S
Solar Foods
Introducing a game-changing natural protein for the global food industry
About Solar Foods
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.
Read full description
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.
At a glance
- Status
- Operational
- Founded
- 2017
- Headquarters
- Helsinki, Finland
- Listing
- IPO 2024
- Employees
- 74
- Open positions
- None listed
- Dealroom signal
- 83.9/100
- Sub-industry
- Innovative Food
- Sector
- Space, Food Processing, Biotechnology, Social Entrepreneurship, Solar Energy, Nutrition, Chemical, Synthetic Biology, Spinout
- Technology
- Hardware, Deep Tech
- Business model
- Manufacturing
- Client focus
- b2b, b2c
Knowledge graph
More headlines
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 | ↗ |
Financials
Revenue, earnings and other financial measures where available. Years marked “E” are estimates.
| 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
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.
Similar companies
Company identity and context are open; selected comparison metrics preview what is available on the platform.
Investments and acquisitions
Recent portfolio relationships for companies that also act as investors or acquirers.
Investors
From Dealroom's funding and investor records, grouped by the round each investor first entered.
Seed1 investor entered at this stage
EIT FAN Helsinki (Food Accelerator Network)
Series A12 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 investors3 additional known investors
ESA BIC Finland
Lappeenranta University of Technology
VTT Technical Research Centre of Finland
Source: Dealroom Talent Intelligence.
Global footprint
team presence
Market sentiment
An AI-synthesised read of the highest-engagement posts about Solar Foods on X, ranked by likes and reposts, corporate channels excluded.
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
See Solar Foods’s full profile on Dealroom
Request a free trial to see the complete deal history, financials, people graph and growth signals.
Takes under a minute. Already use Dealroom? Log in.







