| Project Detail |
The project supports a Danish innovative start-up in the first industrial scale implementation of their innovative technology for the production of plant-based meat alternative products.
Additionality and Impact
The Project is fully aligned to InvestEU objectives, fostering activities in the area of the Bioeconomy for the development of innovative biomass processing technologies for the production of plant-based meat alternative products via solid state fermentation. The Project is also consistent with the EU Green Deal, supporting the Farm to Fork strategy to create healthy and environmentally friendly food systems.
Market failures: This Project contributes to financing of smaller innovative and/ or high-growth companies, which generate significant positive externalities through the creation of innovative processes and products. The first of-its-kind production facility will create innovative plant-based meat replacements creating valuable environmental, health and knowledge externalities. By providing plant-based meat alternatives, the Project supports customers in reducing meat consumption, while maintaining a balanced and healthy diet. Therefore, the Project may also help reduce negative environmental externalities. The project also supports competition on the market for minced meat substitutes.
Aligned with EIB Public Policy Goals (PPGs), the project supports Research, Innovation and Digital and Natural Resource Use, Management and Protection. It includes RDI activities to optimize processes and develop low-carbon food products, enhancing EU industry competitiveness. Financing the facilitys construction and operation enables the commercialization of plant-based meat alternatives, fostering SME growth and creating jobs. The EIB provides significant financial additionality with high-risk debt financing, crucial for scaling up innovative technology. The promoter benefits from the Green Transition finance product, overcoming challenges in accessing commercial loans due to limited track record and project risks. The EIBs involvement also attracts private investors and is essential for the companys growth.
This Project would not be feasible without InvestEU and EIB support, which enables scaling up sales, achieving profitability, and catalysing further equity investments, ensuring the realization of environmental and health benefits.
Objectives
The loan will finance the promoters research, development and investments (RDI) activities and the construction and operation of a first-of-a-kind plant for the production of new, clean label plant-based meat alternatives. The project is fully in line with the Green Deal, with strong focus on the farm to fork strategy. In fact, the produced plant-based meat alternative products can provide additional options to EU consumers for a plant based low carbon diet. Additionally, the project is also strongly aligned to the EU Bioeconomy strategy, fostering the development of innovative technologies for biomass processing and valorisation. By supporting the growth of an innovative start-up, it supports the competitiveness of the EU food industry in the alternative protein domain.
Sector(s)
Industry - Manufacturing
Proposed EIB finance (Approximate amount)
EUR 20 million
Total cost (Approximate amount)
EUR 40 million |
