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Solar Foods

Space · Helsinki, Finland · Founded 2017 · IPO 2024

Introducing a game-changing natural protein for the global food industry MoreLess

Solar Foods is a Finnish food-technology firm established in 2017, emerging from a joint research initiative between the VTT Technical Research Centre of Finland and LUT University. The company was founded by a team including Dr. Pasi Vainikka and Dr. Juha-Pekka Pitkänen, who combined their expertise in renewable energy and bioprocess engineering to explore food production independent of agriculture. Vainikka, with a background in energy systems research, and Pitkänen, a specialist in biotechnology and fermentation, were inspired by the potential to create edible calories from carbon dioxide and electricity. Their journey began with a successful lab-scale production of a hydrogen-fermented biomass in 2017, leading to the company's formation.

The company's core business revolves around the production and commercialization of Solein®, a novel single-cell protein. This protein is created through a bioprocess using a natural, unmodified microbe. The process, likened to fermentation in breweries, feeds the microbe with CO2, hydrogen (produced by splitting water with renewable electricity), and mineral nutrients. This method is significantly more resource-efficient than traditional agriculture, requiring a fraction of the land and water. The resulting product is a fine, mustard-colored powder rich in protein.

Solein is a highly versatile food ingredient, composed of up to 78% protein, along with fats, dietary fibers, and minerals. It contains all nine essential amino acids and is a source of iron and B vitamins. Its neutral taste allows it to be incorporated into a vast range of food products, from dairy and meat alternatives to noodles and ice cream, without altering their flavor profile. The business model is twofold: supplying Solein as a B2B ingredient to global food manufacturers and licensing its patented hydrogen fermentation technology platform to other producers. Key partners include the Fazer Group for research collaboration and Ajinomoto for developing Solein-based products. The company is also collaborating with flavor manufacturer Sensapure Flavors to develop product concepts for the US market.

Solar Foods has achieved significant milestones, including raising over $52.4 million in funding from investors like Lifeline Ventures and receiving substantial grants from entities such as Business Finland and the European Union. In 2022, Singapore became the first country to grant novel food approval for Solein, allowing for its commercial sale. A major achievement was the launch of 'Factory 01' in Vantaa, Finland, in spring 2024, the world's first commercial-scale facility producing food from air. This facility serves as a demonstration plant to prove the technology's scalability, with plans for much larger factories in the future. The company has also gained recognition from NASA's Deep Space Food Challenge.

Keywords: Solein, single-cell protein, food-tech, cellular agriculture, sustainable protein, hydrogen fermentation, air-based protein, food innovation, alternative protein, CO2 to food, non-GMO protein, VTT spin-off, Pasi Vainikka, Juha-Pekka Pitkänen, microbial protein, future of food, sustainable food production, decarbonization, food technology, novel food ingredient, B2B food ingredients, clean-tech, bioprocess engineering, food security, environmental technology

Valuation $83M
Revenue $136K
Total funding $100–500M

Company overview

Solar Foods company information

The essential company record, classifications and operating signals in one place.

Status
Operational
Founded
2017
Headquarters
Helsinki, Finland
Employees
74
Open positions
None listed
Dealroom signal
83.9
client focusb2bclient focusb2ctechnologyHardwaretechnologyDeep Techsub industryInnovative FoodsectorFood Processingbusiness modelManufacturingsectorBiotechnologysectorSocial EntrepreneurshipsectorSolar EnergysectorNutritionsectorChemicalsectorSynthetic BiologysectorSpinout

Valuation & funding

Solar Foods funding history

Company financing events and reported valuations.

Deal typeDateAmountValuationInvestorsSource
POST IPO DEBTDebt Jun 2026 $42M Undisclosed
GRANTOther financing Jun 2026 $44M Business Finland
PRIVATE PLACEMENT NON VCOther financing Jan 2026 $28M Undisclosed
GRANTOther financing Mar 2025 $11M Business Finland
IPOOther financing Sep 2024 $0 Undisclosed
SERIES BOther financing Apr 2024 Springvest
SERIES BOther financing Nov 2023 Lifeline Ventures · VTT Ventures · Springvest · Fazer
GRANTOther financing Dec 2022 Business Finland
CONVERTIBLEOther financing Oct 2021 Agronomics
EARLY VCOther financing Apr 2021 Finnish Climate Fund
Showing 10 recorded eventsUnlock the complete deal history →

Financials

Revenue, earnings and profit over time

Reported history and available estimates. Estimated years are marked “E”; sparse fields are left blank rather than inferred.

YearRevenueGrowthEBITDAMargin
2026 $21K 0% −$2M -9630%
2025 $21K 0% −$2M -9630%
2024 $21K +274.5% −$2M -9630%
2023 $6K −$2M -36060%
2022 $0 −$2M
2021 $0 −$953K
2020 $0 −$469K
Company filings, research estimates and Dealroom dataOpen the full financial model →

Growth signals

Solar Foods website traffic

Latest recorded traffic for Solar Foods is 17K monthly website visits, up 41.7% over the last three months. Solar Foods's team grew 4.2% over the past year.

Latest monthly visits17K 3-month web change+41.7% 1-year team growth+4.2%
Monthly website visits80 observations · Nov 2017–Jul 2026
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Comparisons

Solar Foods compared with similar companies

Dealroom’s weighted taxonomy model identifies the closest operating peers. Company identity and context stay open; selected comparison metrics preview what is available in the platform.

Showing 8 of the closest matchesCompare every metric →

Talent graph

Solar Foods's talent

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Team profiled 13 named & role-tagged
Founders Hidden — book a demo/100 quality score
Key operators 7 quality Hidden — book a demo/100
Potential founders Hidden — book a demo likely future founders
Startup mafia Hidden — book a demo alumni-founded startups
Talent movements Hidden — book a demo in · Hidden — book a demo out past 12 months

Source: Dealroom Talent Intelligence.

Investors

16 investors on Solar Foods's cap table

Sourced from Dealroom's funding and investor records. Investor profile links are shown where available.

Seed 1 investor entered at this stage
EIT FAN Helsinki (Food Accelerator Network)
Series A 12 investors entered at this stage
Lifeline Ventures
VTT Ventures
Green Campus Innovations
Fazer
Holdix
Agronomics
CPT Capital
Bridford Group
Business Finland
Finnish Climate Fund
Springvest
Happiness Capital
Other known 3 additional known investors
ESA BIC Finland
Lappeenranta University of Technology
VTT Technical Research Centre of Finland

Global footprint

Where Solar Foods has talent and traffic

Workforce by country
3 countries with
team presence
🇫🇮 Finland92.3%
🇩🇰 Denmark3.9%
🇺🇸 United States3.9%
3 countries shown

In the news

Latest news about Solar Foods

Recent press, funding announcements, and product moves mentioning Solar Foods — open to read from the original sources.

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Market sentiment

What the market is saying about Solar Foods

An AI-synthesized read of the highest-engagement posts about Solar Foods on X over the past 7 days. We rank by likes & retweets, ignore corporate channels, and surface the themes that broke out from real people.

Reading the room on X — pulling top posts and synthesizing themes…

Source: X recent search ranked by engagement (likes + retweets) · Synthesis by Claude · Cached for 1 hour

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