NEWS Alternative Proteins Magazine October 2024 15 Enifer secures €36M in funding for its PEKILO® mycoprotein Finnish mycoprotein company Enifer announced the completion of a €36M funding package that enables it to start constructing a unique food-grade mycoprotein factory in Kirkkonummi, Finland. The factory, which is set for completion by the end of 2025 and projected to cost €33M, will convert food industry side streams into Enifer’s sustainable PEKILO® fungi-based protein ingredients. The plant will be the world's first commercial plant to produce such a mycoprotein ingredient from sidestream raw materials. “At Enifer, we’re extremely excited to announce the kick-off of our first factory investment project. For over half a century, Kantvik has been at the heart of Finnish bioindustries, and I could not think of a better location to bring PEKILO® fermentation back to life. I would like to thank our new investors, in particular Taaleri Bioindustry and the Finnish Climate Fund, for joining us in our mission. Mycoprotein is the missing ingredient for a more sustainable food chain – the facility in Kantvik serves as a key steppingstone on our path to making mycoprotein a cornerstone of protein supply, with several future factories already being planned,” says Simo Ellilä, CEO and co-founder of Enifer. The new funding package comprises a new €15M Series B equity funding round led by the Finnish private equity fund Taaleri Bioindustry Fund I, with follow-on investments from existing shareholders Nordic Foodtech VC, Voima Ventures, Valio, and Laine Holding. Read more>> GEA began the construction of its technology center for alternative proteins in Janesville, Wisconsin, USA. Scheduled to open in 2025, the center will scale up the production of novel plantbased, microbial, and cell-based foods. Here, GEA aims to support manufacturers in meeting the demand for complementary proteins and ingredients to traditional animal-based products. “This investment underscores our commitment to innovation and sustainability in the food industry,” said Arpad Csay, who leads GEA’s new food activities in North America, at the groundbreaking ceremony on May 8, 2024. The center will house pilot lines for cell cultivation and precision fermentation, bridging the gap between benchtop and commercial production of alternative proteins. “The technology center will offer foodtech businesses a platform to develop and derisk their processes to ensure technological and commercial viability. It helps startups in the sector implement a business strategy that requires little upfront investment. This way, we help accelerate the development of market-ready products,” adds Csay. Read more>> GEA builds technology center for alternative proteins
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