16:01 - 17.09.2024

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September 17, Fineko/abc.az. Danish startup MasterFoods, specializing in meat surrogates, received $20 million in debt financing from the European Investment Bank (EIB).

ABC.AZ reports that the producer of mycelium "meat" has received a loan for construction of its first commercial plant, which promises to be a very large-scale enterprise. The Copenhagen-based company has been working on a pilot plant since its launch in 2021.

But recently, the startup announced its intention to move to a larger facility in 2026 to expand production. Debt financing from the EIB will allow the company to build a plant where it hopes to produce more than 3,000 tons of meat analogues per year (compared with 30-40 tons at the existing pilot plant).