News
EU bank loans €20m to fuel growth of plant-based manufacturer
Based in Copenhagen, MATR plans to use the funding to construct a “first-of-its-kind” manufacturing plant for the development of its clean label plant-based meat alternatives.
MATR applies solid-state fermentation technology that utilises widely available local crops such as beetroots, potatoes, lupins and peas for the production of fungi foods.
The firm aims to produce more than 3,000 tonnes of its meat alternatives per year, which can then be used throughout the food manufacturing and foodservice industries.
Currently available across Denmark, MATR’s meat alternatives are also sold in selected restaurants in the UK.
MATR ‘well received by chefs, restaurants and consumers’
“Our products have been received overwhelmingly well by chefs, restaurants and consumers, clearly confirming the appetite for cleaner, healthier and more juicy alternatives to meat,” said Randi Wahlsten, CEO and co-founder of MATR.
Made from all-natural ingredients that are low in fat compared with previous-generation meat alternatives, MATR products undergo minimal processing and have a carbon footprint of around 1.6 kilogrammes of CO2 per kg of product – about 94% lower than that of beef. This means that the planned production facility will enable a direct climate impact reduction of European meals of more than 100,000 tonnes of CO2 per year.
Wahlsten added: “We are thrilled that the EIB, with its strong support, enables us to take the production to scale as fast as possible.”
EIB funding is supported by the InvestEU initiative of the European Commission and finances investments that contribute to EU policy objectives.
"Plant-based meat alternatives not only have high potential for growth, but also bring environmental and health benefits," said EIB Vice-President Ioannis Tsakiris.
"When it comes to financing the green transition, innovation is a key part along with agriculture. MATR brings these two priority areas together and we are happy to support its endeavour."
In other news, the Competition and Markets Authority has launched an inquiry into the proposed acquisition of two ForFarmers owned feed mills by Boparan Private Office.
