Solar Foods lists on Nasdaq First North Growth Market Finland

Finnish protein production pioneer, Solar Foods, has made its debut on Nasdaq First North Growth Market Finland. Trading in the company's shares commenced on Tuesday 10 September under the ticker symbol 'SFOODS'.

The listing aims to facilitate Solar Foods' global expansion. The company plans to scale its production technology, establish new factories, introduce innovative products, and strategically acquire complementary technologies.

Solar Foods' business model revolves around producing new food raw materials using microbial strains. This requires significant investment in research and development, sales and marketing, and production capacity. The company's first product, Solein, is produced at Factory 01, which began operations in early 2024. Solar Foods also has the potential to license its hydrogen fermentation technology and production organisms to other companies.

"The listing enables us to take our business to the next level," commented Pasi Vainikka, CEO of Solar Foods. "We are planning our next production facility, Factory 02, which will have a capacity 50-100 times larger than Factory 01."

Solar Foods anticipates making investment decisions about Factory 02 in 2026.

In September, Solein obtained GRAS status in the USA, paving the way for potential sales by the end of the year. The company has also secured novel food regulatory approvals in Singapore, the European Union, and the UK.

Solar Foods is actively seeking strategic partnerships with food and biotechnology companies to develop Solein products and commercialize them in various markets.