Fazer Group and Solar Foods into a strategic partnership
Fazer Group and Solar Foods, a Finnish foodtech start-up, have entered into a strategic partnership with the objective to jointly research and develop Solar Foods’ novel protein ingredient Solein®. On Fazer’s journey to a modern sustainable food company with a joint direction, the aim is to innovate across categories and boldly support innovations that may change the way people eat in the future. Changes in the food system and consumption habits are key to abate climate change, and with the newly entered partnership, Fazer Group wants to promote research on new solutions.
Fazer Group continues executing its future-oriented growth strategy. Sustainability being an integral part of Fazer’s strategy on its journey to a modern sustainable food company with a joint direction, Fazer sees food as a solution. How we grow, produce and consume food has a significant impact on the environment, on society and on our wellbeing. The recent report by the IPCC (Intergovernmental Panel on Climate Change) highlights the impact of land use as well as food production and consumption on climate change. Changing the food system requires fearless research and innovation; solutions that we do not yet have and that we may not even foresee yet. On the path to sustainable food production, Fazer encourages open innovation to explore novel sustainable food solutions.
Innovation key to sustainable food
As a part of Fazer’s bold agenda of sustainable growth and a position as a forerunner in foodtech, Fazer Group has entered into a strategic partnership with Solar Foods. Solar Foods is a Finnish foodtech start-up, which has developed a novel protein ingredient, Solein[®]. Solein[®] is a carbon neutral protein, which can be produced completely independently from soil, negative land use impacts, weather and climate.
“Fazer believes in open innovation and cross-disciplinary collaboration in creating sustainable and socially significant solutions. Sustainability in food and nutrition is high on Fazer’s research agenda and we want to be an innovative trend setter. Our strong heritage offers us the roots necessary to take on bold innovations. The partnership with Solar Foods is a great example of sustainable innovation, supporting Fazer in reaching our sustainability core goal of 50% less emissions by 2030.” says Christoph Vitzthum, CEO of Fazer Group.
Fazer’s sustainability approach consists of four ambitious core goals by 2030; 50% less emissions, 50% less food waste, 100% sustainably sourced and more plant-based.
Strategic partnership in research
In practice, Fazer will do research on the ingredient and its applicability into different food applications. The ingredient is under rigorous testing to ensure food safety and it is subject to novel food permission by the European Food Safety Authority.
“The undisputed safety of food and great taste will always be the spearhead of our operations and in our objective to grow in Northern Europe and beyond with sustainable and meaningful food experiences in growing categories.” Christoph Vitzthum continues.
The partnership is complemented by a financing agreement, which is part of a recent financing round, where Solar Foods raised 3,5 M€ in total in convertible loans to continue developing the protein ingredient and the R&D roadmap thereof. Besides Fazer Group, Solar Foods received financing from Holdix Oy Ab and Turret Oy Ab as well as Lifeline Ventures.
“We are excited now to go full steam ahead and hope to learn from Fazer’s extensive experience in offering customers new food experiences” says Pasi Vainikka, CEO and co-founder of Solar Foods.
Solar Foods received the world’s most prestigious design award, the Index Award in the beginning of September. The award is supported by the state of Denmark and given for the most impactful solution significant to the environment and improving people’s lives.
Fazer is today celebrating its 128[th ]anniversary. In the afternoon, Fazer arranges an event for invited guests at the Fazer Experience Visitor Centre in Vantaa. The theme of the event is Food and climate. The strategic partnership with Solar Foods is one of the many actions Fazer as a company is initiating to develop solutions and methods for abating climate change.
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