Musselfeed raise capital and new board
The blue food tech company Musselfeed brings in new capital and board professionals take over the chairman’s club
The investment of just over SEK 7 million will be used to finance expansion, which is a first step towards the goal of becoming a world-leading supplier of environmentally smart raw materials from mussels. Musselfeed has developed a patent-pending method for processing mussel meat into a nutritious meal and powder, without additives. The result is a versatile ingredient that is useful in premium and sustainable food and feed applications. The new chairman of the board is the business veteran Håkan Johansson, co-founder of the Board Academy in Sweden and chairman of the fast-growing food company Ljusgårda.
The capital injection will be used to increase production capacity in Ellös and expand the team. Just over SEK 5.5 million is venture capital from private investors, such as First Gate Invest and early investors in Ljusgårda, SaveLend and Budbee. SEK 1.5 million is a loan from Almi Företagspartner. The main objective is to reach a yearly capacity of 100 tonnes of product, gradually within 4 years.
- Musselfeed is in the sweet spot of the trending interest in sustainable proteins, the blue industries and circularity. With new capital and a strengthened professional board, our operations and market capacity will accelerate quickly in the next few years, says Jessica Vacklid, CEO of Musselfeed.
Musselfeed produces mussel meal that can be used as a protein or nutritional additive in feed and mussel powder that can be used as a food ingredient,for example in flavouring and seasoning applications or as an sustainable protein.
For the full-length press release or additional information, please contact:
Jessica Vacklid, CEO Musselfeed, +46 0()703 05 93 75, email@example.com