Press Release July 19 2022
Green-On in new partnerships to create sustainable food for the future.
The Sweden-based foodtech company Green-On announces two new partners that invest in the company, AAK AB (publ.) and Norrsken Impact Accelerator.
AAK is a global actor within plant-based oils and the partnership means that Green-On now takes an important step towards industrial production.
”AAK is a great partner that now invests in the company – together we have the possibility to develop both the process and upcoming products for our ultra-sustainable oils and fat”, says Annette Graneli, CEO of Green-on.
”Together with AAK’s competence we will now take a big step towards commercialization and scaling”, says Anders Lorén, CTO of Green-On. ”It’s really strengthening that an industrial partner as AAK sees the large potential of our technology, both for production of ultra-sustainable food ingredients as well as the possibility to create new types of products.”
Karsten Nielsen, Chief Technology Officer at AAK says: “Besides palm oil, there are today very few plant-based oils with which we can create the functionality of solid, high-melting fats, which are used in, for example, plant-based meat”.
“This technology provides the exact part of the fat that is needed to create the functionalities of future food production and with a much lower environmental impact than any other known technology today, making it a perfect fit with AAK’s strategy.”
Norrsken Impact Accelerator is an early startup fund that supports solutions set out to solve some of the greatest global challenges such as climate change. ”We are happy that Norrsken supports us at this stage of the development. Norrsken will provide mentors and support for us to further build the company” says Annette Granéli.
Since 2021 Green-On has been supported by Big Idea Ventures that also brought AAK and Green-On together. “At Big Idea Ventures we help accelerate change by bringing together great companies and strategic corporate partners. Green-On and AAK is the perfect example of how corporates and startups can work together to create solutions delivering a sustainable food future,” says Andrew D. Ive, General Managing Partner at Big Idea Ventures.
Green-On is a foodtech company producing ultra-sustainable oils and fat that can be used to replace tropical fats such as palm- and coconut oil as well as animal fat. Green-On uses a technology that bypasses agriculture which leads to ultra-sustainable food ingredients where no arable land is used for production. The technology is based on a power-to-food concept that uses fossil-free electricity, carbon dioxide and water to produce the oils and fat.
For Further Information, Contact:
Annette Granéli, Co-Founder & CEO
Anders Lorén, Co-Founder & CTO