NoPalm Ingredients Completed a Funding Round Raising over $5M
Colin Smith — July 29, 2024 — Eco
References: nopalm-ingredients & greenqueen.hk
'NoPalm Ingredients,' a Dutch biotechnology company, recently secured €5 million in a seed funding round led by Rubio Impact Ventures, with participation from Fairtree Elevant Ventures, Oost NL, Willow Capital Investments, and The Netherlands Enterprise Agency (RVO). The company specializes in producing sustainable palm oil alternatives through a unique fermentation process that utilizes non-GMO proprietary yeasts and upcycled agri-food sidestreams, such as potato peels and whey permeate. This innovative approach aims to address the environmental and supply chain challenges associated with conventional palm oil, which is widely used in various consumer products.
The newly acquired funding will be used to accelerate the scale-up of NoPalm Ingredients’ production capabilities and to achieve their next milestone of producing 1.5 million kilograms of sustainable oil annually by 2025. The company plans to demonstrate large-scale production and solidify its role as a trusted partner in the food and personal care industries. Additionally, the funding will support the company’s mission to provide a local, circular, and sustainable solution for the global palm oil market, contributing to significant reductions in CO2 emissions and land use compared to traditional palm oil production.
Image Credit: NoPalm Ingredients
The newly acquired funding will be used to accelerate the scale-up of NoPalm Ingredients’ production capabilities and to achieve their next milestone of producing 1.5 million kilograms of sustainable oil annually by 2025. The company plans to demonstrate large-scale production and solidify its role as a trusted partner in the food and personal care industries. Additionally, the funding will support the company’s mission to provide a local, circular, and sustainable solution for the global palm oil market, contributing to significant reductions in CO2 emissions and land use compared to traditional palm oil production.
Image Credit: NoPalm Ingredients
Trend Themes
1. Sustainable Fermentation Processes - Utilizing non-GMO proprietary yeasts to upcycle agro-industrial waste into valuable ingredients.
2. Circular Economy Solutions - Transforming agricultural sidestreams like potato peels and whey permeate into market-ready products.
3. Environmental Impact Reduction - Developing alternatives to conventional palm oil that significantly reduce CO2 emissions and land use.
Industry Implications
1. Biotechnology - Pioneering fermentation techniques to create sustainable and efficient alternatives to traditional commodities.
2. Food and Beverage - Incorporating eco-friendly oil alternatives into food production to enhance sustainability.
3. Personal Care - Integrating renewable ingredients derived from innovative bio-processes into cosmetic and skincare products.
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