Denmark : Foodtech start - up MATR gets €20 million EIB loan to expand production of its clean label meat - alternatives

The European Investment Bank (EIB) has granted a €20 million loan to Danish food innovator MATR Foods, supporting the construction of its first full-scale production facility and research and development (R&D) for plant-based meat alternatives. This financing, part of the European Commission s InvestEU initiative, aims to build a unique plant for producing clean label plant-based meat alternatives, aligning with EU goals for healthier and greener food systems. MATR Foods employs an innovative solid-state fermentation technology using local crops like beetroots, potatoes, lupins, and peas to create fungi-based foods, offering a new generation of natural meat alternatives. The EIB s support will enable MATR to scale up production to over 3,000 tonnes annually, with a carbon footprint of around 1.6 kg CO2 per kg of product, which is about 94% lower than beef. The planned facility is expected to reduce the European meal carbon impact by more than 100,000 tonnes of CO2 per year. MATR s products, made from Nordic region-common ingredients and low in fat, have been well-received by chefs, restaurants, and consumers. The EIB s backing will help MATR accelerate production and contribute to the EU s bioeconomy objectives, including the Green Deal and the Farm to Fork strategy. MATR Foods, founded in 2021, is an international team of researchers, chefs, and entrepreneurs with experience in the food industry. The company s fungi products are currently available in Denmark, and its current investors include Novo Holdings and the BioInnovation Institute. The EIB s AAA rating allows it to borrow at favorable conditions, benefiting its clients within the EU and beyond. The InvestEU programme, which combines EU financial instruments under one roof, aims to generate additional investments in line with EU policy priorities. The InvestEU Fund, implemented through financial partners, guarantees €26.2 billion, mobilizing at least €372 billion in additional investment.

Source: eib.org
Published on 2024-09-16