New figures by the Good Food Institute show that sustainable protein companies in Europe raised €579m in 2022, an increase of nearly 24% on 2021. Of that, the UK represented €68m - almost 12% of the total.
Venture capital deals amounted to €284m. Cultivated meat companies raised €120m and fermentation companies €175m - increases of 30% and 37% respectively.
Carlotte Lucas, senior corporate engagement manager at the Good Food Institute Europe, says, “It’s great to see such strong figures across Europe’s sustainable protein sectors. But we need to see this against a backdrop of global deceleration, demonstrating clearly that we can’t rely on private investment alone to build a more sustainable food system, and governments need to step up.
“Right now, sustainable proteins are where solar panels were in the 1990s. They exist, and they’re available for eco-conscious consumers who are willing to pay a premium – but they need investment to improve quality and bring down prices.
“With the EU preparing to invest heavily in cleantech and biomanufacturing, now is the perfect opportunity to fund the research needed to keep Europe competitive and create future-proof jobs.”
Read the full article here: GFI Europe