MATR, a Copenhagen-based foodtech startup, has signed a €20 million loan agreement with the European Investment Bank (EIB) to expand its production of plant-based meat alternatives. Led by CEO Randi Wahlsten, the firm aims to increase the production capacity of its clean-label, fungi-based meat alternatives to over 3,000 tonnes per year.
MATR uses solid-state fermentation technology to turn local crops like beetroots, potatoes, and peas into fungi-based food products. These plant-based alternatives have a significantly lower carbon footprint, reducing CO2 emissions by 94% compared to beef. With this funding, the company plans to build a first-of-its-kind production facility and invest in research and development to enhance its product offerings.
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Aligning with EU Sustainability Goals
The company’s products, already available in Danish restaurants, canteens, and retailers, align with the EU’s goals for sustainability and climate action. By expanding production, the danish startup expects to reduce the carbon footprint of European meals by more than 100,000 tonnes of CO2 annually.
EIB Supports Green Transition
The EIB, the EU’s long-term lending institution, is backing MATR as part of its strategy to promote innovations that contribute to a sustainable, climate-neutral economy. EIB Vice-President Ioannis Tsakiris emphasized the dual impact of MATR’s work, combining environmental sustainability with advances in the food and agriculture sectors.
