MATR Foods Secures €20 Million EIB Loan to Boost Plant-Based Meat Production

MATR Foods Secures €20 Million EIB Loan to Boost Plant-Based Meat Production

(IN BRIEF) Danish foodtech start-up MATR Foods has received a €20 million loan from the European Investment Bank (EIB) to expand its production of plant-based meat alternatives. Backed by the European Commission’s InvestEU initiative, the funding will help MATR build its first large-scale production facility and enhance research and development. MATR uses solid-state fermentation of local crops like beetroots and peas to create healthier, sustainable meat alternatives. The project aligns with EU goals for greener, healthier food systems, contributing to the EU Green Deal and Farm to Fork strategy.

(PRESS RELEASE) LUXEMBOURG, 13-Sep-2024— /EuropaWire/ — Danish foodtech company MATR Foods has received a €20 million loan from the European Investment Bank (EIB) to expand its production of plant-based meat alternatives. The funding, supported by the European Commission’s InvestEU initiative, will allow MATR to construct its first large-scale production facility and advance research and development in sustainable food solutions.

MATR’s innovative use of solid-state fermentation technology transforms local crops, such as beetroots, peas, lupins, and potatoes, into fungi-based meat alternatives that offer environmental and health benefits. With a carbon footprint 94% lower than traditional beef, MATR’s products align with the EU’s Green Deal and Farm to Fork strategy to promote greener, more sustainable food systems.

EIB Vice-President Ioannis Tsakiris emphasized the importance of innovation in the green transition, praising MATR’s efforts to combine agriculture and technology. MATR’s CEO, Randi Wahlsten, expressed enthusiasm for the support, noting that the loan will accelerate large-scale production, with the aim to produce over 3,000 tonnes of product annually, reducing CO2 emissions by more than 100,000 tonnes per year.

Background information

The European Investment Bank is the long-term lending institution of the European Union, owned by its Member States. It finances investments that contribute to EU policy objectives. EIB projects bolster competitiveness, drive innovation, promote sustainable development, enhance social and territorial cohesion, contribute to peace and security, and support a just and swift transition to climate neutrality. The Group’s AAA rating allows it to borrow at favourable conditions on the global markets, benefiting its clients within the European Union and beyond. The Group has the highest ESG standards and a tier one capital ratio of 32%.

The InvestEU programme provides the European Union with crucial long-term funding by leveraging substantial private and public funds in support of a sustainable economy. It helps generate additional investments in line with EU policy priorities, such as the European Green Deal, the digital transition and support for small and medium-sized enterprises. InvestEU brings all EU financial instruments together under one roof, making funding for investment projects in Europe simpler, more efficient and more flexible. The programme consists of three components: the InvestEU Fund, the InvestEU Advisory Hub, and the InvestEU Portal. The InvestEU Fund is implemented through financial partners who invest in projects using the EU budget guarantee of €26.2 billion. This guarantee increases their risk-bearing capacity, thus mobilising at least €372 billion in additional investment.

MATR Foods is a Danish foodtech start-up that combines microbiology and gastronomy to create new solutions to some of the world’s biggest challenges; the climate, biodiversity and health crises. MATR is founded in 2021 and has production in Copenhagen’s Nordhavn. The people behind MATR are an international team of researchers, chefs and entrepreneurs with experience from the food industry. MATR Foods fungi products are currently available at restaurants, canteens and retailers across Denmark. Current investors include Novo Holdings and the BioInnovation Institute.

[1] https://apps.carboncloud.com/climatehub/organizations/MATR

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SOURCE: European Investment Bank