Solar Foods
Solar Foods (SFOODS.HE) is a publicly traded Plant-Based & Alt-Protein company founded in 2017 and based in Vantaa, Finland.
Solar Foods was founded in 2017 by Pasi Vainikka and Juha-Pekka Pitkänen and is headquartered in Vantaa, Finland. It produces Solein, a protein ingredient grown by gas fermentation from a naturally occurring microbe, and sells it to food companies, focusing on health and performance nutrition in the United States. Its Factory 01 in Vantaa started production in spring 2024 and can make up to 160 tonnes of Solein a year. Solein received novel-food approval in Singapore in September 2022 and self-affirmed GRAS status in the US in September 2024, and the company expects EU approval during 2026. Its shares have traded on the Nasdaq First North Growth Market Finland under SFOODS since September 10, 2024. Revenue was €0.1 million in January–June 2026, a period in which the company raised about €25 million in a January directed share issue. In June 2026 Business Finland granted €77.8 million in grants and loans for Factory 02 in Lappeenranta, conditional on a final investment decision planned for 2026. Cash stood at €27.0 million on June 30, 2026.
Solar Foods grows protein from carbon dioxide, hydrogen and electricity, so its output does not depend on farmland or weather. Its commercial push targets US health and performance nutrition: Ambrosia Collective launched a Solein protein powder under its Planta brand on June 2, 2026, and a US lifestyle company placed a product-development order that month. Factory 02 in Lappeenranta is designed to raise annual capacity from 160 tonnes to 6,400 tonnes, with GEA negotiating equipment supply and Fortum handling energy design.
At a glance
Total raised
Undisclosed
Headcount
51-200
Headquarters
Vantaa
FinlandFounded
2017
Status
Public
Subsector
Food Tech, ranked
Top 25 Food Tech companies →Funding history
Total raised
—
Rounds tracked
0
No dated funding rounds on file. This company is privately held and may be raising or operating on undisclosed capital.