EIB grants €20m for vegan meat producer

The European Investment Bank (EIB) has signed a €20 million loan agreement with Danish food innovator MATR Foods to support the expansion of vegan meat alternative production.

Backed by the European Commission’s InvestEU initiative, the EIB funding will enable MATR to build a groundbreaking facility for producing a new generation of clean label, fungi-based meat alternatives and drive further research and development.

EIB Vice President Ioannis Tsakiris emphasised the environmental and health benefits of plant-based alternatives, noting that MATR’s innovative approach combines key priorities of agriculture and green innovation.

Using local crops like beetroots and peas, MATR applies solid-state fermentation to produce natural, fungi-based meat substitutes.

The new facility will have the capacity to produce over 3,000 tons of MATR’s product annually, significantly lowering carbon emissions.

MATR’s CEO, Randi Wahlsten, highlighted the growing demand for healthier and more sustainable meat alternatives. The company’s products have a carbon footprint 94 per cent lower than beef, aligning with the EU’s Green Deal and Farm to Fork strategy to create sustainable food systems.