of a 300-cow dairy farm's daily output. Apart from production, the facility will also aid in research and development for future products.</p>
</div> <p><b>Analyst QuickTake:<br>
 </b> Solein, a versatile and nutritious protein, is produced using a unique process involving a microorganism, CO2, and electricity. The company has received <a href="https:<br>
//sp-edge.com/updates/14058"> regulatory approval </a> from the Singapore Food Agency (SFA) and has applied for approvals in the EU and US. Moreover, in <a href="https:<br>
//sp-edge.com/updates/18897"> May 2023 </a> , Solar Foods held a tasting event in Singapore, showcasing menu items made with Solein, and in <a href="https:<br>
//sp-edge.com/updates/19078"> June 2023 </a> , partnered with Ajinomoto to develop Solein-based products.</p>

Solar Foods launches world's first air protein factory in Finland

<div>
 <p>The fermentation expert, MycoTechnology, has collaborated with the US chocolate brand, Macalat, to develop a dark chocolate bar that is sugar-free, organic, and vegan. This is made possible by using ClearIQ, a flavor modifier originating from mushroom mycelium.</p>
 <p>The company states that implementing ClearIQ in Macalat's latest chocolate bar negates the requirement for sugar and any artificial sweeteners. It also neutralizes the bitterness and certain displeasing tones typically linked with dark chocolate.</p>
</div>

MycoTechnology partners with Macalat to develop sugar-free dark chocolate

<div>
 <p>Bioflytech, a specialized insect-solution company, has started production of flour and fats from dried black soldier fly larvae in its new facility in Palas de Rei, Galicia, Spain. The products are authorized for development and sale.</p>
 <p>By using proprietary gas rendering machines, the facility can convert dried larvae into flour and fat, mainly for the animal and aquaculture feed industries. This machine can also produce custom flours with specific protein and fat percentages per customer needs.</p>
</div>

Bioflytech commences production of flours and fats at new facility

INCUMBENTS_PRESENT

<div>
 <p>Cargill has formed a partnership with Voyage Foods, a Food Tech startup that focuses on sustainable food and drink alternatives. The partnership aims to create sustainable alternatives to products based on cocoa and nut spreads.</p>
 <p>As part of the partnership, Cargill will be the sole global B2B distributor for Voyage Foods. It will integrate Voyage Foods' cocoa-free range into its own portfolio. This will be used to create recipes for a variety of products including bakery items, ice creams, and sweets. The cocoa-free sweets range will initially be launched in Europe and there are plans for a global release at a later stage.</p>
 
</div> <p><b>Analyst QuickTake:<br>
 </b> This partnership marks Cargill's first venture into cocoa-free confectionery and will expand its portfolio of vegan and allergen-friendly portfolio. On the other hand, Voyage Foods, which already has a sizable market presence, will have the opportunity to expand its foothold on the sustainable foods market further by leveraging Cargill's extensive distribution network.</p>

All Updates