Sector News

Fazer Group forms strategic partnership with Solar Foods

September 18, 2019
Food & Drink

Fazer Group has announced that it has entered a strategic partnership with Finnish foodtech start-up company, Solar Foods as part of its sustainability agenda. The partnership is based on the shared objective to jointly research and develop Solar Foods’ protein ingredient, Solein.

Revised in 2018, Fazer’s sustainability approach is made up of four goals to be achieved by 2030: 50% less emissions, 50% less food waste, 100% sustainably sourced and more plant-based.

With its newly entered partnership, Fazer aims to become a more sustainable food company by developing and promoting solutions to abate climate change.

Christoph Vitzthum, CEO of Fazer Group said: “Fazer believes in open innovation and cross-disciplinary collaboration in creating sustainable and socially significant solutions. Sustainability in food and nutrition is high on Fazer’s research agenda and we want to be an innovative trend setter.

“Our strong heritage offers us the roots necessary to take on bold innovations. The partnership with Solar Foods is a great example of sustainable innovation, supporting Fazer in reaching our sustainability core goal of 50% less emissions by 2030.”

Solar Foods has developed Solein, a carbon neutral protein that is produced from electricity, CO2 and water. Its manufacturing process is completely independent from soil, negative land use impacts, and the weather and climate.

Fazer plans to do further research into the ingredients’ applicability to food while running tests to ensure food safety.

The start-up foodtech company has recently raised a total of $3.5m in convertible loans through a financing round in aid of continuing development on Solein. As well as Fazer, Solar Foods received funding from Holdix Oy Ab, Turret Oy Ab and Lifeline Ventures.

“We are excited now to go full steam ahead and hope to learn from Fazer’s extensive experience in offering customers new food experiences,” said Pasi Vainikka, CEO and co-founder of Solar Foods.

By Emma Upshall

Source: FoodBev

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