Solar Foods receives EUR 77,8 million for the construction and commissioning of Factory 02

23-Jun-2026
Solar Foods

Solar Foods receives EUR 77,8 million grant and loan financing for the construction and commissioning of Factory 02

Business Finland has on 17 June 2026 granted funding for Solar Foods amounting to EUR 77,8 million. The funding is intended for the construction and commissioning of Factory 02 in Selkäharju, Lappeenranta, Finland.

The funding in the decision now received will be allocated to the implementation phase of the Factory 02 project, including construction and contract management, the delivery of key process equipment, installation, commissioning, and production ramp-up prior to the start of mass production.

"We are pleased with Business Finland's funding decision. Solar Foods has executed its financing plan, communicated in October last year, with determination, and this funding decision is a significant part of the total financing in line with the company's strategy", says Rami Jokela, CEO of Solar Foods.

“Supporting bold breakthroughs such as Solar Foods is part of Business Finland’s strategy. Our role is to raise the level of ambition in Finnish R&D by sharing risk with companies pursuing transformative innovations. We were able to structure a significant financing package by combining Business Finland funding with EU clean transition instruments. Projects like this carry risks, but they are exactly the kind of high-ambition, high-expertise investments Finland needs to create entirely new industries and future growth,” says Lassi Noponen, Director General of Business Finland.

Solar Foods aims to make the final investment decision for Factory 02 during 2026. The company continues to prepare the investment decision, with the work focusing, among other things, on securing sufficient binding customer agreements, building the company's partner network, advancing the design of the production facility, implementing the financing plan, the novel food approval in the EU and a No Questions Letter from the U.S. Food and Drug Administration (FDA).

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