Solar Foods Oyj, press release 11 August 2025 at 17.45 EEST
The pre-engineering of Factory 02 is progressing - Solar Foods and the City of Lappeenranta, Finland are preparing an agreement to reserve a site for preliminary studies
Solar Foods and the City of Lappeenranta in Finland are preparing a cooperation agreement on reserving a site in Selkäharju, Lappeenranta, for the company. The purpose of reserving the site is to enable Solar Foods to carry out preliminary studies necessary for the implementation of the Factory 02 production facility. The cooperation agreement precedes the actual agreement and investment decision, which is expected to be made in 2026. The company continues to also explore other possible locations for the production facility.
Solar Foods is evaluating suitable locations for its future industrial-scale production facility Factory 02. As a result of the evaluation, a site in Selkäharju, Lappeenranta, Finland has been selected as one possible location for the production facility. With the cooperation agreement the City of Lappeenranta reserves the site for Solar Foods and agrees to not transfer or give the right to investigate the site to others during the reservation period. The agreement also outlines the principles and target schedule for selling or renting the site. Based on the reservation, the city also agrees to sell or lease the site to Solar Foods according to the key terms and conditions defined in the cooperation agreement. The agreement is due to be signed in September. Solar Foods must notify the city by writing by the end of the reservation period, 31 March 2028, whether the company will buy or lease the site or part of the site from the city.
Solar Foods has used the Selkäharju site as a basis in the pre-engineering phase of Factory 02. The 13,5-hectare area in Selkäharju offers exceptional electricity supply opportunities and possibilities to integrate into the city's district heating network. Solar Foods continues to evaluate also other possible locations for the production facility. The final decision about the location is expected to be made during 2025 and the final investment decision during 2026.
The investment decision for Factory 02 is affected by the funding decision related to the IPCEI notification (Important Project of Common European Interest) granted by the European Commission. The IPCEI-notification granted to Solar Foods amounts to EUR 110 million. The remaining possible funds amount to approximately EUR 66 million, which is intended to partially cover the costs for the construction of Factory 02. The company does not have a funding decision for that amount yet.
Additional information:
Tiia Kuusimäki, COO, tiia.kuusimaki@solarfoods.com, tel +358 10 579 3284
Images for editorial use: www.solarfoods.com/media
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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.
