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Enifer Bio Bags €12 M to Build Mycoprotein Factory

Finnish biotech startup Enifer Bio has made a substantial leap in sustainable food production by securing over €12 million in grants from Business Finland. This funding, sourced from the European Union’s NextGenerationEU instrument, is a pivotal investment in Finland's sustainability and technological innovation.

A New Era in Sustainable Protein Manufacturing

The grant will fund the construction of a groundbreaking PEKILO mycoprotein factory. This facility, with a capacity to produce around 3 million kilograms of PEKILO® mycoprotein annually, is equivalent to the protein yield from 30,000 cows but boasts at least 20 times lower carbon emissions. This innovative project aligns with the EU's Circular Economy Action Plan and Finland's Sustainable Growth Programme, heralding a new era in sustainable biotechnology.

PEKILO Mycoprotein: A Legacy Revived

Enifer's commercial-scale factory will utilize the PEKILO® fermentation process, a technology with origins in the 1970s developed by Finnish forest industry engineers. This process was the world’s first commercial mycoprotein production method, transforming forest industry by-products into sustainable feed protein. Enifer has enhanced this technology to produce a food-grade, protein- and fiber-rich powder with a neutral taste and color, suitable for a wide range of food industry applications. The company is set to file for regulatory approval of its food-grade ingredient in the first half of 2024.

Strategic Location and Development Partnerships

Scheduled to be operational by the end of 2025, with production ramping up in 2026, the €30M factory will be built in the Uusimaa region. Enifer collaborates with AFRY, a renowned design and engineering company, for the facility's basic engineering, underscoring the project's blend of innovation and expertise.

Visionary Leadership and Global Aspirations

Simo Ellilä, CEO and Co-founder of Enifer, notes, "A key objective for the original developers of PEKILO® was to take this amazing source of protein to food applications. It is an absolute privilege for Enifer to be able to finally complete that mission, more than 50 years on.” This project is seen as a critical stepping stone in scaling the production of PEKILO® as a universal protein source, aiming for global commercialization.

Financial Foundations and Industry Collaboration

The project's financial grounding is further strengthened by Enifer's €11M series A funding raised in spring 2023. The company has established partnerships with global leaders in various sectors, including Skretting, Purina, and Valio, reflecting its strong position in the feed and food industries.


Enifer Bio's initiative represents a significant milestone in sustainable biotechnology and a major advancement for the Finnish and global biotech industries. As the world seeks sustainable solutions for food production and circular economies, Enifer Bio's work in PEKILO mycoprotein production stands as a shining example of what can be achieved through dedication, innovation, and a commitment to environmental stewardship.


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