In a significant move that aligns with the European Union's push for greener, healthier food systems, Danish foodtech start-up MATR Foods has secured a €20 million loan from the European Investment Bank (EIB). This funding, part of the European Commission's InvestEU initiative, will facilitate MATR's expansion and enable the construction of its first full-scale production facility. MATR specializes in clean-label, plant-based meat alternatives, using innovative solid-state fermentation technology to create sustainable food products with low environmental impact.
The Rise of Plant-Based Alternatives: A Key to a Greener Future
As the world grapples with the effects of climate change, the demand for sustainable food alternatives is growing rapidly. Plant-based products, which are seen as a way to reduce the carbon footprint of traditional meat production, have become increasingly popular with both consumers and investors. MATR Foods is at the forefront of this trend, creating plant-based meat alternatives that are healthier, environmentally friendly, and aligned with EU goals for food system transformation.
EIB Vice-President Ioannis Tsakiris expressed optimism about MATR’s potential: “Plant-based meat alternatives not only have high potential for growth, but also bring environmental and health benefits. 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.”
A Focus on FoodTech: Solid-State Fermentation
At the heart of MATR's product line is a revolutionary approach: solid-state fermentation technology. This method uses widely available local crops, such as beetroots, potatoes, lupins, and peas, to produce natural fungi-based alternatives to meat. This process contrasts with traditional plant-based meat substitutes that rely heavily on processed soy or wheat proteins. MATR’s fermentation technology results in a new generation of plant-based foods that are not only natural but also minimally processed.
MATR's Chief Executive Officer and co-founder, Randi Wahlsten, shared the company's excitement about the expansion: “Our products have been received overwhelmingly well by chefs, restaurants, and consumers, clearly confirming the appetite for cleaner, healthier, and juicier alternatives to meat. We are thrilled that the EIB, with its strong support, enables us to take the production to scale as fast as possible.”
A Leap Toward Large-Scale Production
The €20 million loan from the EIB marks a pivotal step for MATR, enabling the company to scale production of its signature fungi-based product. The first large-scale facility, set to be built with the funding, is expected to produce over 3,000 tonnes of plant-based alternatives annually. This expansion not only meets rising consumer demand but also positions MATR as a key player in the sustainable food market.
MATR’s products are distinguished by their clean-label status and a minimal ingredient list consisting of all-natural components sourced primarily from the Nordic region. Moreover, they are lower in fat compared to previous generations of meat substitutes, making them an attractive option for health-conscious consumers.
Environmental Impact: Drastically Reducing Carbon Footprint
One of the most significant selling points of MATR’s plant-based alternatives is their drastically reduced environmental impact. The carbon footprint of MATR’s products is around 1.6 kilograms of CO2 per kilogram of product, which is approximately 94% lower than that of beef. As the company expands its production, the planned facility is expected to reduce the carbon emissions of European meals by more than 100,000 tonnes of CO2 annually, contributing to Europe’s broader climate goals.
The company's commitment to sustainability aligns with the EU's Farm to Fork strategy and the Green Deal, both of which prioritize the creation of healthier and more sustainable food systems.
EU Backing and InvestEU Initiative
MATR’s expansion is supported through the European Commission’s InvestEU initiative, which plays a crucial role in promoting sustainable investments. The InvestEU programme provides the European Union with long-term funding by leveraging substantial public and private funds to support projects that align with the EU’s policy priorities, including the Green Deal and the digital transition. By backing MATR Foods, the EU is not only investing in the future of food but also contributing to its broader goals of reducing carbon emissions and promoting a bio-based economy.
InvestEU’s Role in Financing Sustainable Innovations
The InvestEU programme is a critical pillar of the EU’s strategy to drive sustainability through financial support. The programme consists of three components: the InvestEU Fund, the InvestEU Advisory Hub, and the InvestEU Portal. The InvestEU Fund, which is backing MATR Foods, uses the EU budget guarantee of €26.2 billion to mobilize at least €372 billion in additional investments across a range of sectors, including sustainable food systems. This substantial funding increases the risk-bearing capacity of financial partners and enables them to invest in high-impact projects like MATR’s production facility.
Looking Ahead: The Future of MATR Foods
Founded in 2021, MATR Foods is a young and ambitious player in the foodtech space. Based in Copenhagen’s Nordhavn district, the company boasts a team of international researchers, chefs, and entrepreneurs who are passionate about addressing some of the world’s most pressing challenges—namely, climate change, biodiversity loss, and public health crises. By combining cutting-edge microbiology with a deep understanding of gastronomy, MATR has developed a product that is not only sustainable but also delicious.
Currently, MATR’s fungi-based meat alternatives are available in select restaurants, canteens, and retailers across Denmark. With backing from major investors, including Novo Holdings and the BioInnovation Institute, and now the €20 million EIB loan, the company is poised for rapid growth. As the world’s appetite for plant-based foods continues to rise, MATR’s innovative products are well-positioned to capture a significant share of the market.
Conclusion: A Sustainable Solution for the Future of Food
MATR Foods is more than just a start-up—it’s a pioneering force in the growing field of plant-based meat alternatives. With the support of the European Investment Bank and the InvestEU initiative, MATR is set to make a significant impact on both the food industry and the environment. By expanding production and continuing to innovate, the company is not only meeting the demands of today’s consumers but also contributing to a more sustainable and health-conscious future.
As the company looks ahead, its commitment to innovation, sustainability, and quality will continue to shape the future of food, offering cleaner, greener alternatives that can help mitigate the climate crisis while satisfying the global palate.
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