Big Idea:

Finnish biotech startup Enifer has secured a €12 million grant from the European Union’s NextGenerationEU programme to pioneer the world's first commercial-scale PEKILO® mycoprotein technology, converting industrial by-products into a high-quality, sustainable protein source.

Why It Matters:

The alternative protein market is expected to reach $423 billion by 2033, driven by global environmental and health awareness. Enifer's technology taps into this burgeoning market, offering alternative protein with at least 20 times lower carbon emissions compared to traditional protein sources.

Key Details:

• PEKILO® is a neutral-tasting, colorless 70% protein and fiber-rich powder suitable for various food applications, similar to plant proteins.
• Enifer's factory aims to produce 3 million kilograms of sustainable protein annually, equivalent to the protein from 30,000 cows but with lower environmental costs.
• The PEKILO® process, a reinvention of a 1970s technology, uses fungal fermentation of industrial by-products to produce a high-protein, fiber-rich ingredient.
• Enifer’s project is supported by Business Finland and the EU’s NextGenerationEU program, with strategic partnerships including Skretting, Purina, and Valio.

“This plant will be a critical stepping stone to scaling the production of PEKILO® as a truly universal protein source – which we aim to commercialize globally across different applications,” shares Simo Ellilä, CEO and co-founder of Enifer.

What’s Next:

Enifer's immediate focus includes completing the factory by the end of 2025, scaling up production in 2026, and anticipating regulatory approval for food-grade mycoprotein by 2024, setting the stage for a wider market launch.