AAK AB has decided to invest in Green-On, a food tech start-up company in Gothenburg, Sweden, whose concept is based on the so-called Power-to-X technology.
With this technology, the aim is to create raw materials, in this case oils and fats for food and other applications, directly from carbon dioxide, renewable energy, and water, thereby eliminating the need for arable land, one of the scarcest resources we have. The Power-to-X technology has the potential to accelerate the development of sustainable ingredient solutions for food and technical products.
As part of the investment, AAK will provide expertise in oils and fats as well as facilities to support and further develop Green-On and its work. The collaboration with Green-On was made possible through AAK’s partnership with Big Idea Ventures (BIV), initiated in March 2021.
As BIV’s Managing General Partner, Andrew D Ive said – “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.”
Green On is part of BIV’s New Protein Fund I portfolio and their collaboration with AAK will help them further their efforts in producing plant-based oils without relying on arable land.
Read more here: https://rfr.bz/l4i4ya1