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According to the Bank’s website, the project will finance the promoter's research and development (R&D) activities and production capacity expansion related to substitutes of dairy and egg products based on precision fermentation.
The operation finances FORMO's RDI programme and technology scale-up in the field of precision fermentation and microfermentation for cheese and egg alternatives. The project will be developed in the EU between 2025-2027 and aims at developing a technology that can progressively replace conventional dairy and egg products. An increasing share of consumers value animal welfare and production sustainability and are willing to incorporate these products into their diets.
In line with the EU policy objectives of the Farm-to-Fork strategy, the project addresses the market failure of sub-optimal delivery of natural-resource efficient products by competitive markets, while generating positive externalities with clear impacts on climate change mitigation and biodiversity.
The aim is to contribute to deploy more sustainable animal-free cheeses using protein exudates from fungi. The project supports the Bioeconomy sector and is in line with the Invest EU Main Priority Areas (MPPA) under the Research, Innovation, and Digitisation Window (RIDW).
The proposed financing is a quasi-equity investment.
Formo is a food biotech company on a mission to bring the next generation of sustainable, healthy, and equitable dairy products to consumers.
| Private Actor 1 | Private Actor 1 Role | Private Actor 1 Sector | Relation | Private Actor 2 | Private Actor 2 Role | Private Actor 2 Sector |
|---|---|---|---|---|---|---|
| - | - | - | - | Formo Bio GmbH | Client | - |
Contact: Richard Willis
Email: r.willis@eib.org
Phone: +352 4379 - 82155
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