S
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
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
Valuation & funding
Solar Foods funding history
Company financing events and reported valuations.
| Deal type | Date | Amount | Valuation | Investors | Source |
|---|---|---|---|---|---|
| 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 | — |
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.
| Year | Revenue | Growth | EBITDA | Margin |
|---|---|---|---|---|
| 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 | — |
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.
Comparisons
Solar Foods compared with similar companies
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Talent graph
Solar Foods's talent
Source: Dealroom Talent Intelligence.
Global footprint
Where Solar Foods has talent and traffic
team presence
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.
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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