Solar Foods signed first MoUs for production at future industrial-scale facility

Translation: Original published in Finnish on 3/14/2025 at 7:29 am EET.

The press release is noteworthy in that it is the first public indication of industrial-scale interest in Solein. The Memoranda of Understanding are not yet binding, but if implemented would cover annual production of 6,000 tons of Solein, which is almost half of the full production capacity of the planned industrial-scale Factory 02. We estimate that partners will be critical to making the investment in Factory 02 possible, so the visibility of partner interest/commitment to the project is obviously positive.

Production at Factory 02 planned to start in 2028

Solar Foods announced yesterday that it has signed two Memoranda of Understanding (MoU) with two international customers for a commercialization plan. The MoUs are joint plans of the companies outlining the fundamental principles towards commercialization and binding agreements. Solar Foods says it has already been working together with these customers on research and product development. 

Phase 1 of Factory 02 is targeted to be operational in 2028. The planned factory investment is of a significant scale for Solar Foods, but we believe that customer commitment to the project, for example through partial ownership or advance orders, can help finance the project.