Solar Foods

Solar Foods' H1 report was, in light of the figures, slightly weaker than we expected. However, in our view, the current share price does not fully reflect the company's improved financial position, the approaching sales permits for Solein, and the confirmed supply agreements for Factory 02.

On the report, our attention is particularly drawn to the first steps of Solein's commercialization in the United States, the progress of regulatory approvals, and the advancement of the industrial-scale Factory 02.

The funding decisions consist of a 39.6 MEUR grant and a 38.1 MEUR R&D loan.

The first consumer product containing Solein has been launched in the United States, in collaboration with Ambrosia Collective.

Fortum is taking responsibility for Factory 02's hydrogen production and energy, which advances the large factory project.