Investors
Strategy
Vision
Cellular agriculture is the “quantum computer of food production.” The comparison describes the potential impact of cellular agriculture and the hydrogen fermentation technology used by Solar Foods. Cellular agriculture can achieve up to 100-fold production efficiency and reduction in the environmental footprint compared to the use of farmed animals in food production.
Our vision is not to improve current food production but to create something completely new that works from a new starting point.
Our goal is to maintain our position as a leading hydrogen fermentation company and to use this technology platform increasingly to bring new products to the market.
Current state of business and targets
Our business targets can be divided into three waves.
1. Demonstration phase in 2021-2028
The years of the demonstration phase are defined from the start of the planning of the Factory 01 plant to the start-up target of the Factory 02 plant. The main goal of this phase is to bring the first food products containing Solein produced by Solar Foods to the market and to generate net sales from selling of Factory 01 production.
We aim at the expected net sales of the demonstration phase coming from leading global and local food companies that buy Solein from Solar Foods and turn it into food products that are sold to consumers.
2. Full-scale phase in 2024-2028+
The years of the full-scale phase are defined from the start of the planning of the Factory 02 plant to its start-up. Later years from 2028 onwards and Factory 03+ are also included in this phase. At this stage, our goal is to build and launch full-scale factories around the world.
The goal is that there could be several dozen Solein factories in the world by 2035, some of which would be built and operated by Solar Foods, and the majority would be licensed.
3. Technology platform phase
Solar Foods’ innovative protein production has proven promising in potential space station production, as demonstrated by Solar Foods’ success in NASA’s Deep Space Food Challenge .
We believe that this success shows that NASA considers the solution to be a potentially suitable production method for space stations.
We estimate that our technology would not only provide a nutritious protein source in orbit, but we also expect it could lead to significant cost savings for space station companies. Our goal is to enter into several licensing agreements with LEO space station companies.
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