Espoo-based biotech startup Enifer has announced that it has secured a grant of over €12 million from Business Finland for its PEKILO mycoprotein factory.
The funding from the EU’s NextGenerationEU scheme aims to build the first industrial facility to recycle and reuse by-products, in line with the Circular Economy Action Plan and Finland’s Sustainable Growth Program.
New commercial scale factory
Enifer’s upcoming commercial-scale plant will use fungal fermentation to produce PEKILO mycoprotein ingredients.
Enifer reports that the PEKILO process, which began in the 1970s, was the world’s first commercial mycoprotein production method, converting forestry byproducts into sustainable feed protein until 1991.
Enifer has enhanced this process to create a food-grade ingredient with neutral taste and color, rich in protein and fiber. Regulatory approval is expected in the first half of 2024, allowing the product to be used in the food industry in the same way as plant-based proteins.
Enifer’s new facility will cost €30 million and is expected to be completed by the end of 2025, and will produce 3 million kg of locally produced sustainable PEKILO mycoprotein per year.
Equivalent to the protein found in the meat of 30,000 cows, it has at least 20 times lower carbon emissions and reduces water and land use. Production will increase in 2026, and a location in the Uusima region will be announced in the first quarter of 2024.
Simo Ellilä, CEO and co-founder of Enifer, said: It is an absolute honor for Ennifer to finally be able to accomplish that mission after more than 50 years. ”
“This plant will be an important stepping stone in scaling up production of PEKILO as a truly universal protein source. We aim to commercialize it worldwide across a variety of applications.”
“PEKILO’s unique history has allowed us to make a huge leap from an existing pilot directly to a commercial-scale facility.”
“We are very grateful for the financial support approved by Business Finland and the European Union NextGenerationEU program, which will allow us to take this big step next year,” Elila added. Ta.
Overview about Enifer
Enifer spun out from Finland’s VTT Technology Research Center in 2020 and focuses on advancing PEKILO technology. This process, originally from the Finnish forestry industry, converts dilute side streams into protein-rich PEKILO mycoproteins.
The company has established partnerships with major global companies in the feed and food industry, including Skretting, Purina and Valio.
In spring 2023, Enifer raised €11 million in Series A funding.