Solar Foods
Solar Foods is commercialising Solein, a novel nutritional protein produced mainly from carbon dioxide and electricity.
Funding rounds
10/2023, 4/2024
Valuation after the last round arranged by Springvest
€207.75 million
Sector
Environmental technology
Exit type
Listed, 5/2024
Exit information
Solar Foods, the developer of the world’s most environmentally friendly protein, Solein, listed its shares on the Nasdaq First North Growth Market Finland in autumn 2024. Since listing its shares, the company has, for example, been registered in the United States as a food facility.
Investment multiple based on listing
1.35x (in less than a year) based on closing price on listing date
Market value
Market value on first trading day
Approx. €300 million
Investment’s IRR
44% (11/2023 round), 123% (4/2024 round)
Springvest funding in total
€16 million
Springvest remains a minority shareholder in Solar Foods.
