- Enifer secures €36M funding for food-grade mycoprotein factory in Finland
- Factory in Kirkkonummi, Finland to produce PEKILO® mycoprotein from fungus
- Factory to be operational by end of 2025, with industrial fermenter for production
- Funding includes equity round, loans, and grant to fully finance the project
- Enifer aims to make mycoprotein a sustainable cornerstone of protein supply, with Novel Foods approval expected in 2026
Revolutionizing Sustainable Protein Production with Enifer’s Food-Grade Mycoprotein Factory
In a groundbreaking move for the sustainable food industry, Finnish mycoprotein company Enifer has secured a substantial €36 million funding package to establish a state-of-the-art food-grade mycoprotein factory in Kirkkonummi, Finland. This significant investment marks a pivotal moment for Enifer and the future of protein production, as the factory is set to revolutionize the conversion of food industry side streams into Enifer’s innovative PEKILO® fungi-based protein ingredients.
The Innovation Behind PEKILO® Mycoprotein Production
PEKILO® mycoprotein, the flagship product of Enifer, is derived from a specific species of fungus cultivated through a fermentation process akin to traditional methods used in brewing beer or making soy sauce. At the heart of the factory lies a towering industrial fermenter, standing over 12 meters tall and measuring more than 4.5 meters in diameter, where the PEKILO® mycoprotein is meticulously grown.
This cutting-edge production process not only ensures the sustainability of the protein source but also sets a new standard for environmentally conscious food manufacturing. With plans to commence operations in 2026, the factory is projected to produce a staggering 500 kilograms per hour of mycoprotein, amounting to an annual output of up to 3,000 tons of PEKILO®. This substantial capacity is expected to meet the protein needs of approximately 40,000 individuals annually, reinforcing the factory’s critical role in addressing global food security challenges.
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Securing Sustainable Funding for a Greener Future
The recent funding package, totaling €36 million, encompasses a diverse range of financial support, including a €15 million Series B equity funding round led by the reputable Finnish private equity fund Taaleri Bioindustry Fund I. This substantial investment is further bolstered by contributions from existing shareholders Nordic Foodtech VC, Voima Ventures, and Valio, reflecting a strong vote of confidence in Enifer’s innovative approach to sustainable protein production.
Moreover, the Finnish Climate Fund has extended a supportive €7 million junior loan, alongside a €2 million Climate and Environmental Loan provided by Finnvera, further underscoring the broader environmental impact and significance of the project. Notably, this funding complements the €12 million recycling and reuse investment grant previously awarded by Business Finland, ensuring that the factory is fully funded and poised for success.
Shaping the Future of Protein Supply with Enifer
With the construction of the food-grade mycoprotein factory well underway, Enifer’s CEO and co-founder, Simo Ellilä, expressed his enthusiasm for the project, emphasizing the transformative potential of mycoprotein in reshaping the global food chain towards sustainability. Ellilä highlighted the strategic location of the factory in Kantvik, a hub of Finnish bioindustries, as a fitting backdrop for pioneering PEKILO® fermentation and driving forward the company’s vision for sustainable protein supply.
Enifer’s commitment to innovation extends beyond the current project, with plans to file for Novel Foods approval of the novel ingredient in 2024, anticipating approval by 2026. This regulatory milestone will further cement Enifer’s position as a trailblazer in the field of alternative proteins, setting the stage for future expansion and the establishment of additional mycoprotein factories to meet the growing demand for sustainable protein sources.
In conclusion, Enifer’s ambitious venture into food-grade mycoprotein production heralds a new era of sustainable protein manufacturing, with the forthcoming factory poised to set a global benchmark for environmentally conscious food production. As the world grapples with the challenges of feeding a growing population while mitigating the impact on the environment, Enifer’s innovative approach offers a beacon of hope for a greener, more sustainable future in the realm of food production.
Lead image: Enifer. Photo: uncredited.
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