Sweden

Hooked Foods

© Hooked Foods
Investments & Finance

Sweden’s Hooked Foods Raises SEK 8.4M for New Vegan Products and AI Integration

Swedish foodtech company Hooked Foods has secured SEK 8.4 million in a combination of equity financing, loans, and grants to support its expansion and new product launches. The capital will primarily be allocated towards the introduction of new plant-based items, slated to hit the market this month. The company has been focused on refining its product range, including the development of new recipes and improvements in production efficiency. These efforts have resulted in reduced operational costs and better profit margins. New offerings, such as Vegobitar Original, Vegobitar Kebab, Vegobitar Seafood Flavors, and Vegofilé Original, will be launching soon. These products are designed to deliver over 20g of protein per 100g, with simple ingredient lists that provide high nutritional value. In the past year, Hooked Foods …

more

Organisations and brands:

Fermented fats

Image supplied
Fermentation

Melt&Marble Partners With Valio to Develop Plant-Based Foods Containing Fermented Fats

Melt&Marble, a Swedish startup producing fat ingredients using precision fermentation, has partnered with major Finnish food company Valio to develop plant-based foods made with fermented fats. The long-term research collaboration will involve studying the properties of new types of fat produced by Melt&Marble, before commercializing plant-based foods containing the fats. These should have improved mouthfeel, structure, and succulence compared to existing plant-based alternatives. The fermented fats will need to gain novel foods approval to be sold on the European market, meaning it will take several years for the products to arrive on supermarket shelves. In the US, Melt&Marble’s products will undergo the FDA’s Generally Recognized as Safe notification process, which should allow for faster approval. Consequently, commercialization may begin in the US by the end …

more

Organisations and brands:

© ALFA LAVAL
Manufacturing & Technology

Alfa Laval’s New Food Innovation Centre to Focus on Protein Solutions for a Sustainable Food Future

Alfa Laval has announced the establishment of a new Food Innovation Centre in Copenhagen, Denmark, to drive innovation in food production and reduce the environmental impact of the global food system. The facility, set to open in 2027, will focus on advancing protein processing solutions and supporting the development of next-generation and conventional food technologies. Transforming the food system The global food system accounts for a third of greenhouse gas emissions, consumes 70% of freshwater, and is a leading driver of biodiversity loss. Lars Dithmer, President of Alfa Laval Business Unit Food Systems, emphasizes the company’s role in addressing these challenges: “With our range of technologies, solutions and competences, Alfa Laval is in a strong position to enable food and beverage producers to take a …

more

Organisations and brands:

© Örebro University
Science

PAN Sweden Works to Accelerate Protein Transition by Studying Health & Sensory Properties of Plant Protein

PAN Sweden Research Centre, an initiative coordinated by Örebro University, is studying the health impacts and sensory properties of plant-based proteins with the aim of aiding the transition to a more sustainable food system. Currently, the centre is investigating the impact of the processing, structure, and digestion of plant proteins and fibre on gut, metabolic, and mental health. It is also working to improve the sensory properties of plant-based products and develop methods of influencing consumer behaviour. This could include policies and regulations to accelerate the protein transition. PAN Sweden hopes to help meet Agenda 2030, an agreement that was adopted by all United Nations members in 2015 and outlines 17 world Sustainable Development Goals. These include improving health, ending hunger, and taking action on …

more

Organisations and brands:

Sproud Barista Zero pea milk

© Sproud
Milk- and Dairy Alternatives

Sproud Launches Sugar-Free Barista ZERO Pea Milk

Swedish pea milk brand Sproud has launched a new product, Barista ZERO, formulated with no sugars or added sweeteners. Designed to provide baristas with exceptional performance, the new formula is said to have a smooth, creamy texture and neutral taste, with twice as much protein as oat milk. It offers long-lasting microfoam that can be used to create latte art by professionals and home baristas alike. Made from yellow split peas, Sproud products are free of major allergens and are claimed to have the lowest climate impact of any dairy or plant-based milk on the market. Barista ZERO makes its debut today (November 11) at the European Coffee Symposium in Berlin, where Sproud is the official milk alternative sponsor. “Uncompromising product” The news comes just …

more

Organisations and brands:

Oatly's oat milk cartons

© Oatly

Facts & Figures

Oatly Achieves 9.6% Revenue Growth and Expands Market Share in Q3

Oatly has reported its financial results for the third quarter of 2024, showing significant improvements in gross margin, volume growth, and strong progress in North America, moving closer to profitability. The company’s revenue for the second quarter increased by 10.9% to $208 million, or 9.6% year-on-year when excluding currency fluctuations. Gross profit nearly doubled from $32.6 million in 2023 to $62.0 million in 2024, and the gross margin in the third quarter was 29.8%, an improvement of 12.4 percentage points over the same period in the previous year. These improvements were mainly due to enhanced supply chain efficiency, particularly in North America and Greater China, and a strategic shift in product mix in Greater China, according to the report. Increased revenue in retail and food …

more

Organisations and brands:

Maya Jama invests in Sproud

© Charlie Sarsfield/Sproud
Investments & Acquisitions

TV Presenter Maya Jama Becomes Investor & Co-Owner of Plant Milk Brand Sproud

Award-winning British television presenter and entrepreneur Maya Jama has become an investor and co-owner of Swedish pea milk brand Sproud. Jama is a two-time British Vogue cover star and the face of global campaigns for Rimmel, Dolce & Gabbana, and Self-Portrait. She is known as the host of last year’s Fashion Awards, this year’s BRIT Awards, and the popular ITV series Love Island. Additionally, Jama was recognised on this year’s Forbes 30 Under 30 List. Following the investment, she will act as a strategic advisor and brand ambassador to Sproud, becoming the face of the company. “I’m really excited to become a co-owner of Sproud,” said Jama. “There’s a lot to love — the products taste amazing, and the packaging is eye-catching, too, but ultimately …

more

Organisations and brands:

The Swedish Mineral Shift project, aiming to enhance mineral absorption from grains, has optimized an ancient process called hydrothermal treatment to reduce phytic acid, the antinutrient that binds mineral absorption.

© Axfoundation
Science

Swedish Hydrothermal Treatment Innovation Makes Grains Mineral-Rich Like Meat

Consuming more plant-based foods and less red meat can benefit both personal health and the environment. Grains and legumes offer plant-based proteins and essential minerals like iron and zinc for healthy and nutritious diets. However, our bodies absorb minerals from meat more easily than those found in grains, challenging the shift to plant-based diets. The Mineral Shift, a Swedish project aiming to enhance mineral absorption from grains, has optimized an ancient process called hydrothermal treatment to reduce phytic acid, the antinutrient that binds mineral absorption. “This is a great example of how minerals can be significantly more available from grain products, making it easier for more people to eat sustainably without compromising on nutritional content. Whole grains are among the most sustainable foods we can …

more

Lars-Gunnar Edh. © Lantmännen
Protein

PAN Sweden & Lantmännen Receive €3.54M to Make Sweden a Leader in Sustainable Plant-Based Proteins

Research centre PAN Sweden has received SEK 40 million (€3.54 million) in funding from the Swedish government research council Formas, allowing it to continue its work on plant-based proteins. PAN Sweden is coordinated by Örebro University and studies how plant-based protein sources can be processed into tasty and nutritious products. The centre aims to make Sweden a world leader in sustainably produced plant-based protein foods. Agricultural cooperative Lantmännen is one of the key actors involved in PAN Sweden, and contributes its extensive knowledge of plant-based proteins. The new grant from Formas will allow the centre to continue its research for another four years. “It is important to have a high level of commitment among companies and the public sector in order to be able to …

more

Organisations and brands:

Swedish plant-based food company Havredals announces the launch of its plant-based meat range in the New York Metro area, following its debut in Virginia this February.

Havredals' fava chicken patty - Image courtesy of Havredals

Meat- and Fish Alternatives

Havredals’ Fava Bean Meat Range Rolls Out in New York Metro Area in Response to High Demand

Swedish plant-based food company Havredals announces the launch of its fava-bean meat range in the New York Metro area, following its debut in Virginia this February. Despite the decline of plant-based meat sales in the USA, Havredals says it has been experiencing strong demand for its great-tasting and affordable beef and chicken offerings crafted with fava beans, peas, and oats from regenerative farming, which, moreover, are soy, gluten, and GMO-free. Listed with Performance Food Group (PFG), the company’s distribution partner in the country, Havredals’ range is now available for food service customers across New York, New Jersey, Connecticut, and Pennsylvania, marking a substantial expansion in the Northeast. The Swedish company states, “This expansion highlights Havredals’ mission to drive positive change in the food industry, contributing …

more

Organisations and brands:

Precision fermentation startup Melt&Marble has achieved a milestone in biomanufacturing with the demo-scale production of over ten thousand liters of fermented fats.

Image courtesy of Melt&Marble
Fermentation

Fermented Fats Designer Melt&Marble Achieves 10,000-Liter Production Milestone

Precision fermentation startup Melt&Marble has achieved a milestone in biomanufacturing with the demo-scale production of over ten thousand liters of fermentation for fats. According to the Swedish startup, the target bioprocess performance was maintained throughout the scale-up, achieving a 10-fold increase in bioreactor volume while sustaining comparable strain and performance metrics. This achievement builds on a previous bioreactor trial and demonstrates the platform’s scalability and robustness, explains Melt&Marble. CEO Anastasia Krivoruchko shares, “Scale-up of fermentation processes can be tricky, and we’re extremely proud of what our scientific team has managed to achieve in such a short amount of time.” Better alternatives for tasty food The large amount of fat produced from this demo will enable the company to conduct application pilots to fine-tune the fat’s use …

more

Organisations and brands:

Employees breaking the ground of the new faba and pea facility

© Lantmännen
Investments & Acquisitions

Swedish Cooperative Lantmännen Invests SEK 1.2 Billion in New Pea & Faba Protein Facility

Swedish cooperative Lantmännen announces a SEK 1.2 billion (€105M) investment in a new plant-based protein facility in Lidköping, Sweden. Expected to be operational by the first half of 2027, the new plant will produce 7,000 tonnes of pea and faba protein isolates annually for plant-based foods, from meat and dairy alternatives to sports drinks, gluten-free pasta and bakery products. The plant will create approximately 30 new jobs directly, plus hundreds of additional opportunities during the plant’s construction phase. Magnus Kagevik, Group President and CEO of Lantmännen, shares, “We need to produce more food to supply the world’s growing population, and there is a global and long-term increasing demand for plant-based proteins as a food ingredient. The investment (…) will strengthen the entire value chain from …

more

Organisations and brands:

mycorena whole cut

© Mycorena
Company News

Mycorena Acquired by Biomass Fermentation Firm Naplasol, Member of Animal Protein VEOS Group

After facing significant financial challenges, mycoprotein pioneer Mycorena filed for bankruptcy earlier this year, seeking new ownership to build upon its innovations and market presence. Today, Naplasol, a VEOS group member, announces the acquisition of the Swedish company. Naplasol specializes in biomass fermentation to produce mycoproteins and offers various ingredients for food applications. VEOS Group, founded in 1974 and headquartered in Belgium, is a global leader in the animal protein market with production facilities worldwide. It serves the food, pet, and feed industries and is supported by a global sales network. According to the announcement, Naplasol plans to produce Mycorena’s flagship product, Promyc, at its industrial facility in Bree, Belgium, to enhance its portfolio and offer new sustainable proteins. Wim Slee, co-CEO of VEOS Group, …

more

Organisations and brands:

Plant-based fish company Hooked Foods announces it has expanded its product portfolio with new options, including plant-based chicken.

© Hooked Foods
Products & Launches

Hooked Foods Launches New Vegan Seafood, Enters Chicken Category, Gains Listings at Sweden’s Biggest Retailers

Swedish startup Hooked Foods announces it has expanded its product portfolio with further vegan seafood options as well as new plant-based chicken products, marking its entrance into a new category. The products will be available in Sweden’s two largest major retail chains — ICA Gruppen and Coop Sverige — starting October 2024. The new products were created to meet the demand for specific plant-based products, following input from partner retailers and consumers, say the founders. In addition to the NPDs, Hooked Foods has revamped its packaging design in response to consumer demand for transparency. The new packaging is said to include easy-to-understand product images, clear labeling, and a focus on honesty and safety, emphasizing honesty and safety. It has been designed to reflect the company’s …

more

Organisations and brands:

The Green Dairy develops burgers made from oat milk residue to be served at Way Out West

Image courtesy of The Green Dairy
Meat- and Fish Alternatives

Swedish Alt Dairy Company Turns Oat Milk Residues Into Burgers to Feed Music Festival Way Out West

The Green Dairy, a Swedish company producing primarily plant-based dairy alternatives, has found a way to turn its oat milk residues into ultra-sustainable plant-based burgers. Investments made by the company have led to the development of what is claimed to be the world’s first pilot equipment for drying residual mass, making it possible to produce food from an oat milk byproduct known as ReOat®. The first product made from the ingredient is a veggie burger, which will be exclusively served at the music festival Way Out West from August 8-10. First cow-free festival in Sweden Way Out West has a strong focus on sustainability and is the first music festival in Sweden to exclude cow’s milk and meat. It is also the first worldwide to …

more

Organisations and brands:

Millow has secured a €2.4 million grant from the European Innovation Council (EIC) Accelerator.

© Millow
Company News

Millow Awarded €2.4M EU Grant to Scale Whole Food Mycelium-Oat Meat Alternatives

Swedish startup Millow has secured a €2.4 million grant from the European Innovation Council (EIC) Accelerator and the SMEs Executive Agency (EISMEA) to scale production at its pilot facility in Gothenburg. According to the announcement, the grant from EISMEA unlocks an opportunity for Millow to receive up to €15 million in equity funding from the European Investment Bank, contingent on the startup securing additional investments from private investors. Millow is championing meat alternatives that emphasise health and whole food ingredients. Its products, made with 50% mycelium and 50% Swedish oats, are said to be high in protein, easily digestible, and free from artificial ingredients, GMOs, binders, and additives. Esmaeil Taherzadeh, co-founder and executive board member of the company, informs vegconomist that the startup has already co-developed …

more

Organisations and brands:

Three cubes of animal-free fats on a wooden board-

Image courtesy of Melt&Marble
Company News

Melt&Marble Lands €2.76M in EU Grants for Market Launch of “Designer” Fats in 2025

Sweden’s Melt&Marble has been selected as one of 68 European deep tech startups chosen from 969 applicants to receive a €2.5 million grant from the European Innovation Council (EIC) Accelerator. The company also announces that it has secured an additional €260,000 grant from the Horizon Europe Framework Programme. Melt&Marble uses precision fermentation and microbial engineering to create sustainable and resource-efficient alternatives to animal fats, cocoa butter, palm oil, and other agriculturally derived lipids. With the new funding, the female-led company will reduce production costs and accelerate the pre-commercialization of its first products: MeatyMarble and DairyMarble. Co-founder & CEO Anastasia Krivoruchko shares, “The EU’s commitment to supporting innovative food production technologies is truly encouraging. This funding will help bring us a step closer to offering delicious and …

more

Organisations and brands:

Mycorena's product portfolio

© Mycorena
Company News

Mycorena Files for Bankruptcy, Seeks New Ownership to Continue Pioneering Mycoprotein Ingredients

In a sad turn of events, Sweden’s Mycorena, a producer of mycoprotein, has filed for bankruptcy after facing significant financial challenges. The company says it made considerable efforts to overcome these difficulties, including pausing the construction of a large-scale facility and pivoting to a strategic business model. The mycoprotein pioneer also announced that it aims to restructure under new ownership to preserve and build upon its innovations and market presence. According to the leadership statements, there’s optimism that the company can overcome its current challenges and continue its trajectory as a leader in the mycoprotein market. CEO and founder Ramkumar Nair states: “This was not an easy decision, but we believe it is a necessary step to restructure our business and protect the value that …

more

Organisations and brands:

Swedish foodtech startup Mycorena announces the discontinuation of its large-scale factory project in Sweden for scaling its mycoprotien Promyc

© Mycorena
Cultivated, Cell-Cultured & Biotechnology

Mycorena Pauses Large-Scale Mycoprotein Facility: “Investors are Hesitant to Back Projects with Heavy Capital Requirements”

Pioneering mycelium-based solutions company Mycorena announces it is discontinuing its large-scale factory project in Sweden for Promyc, its flagship mycoprotein ingredient. Planned in 2022 and designed with Tetra Pak, the large-scale production factory aimed to supply the then “booming” plant-based market with volumes of mycoprotein: 5,000 tons by the end of 2023, with a total production volume of up to 100,000 tons in multiple stages. Despite significant growth and raising over €35 million in funding, including a €24 million Series A round, Mycorena says it has faced changing market conditions such as reduced investor interest in capital-intensive projects within the food tech industry and a slowdown in the plant-based meat market. The company says it attempted to raise Series B funding with SEB and Pareto …

more

Organisations and brands:

Irish consumers go plant-based

© Oatly
Stock market

Oatly Stock Rises Following Promising Q1 Financial Results

Leading oat milk producer Oatly has published its financial results for the first quarter of 2024, revealing an “encouraging start to the year”. The results have boosted Oatly stock, which is up 3.42% and has risen above the 200-day line. Compared to the same period last year, Oatly’s Q1 revenue rose by 1.8% to $199.2 million, while constant currency revenue increased by 1.2% due to growth in the North America and Europe & International segments. Gross margin reached 27.1%, up 9.7 percentage points. First quarter net loss was $45.8 million, an improvement of $29.8 million compared to Q1 2023; meanwhile, adjusted EBITDA loss was $13.2 million, a $36.7 million improvement. These results indicate that Oatly is moving towards break-even. For the remainder of 2024, Oatly …

more

Organisations and brands:

load more