Solar Foods Oyj, press release 15 July 2025 at 9.30 EEST
Solar Foods has signed a Letter of Intent regarding commercialisation of 500-1,650 tonnes of Solein® per year
Solar Foods has signed a Letter of Intent with a leading international brand in Health & Performance nutrition with the aim of commercializing altogether 500-1,650 tonnes of Solein® annually during the period 2026-2030. The Letter of Intent outlines the preliminary intention of the companies to collaborate on the development of products in the Health & Performance category as well as the fundamental principles of the planned collaboration towards binding agreements.
Should the collaboration lead to a binding agreement, the higher end of the volume commitment of 1,650 tonnes per year would correspond to approximately 13% of the full production capacity of Factory 02, now in its pre-engineering phase.
Factory 02 is planned to be constructed in three phases, ensuring an efficient cost structure and optimised unit economics. Aimed to be fully operational in 2030, it has an annual planned capacity of 12,800 tons, which is nearly a hundred times the design capacity of the already operational Factory 01. Solar Foods aims to have phase 1 operational in 2028, and the following phases in 2029 and 2030. The final investment decision for Factory 02 is planned to be made in 2026.
Earlier this year, Solar Foods signed two Memorandum of Understandings with two customers for commercialisation plan of altogether 6,000 tonnes of Solein per year. Should these collaborations together with this LOI lead to a binding agreement, the total volume commitment would correspond to approximately 50-60% of the full production capacity of Factory 02.
"These agreements strongly validate Solein's commercial potential, and should the collaborations lead to binding agreements, they would correspond already to a major share of the production capacity of Factory 02. Customers' interest towards Solein also plays an important role in preparing for the final investment decision for Factory 02", says Rami Jokela, CEO of Solar Foods.
Solein represents a high-potential, next-generation ingredient especially in the Health & Performance category, offering the food industry a compelling innovative protein solution. Recognizing Solein's strategic value, the intention of this collaboration is to advance product development and explore integration into end-customer offerings, e.g., ready-to-mix protein shakes and protein bars.
"Our goal is to develop products that meet consumer demands for nutrition, taste, and functionality - while delivering a distinct advantage in sustainability and future supply security", Jokela continues.
Additional information:
Rami Jokela, CEO, rami.jokela@solarfoods.com, tel. +358 10 579 3288
Images for editorial use: www.solarfoods.com/media
Certified Advisor
DNB Carnegie Investment Bank AB (publ)
What is Solein?
Solein is an all-purpose protein grown with the air we breathe: The unique bioprocess takes a single microbe, one of the billion different ones found in nature, and grows it by fermenting it using air and electricity. Solein is a nutritionally rich and versatile ingredient which can replace protein virtually in any food. Solein can also be used as a fortifier to complement the nutritional profile of various foods: it can be a source of iron, fibre and B vitamins, and it can also bring different techno-functionalities into food products. Learn more at www.solein.com.
About Solar Foods
Solar Foods produces Solein®, a protein created using carbon dioxide and electricity. This innovative production method is independent of weather and climate conditions, eliminating the need for traditional agriculture. Founded in Finland in 2017, Solar Foods is listed on the Nasdaq First North Growth Market Finland. Learn more at www.solarfoods.com and investors.solarfoods.com.
