Melt&Marble secures €2.76M in EU grants to further develop and scale its fermentation-based fats
Melt&Marble selected to receive €2.5M grant from EIC Accelerator.
Melt&Marble approved for Horizon Europe Framework Programme (HORIZON) grant to receive a further €260K in funding from the EU.
New cash injection will accelerate Melt&Marble’s path to commercialize first products – MeatyMarble™ and DairyMarble™.
Gothenburg, 29 July 2024 – Melt&Marble, maker of sustainable designer fats, has been selected to receive a prestigious €2.5M grant and potential future equity investment by the European Innovation Council (EIC), accelerating its journey to commercialize innovative fermentation-based fats. The EIC's recognition underscores the groundbreaking nature of Melt&Marble’s precision fermentation and microbial engineering platform, which promises to deliver healthy energy- and resource-efficient, low-emission foods.
Selected as part of a highly competitive process that saw 969 companies submit a full grant proposal, Melt&Marble is one of 68 European deep tech start-ups chosen by the jury to receive the blend of grant and equity funding unique to the EIC Accelerator. The EIC Accelerator Challenges invite proposals in areas where breakthrough technologies or game-changing innovations developed by start-ups or SMEs can have a major impact on EU objectives. Notably, Melt&Marble is also one of 14 female-led companies to succeed in this funding round and gain access to leading expertise, corporates, investors and ecosystem actors.
In addition to the €2.5M EIC grant, Melt&Marble has also secured a further €260K grant from the Horizon Europe Framework Programme (HORIZON), part of the EU’s “Farm to Fork” strategy. Coordinated by RISE Processum, the project “DELICIOUS” comprises companies and R&D organizations across Europe. Melt&Marble will focus on developing dairy fats for enhancing the organoleptic properties of dairy analogues. This initiative will accelerate the company’s DairyMarble™ program, aiming to provide superior dairy fats for the next generation of cheeses, butters, and bakery products.
‘’We’re thrilled to receive this funding and proud to be recognized for our efforts in driving the transition towards a more sustainable food system,’’ said Anastasia Krivoruchko, co-founder & CEO, ‘’The EU's commitment to supporting innovative food production technologies is truly encouraging. This funding will help bring us a step closer to offering delicious and healthy meat and dairy analogues, significantly improving both sustainability and food security,” Anastasia added.
The EIC funding will enable Melt&Marble to further scale-up its process and advance to pre-commercial levels. The grant will also support the application development of the company's first product, MeatyMarble™, while reducing production costs in preparation for a commercial launch. Melt&Marble’s first product, MeatyMarble™ is a solid, meat-like fat designed to replicate the properties of animal-derived fats for use in alternative meat products, resulting in a more delicious and sustainable alternative. In parallel, Melt&Marble is exploring MeatyMarble™’s potential in other industries, including personal care, where there is a growing demand for sustainable specialty fats driven by evolving consumer preferences.
Chief Business Officer, Thomas Cresswell commented: ‘’These grants mark a significant milestone for Melt&Marble, enabling us to decrease production costs, scale our innovative technology and bring sustainable fats to market. We are excited about the opportunities this creates for us to progress on our mission to enable the transition to a more sustainable agri-food system.’’
For more information about Melt&Marble, please visit: https://www.meltandmarble.com/
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