Biotech company based in Poland secures €9.5 million in European financing
In the realm of sustainable agriculture, European companies are making strides in the alternative protein sector, attracting significant funding to drive innovation and tackle environmental challenges.
One such company is Proteine Resources, a Polish insect protein producer backed by deeptech investors SMOK Ventures, Bitspiration Booster, and Labena Ventures. With a recent €9.5 million investment from the European Innovation Council Accelerator, Proteine Resources is transforming a significant environmental challenge in agriculture into a scalable business with real biotech credentials.
The funds will be used to build an AI-driven insect protein factory producing ingredients for meat-free pet food. Proteine Resources' protein-rich products are said to enhance animal health by supporting the digestive system and boosting immunity. Moreover, the company's closed-loop system utilizes 100% of agricultural inputs for production, unlike traditional farming methods where 40% of feed is wasted.
Another notable player in the alternative protein sector is Protix, a Netherlands-based company specializing in insect-derived ingredients for pet food, aquaculture, and livestock feed. In 2024, Protix secured a €37 million loan from the European Investment Bank to build a production facility in Poland. Protix's investors include the European Circular Bioeconomy Fund, BNP Paribas, and other impact funds, underscoring growing institutional support for insect protein producers in Europe.
Protix has also formed a joint venture with US meatpacking giant Tyson Foods to build an insect plant in the US.
The European Union is also committed to boosting food innovation through fermentation technologies, with a substantial public funding of €350 million. This target includes sustainable alternative proteins among other goals.
Other European startups making waves in the alternative protein sector include Mewery from the Czech Republic, developing cultivated meat from microalgae and animal cells, and Mosa Meat, pioneers in cultured meat, both of which have secured funding from the European Innovation Council Accelerator. Rival Foods and Vivici, Dutch companies focusing on plant-based technology and precision fermentation-based protein ingredients respectively, have also received substantial investment.
In summary, companies like Proteine Resources and Protix are notable European recipients of significant funding in the alternative protein sector, alongside other ventures focused on cultivated and plant-based meat alternatives. This trend of investment suggests a promising future for sustainable and innovative agriculture in Europe.
- The alternative protein sector, which includes companies like Proteine Resources and Protix, is receiving substantial finance from development finance institutions, such as the European Innovation Council Accelerator and the European Investment Bank, to drive innovation and tackle environmental challenges.
- With the rise of alternative protein producers in Europe, the industry is increasingly attracting interest from traditional financial sectors, with investors like SMOK Ventures, BNP Paribas, and the European Circular Bioeconomy Fund backing insect protein producers.
- The European Union is taking an active role in supporting food innovation, providing €350 million in public funding for projects that include sustainable alternative proteins, such as those being developed by Mewery and Mosa Meat.
- Companies in the environmental-science and technology sectors, like Rival Foods and Vivici, are also receiving significant investment in Europe for their plant-based technology and precision fermentation-based protein ingredients, contributing to the energy transition in the food industry and overall social impact.
