Finnish startup Enifer has successfully secured €36 million in funding to establish a mycoprotein factory, a pioneering step to address global protein demand.
The factory will be built in Kirkkonummi, Finland, and aims to revolutionise sustainable protein production by utilising sidestream raw materials and advanced fermentation processes.
Securing Crucial Funding
Enifer, an innovative Finnish startup and spin-off from VTT Technical Research Centre, has recently announced the completion of a substantial €36 million funding round. This includes a €15 million Series B equity round led by Taaleri Bioindustry Fund I, along with support from existing investors such as Nordic Foodtech VC, Voima Ventures, and Valio. Additionally, the project has received a €7 million junior loan from the Finnish Climate Fund and a €2 million loan from Finnvera, ensuring the financial backing needed for their ambitious project.
Building the Mycoprotein Factory
The newly funded project will see the development of a state-of-the-art mycoprotein factory in Kirkkonummi, targeting a completion date by the end of 2025. The facility, equipped to produce Enifer’s sustainable PEKILO fungi-based protein, will transform food industry side streams into a novel protein source, marking a significant milestone in sustainable food production.
Strategically located within an existing industrial site in Kantvik, near Helsinki, the factory benefits from essential utilities such as steam, electricity, water treatment, and waste management. This enables efficient operation and resource management. Once operational, the plant is expected to produce 3,000 tonnes of PEKILO annually, equivalent to the protein needs of 40,000 individuals each year.
Advanced Production Techniques
The core of the factory’s innovative approach lies in its use of a full-sized industrial fermenter. Standing over 12 metres tall, this fermenter is crucial in the production of PEKILO mycoprotein.
Enifer aims to commence operations by 2026. The production method mirrors traditional fermentation processes like brewing and aims to minimise environmental impact.
This high-tech facility will initially hire approximately 15 employees for regular operations, doubling during the construction phase, thus fostering local employment and contributing to the regional economy.
PEKILO: The Mycoprotein Solution
PEKILO, the innovative protein ingredient developed by Enifer, results from cultivating specific fungi species through an efficient fermentation process. This process was initially conceptualised in Finland during the 1970s.
The versatile PEKILO protein is not only rich in quality protein and fibre but also neutral in taste and colour. This makes it ideal for incorporating into a range of food products, from meat alternatives to baked goods and snacks.
Strategic Partnerships and Market Potential
The investment from Taaleri Bioindustry Fund I signifies confidence in Enifer’s market potential and technology. Tero Saarno, Managing Director of Taaleri, echoes this sentiment, emphasising the importance of alternative proteins as global demands rise due to ethical and environmental concerns.
The Finnish Climate Fund also supports Enifer, recognising the necessity for sustainable, diverse food production strategies.
CEO’s Vision for the Future
Simo Ellilä, CEO and co-founder of Enifer, expresses enthusiasm for the project, highlighting Kantvik’s legacy in bioindustries as an ideal location for the factory.
Ellilä appreciates the support from investors and envisions the mycoprotein facility as a critical step towards a sustainable protein landscape.
His goal is to cement mycoprotein as a key component of the protein supply chain, with plans for multiple future factories already in motion.
Environmental and Economic Impact
The construction and operation of the Enifer factory are designed to significantly reduce carbon emissions while efficiently utilising land and water resources.
Enifer is at the forefront of tackling global protein challenges through innovative mycoprotein production, backed by substantial investment and strategic partnerships.
With the commencement of their Kirkkonummi factory, Enifer is poised to become a leader in sustainable food technology, paving the way for future advancements.
