These two companies are among the 71 that have received investments from the European innovation Council to advance in their sustainable food solutions
In a recent funding round, the European Innovation Council (EIC) has awarded substantial financial support to two Spanish foodtech startups: MOA Foodtech and Esencia Foods. These investments aim to propel the development of innovative, sustainable food products and processes, addressing the growing global demand for alternative protein sources. These two companies were among the 71 selected – out of more than 1,200 applicants – by the EIC acceleration program.
MOA Foodtech has received a €2.3 million direct grant. This funding will enable the company to scale its AI-driven fermentation platform, Albatros, which transforms agrifood byproducts into high-value, nutrient-rich ingredients. Along with the direct grant, MOA Foodtech has also secured a capital investment commitment worth €12.5 million, which will be provided in a second phase. By optimizing fermentation processes, MOA Foodtech reduces development time and production costs, contributing to a more sustainable food industry.
Esencia Foods, also selected for EIC funding with a €2 million grant. The company focuses on creating plant-based alternatives to fish and seafood products. Utilizing mushroom mycelium through solid-state fermentation, the company develops vegan, non-GMO products rich in protein, fiber, and omega-3 fatty acids. These offerings cater to consumers seeking sustainable and health-conscious food options without compromising on taste or nutritional value. The EIC's funding will enable Esencia Foods to further refine its product line and expand its market presence, contributing to the diversification of protein sources in the food industry.
The EIC's support of these pioneering companies underscores the European Union's commitment to fostering innovation in the food sector, promoting sustainability, and addressing the challenges of global food security.
.png.transform/rendition-xs/image_image%20(1).png "Feder")