Solar Foods has signed two MoU’s regarding commercialisation of 6,000 tonnes of Solein per year
PRESS RELEASE
Solar Foods has signed a Memorandum of Understanding (MoU) with two international customers for commercialisation plan of altogether 6,000 tonnes of Solein per year. The MoUs are a joint plan of the companies, and they outline the fundamental principles of the planned collaboration, towards commercialization and binding agreements.
Solar Foods has already been working together with these customers on research and product development. Should the collaboration lead to a binding agreement, the total volume commitment of 6,000 tonnes would correspond to approximately 50% of the full production capacity of Factory 02, now in its pre-engineering phase.
Factory 02 is planned to be constructed in three phases, ensuring an efficient cost structure and optimised unit economics. Aimed to be fully operational in 2030, it has an annual planned capacity of 12,800 tons, which is nearly hundred times the design capacity of the already operational Factory 01. Solar Foods aims to have phase 1 operational in 2028, and the following phases in 2029 and 2030. The final investment decision for Factory 02 is planned to be made in 2026.
“These agreements serve as compelling proof of Solein’s commercial outlook. We are now deepening our collaboration with customers through the development and commercialisation of food, beverages and nutritional consumer products, aiming for new product launches first in the United States. Information about new products and their launches, including launch timelines, are communicated in due course by our customers. These agreements also play an important role in preparing for the final investment decision for our industrial-scale production facility, Factory 02”, says Pasi Vainikka, CEO of Solar Foods.
Media inquiries:
Maria Rämö, Communications and Engagement Manager, maria.ramo@solarfoods.com, tel. +358 10 579 3283
Images for editorial use: www.solarfoods.com/media
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What is Solein?
Solein is an all-purpose protein grown with the air we breathe: The unique bioprocess takes a single microbe, one of the billion different ones found in nature, and grows it by fermenting it using air and electricity. Solein is a nutritionally rich and versatile ingredient which can replace protein virtually in any food. Solein can also be used as a fortifier to complement the nutritional profile of various foods: it can be a source of iron, fiber and B vitamins, and it can also bring different techno-functionalities into food products. Learn more at www.solein.com.
About Solar Foods
Solar Foods produces Solein®, a protein created using carbon dioxide and electricity. This innovative production method is independent of weather and climate conditions, eliminating the need for traditional agriculture. Founded in Finland in 2017, Solar Foods is listed on the Nasdaq First North Growth Market Finland. Learn more at www.solarfoods.com and investors.solarfoods.com.
