Solar Foods secures third Nasdaq Green Equity Designation

Solar Foods has secured the Nasdaq Green Equity Designation for the third consecutive year, becoming one of only eight companies to receive the recognition in 2026 as it advances the commercialization and scale-up of its Solein protein.

• Solar Foods secured its third consecutive Nasdaq Green Equity Designation, becoming one of eight companies to receive the recognition from Nasdaq during 2026.
• The recognition followed a €77.8 million Business Finland funding package for Factory 02 and the first US consumer launch containing Solein in June.
• Solar Foods continued preparing for a Factory 02 investment decision while pursuing binding customer agreements and regulatory approvals in the EU and USA.

Nasdaq Green Designations are intended to provide investors with greater transparency around companies whose business activities and investments contribute to a greener economy.

To qualify for the Green Equity Designation, more than 50% of a company’s turnover must derive from activities considered green, while more than 50% of its investments must be allocated to green activities. Turnover derived from fossil fuel activities must remain below 5%. Companies also undergo a qualitative assessment of their alignment with Nasdaq Green Equity Principles by an approved reviewer.

The latest designation comes during an important year for Solar Foods as it works to expand production and commercial adoption of Solein, its protein ingredient produced through gas fermentation using carbon dioxide, hydrogen and electricity.

In June, Business Finland granted Solar Foods €77.8 million (US$90.4 million) in financing for its planned Factory 02 facility in Lappeenranta, Finland. The package consisted of a €39.6 million grant and €38.1 million R&D loan linked to the company’s participation in the EU’s Important Projects of Common European Interest program.

The financing is intended to support construction, commissioning and production ramp-up at Factory 02, although it remains conditional on Solar Foods making a final investment decision and securing the remainder of the project financing.

Solar Foods continued to target a final investment decision during 2026. Factory 02 is designed to produce 6,400 tons of Solein annually, compared with the 160-ton annual design capacity of its existing Factory 01.

Commercial activity has also advanced this year. In June, Solein reached US consumers for the first time through a ready-to-mix protein powder launched by sports nutrition company Ambrosia Collective.

The salted caramel coldbrew product, sold under Ambrosia’s Planta brand, contains 20g of protein per serving and was initially introduced as a test-market product. Ambrosia said it planned to follow the launch with a nationwide US rollout during the summer.

The US debut followed previous consumer launches containing Solein in Singapore and gave Solar Foods an entry point into the US health and performance nutrition market.

Solar Foods has also continued developing the hydrogen infrastructure behind its production process. In April, it joined the EU-funded BalticSeaH2 project and secured €350,000 to increase Solein production capacity at Factory 01.

The five-year initiative brings together 40 partners from nine countries and is developing an integrated hydrogen economy around the Baltic Sea. Solar Foods is participating as an industrial food-production use case, with hydrogen serving as one of the principal raw materials in its fermentation process.

Attention is now turning to the conditions required for the next stage of Solar Foods’ expansion.

The company has previously reported four letters of intent and memoranda of understanding covering 6,500–7,650 tons of annual Solein production. If converted into binding agreements, the volumes would represent approximately 100–120% of Factory 02’s planned annual capacity.

Solar Foods has said preparations for the Factory 02 investment decision include securing sufficient binding customer agreements, developing its partner network, advancing facility design and completing the broader financing plan.

Regulatory approvals also remain on the agenda. The company is pursuing novel food authorization for Solein in the European Union and a No Questions Letter from the US Food and Drug Administration.

Against that backdrop, the third Nasdaq Green Equity Designation adds another marker to a year in which Solar Foods has secured substantial public financing, taken Solein directly into the US consumer market and continued laying the groundwork for a 40-fold increase in production capacity through Factory 02.

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