ENOUGH raises €40 million in growth funding

ENOUGH, a Dutch food technology company, has raised €40 million in growth funding. The company, founded in 2015, focuses on the production of ABUNDA® mycoprotein, a sustainable protein based on renewable resources. This protein is intended for alternative meat and dairy products sold in major chains such as M&S and Unilever.

ENOUGH's technology enables the company to produce sustainable proteins on a large scale. Their mycoprotein is produced by fermenting fungi with sugars from sustainable grain. The result, ABUNDA, is a high-quality protein source that is up to 15 times more efficient than beef protein. In addition, ENOUGH's production process uses up to 97% less raw materials and CO2 than beef.

New factory

ENOUGH recently opened a factory in Sas van Gent, Netherlands, next to a Cargill facility. The new plant will initially produce 10,000 tons of ABUNDA per year, with plans to expand to 60,000 tons.

The World Fund, Europe's largest climate investor, is one of ENOUGH's backers. ENOUGH's total capital raised now exceeds €95 million. With this, the company aims to increase its production capacity and meet the growing demand for sustainable proteins. By 2032, the company aims to produce more than one million tons of ABUNDA.

An opportunity to accelerate growth

Jim Laird, CEO of ENOUGH, sees the funding as an opportunity to accelerate their growth and reduce the impact of unsustainable protein production. Several partners, such as Plukon Food Group, are excited about working with ENOUGH and using their innovative protein in their products.

Duurzaam-beleggen.nl