A significant portion of the European Commission’s fund will be allocated to optimizing biomass fermentation, aimed at producing functional and sustainable ingredients. This market is projected to exceed €90 billion within the next decade, highlighting the relevance of current food and beverage industry trends.
MOA Foodtech, recognized for its innovative approach, was selected as one of 71 companies to receive funding from the European Innovation Council (EIC). This support comprises both grants and equity investments, reflecting the growing importance of food manufacturing trends.
MOA Foodtech Secures European Commission Funding
The initial phase of development will be supported by a direct grant of €2.5 million, followed by a second investment commitment of €12.5 million for continued advancement. This strategic funding underscores the significance of food processing technology in our evolving market.
Founders Susana Sánchez, José María Elorza, and Bosco Emparanza plan to utilize these funds to advance the company’s Non-GMO Directed Fermentation project. By harnessing artificial intelligence, MOA aims to convert by-products from the agri-food sector into high-value ingredients, aligning with food and drink industry innovation.
MOA focuses on finalizing its AI platform, developing a catalogue of proprietary ingredients that showcase the platform’s versatility, and scaling processes to meet industrial levels. Consequently, their ambition is to become the first industrial-scale producer of ingredients derived from directed fermentation in Europe, reflecting food and drink sustainability goals.
The innovative platform allows for the design of both processed and direct fermentation towards specific products, without utilizing genetically modified organisms, emphasizing adherence to food and drink regulations.
European Commission’s Support for Foodtech
“It’s a vote of confidence from the European Commission in MOA’s technology, which seeks to revolutionize ingredient production,” stated CEO Bosco Emparanza. “With this funding, we will boost investment in our AI platform and the development of new ingredients.”
The EIC emphasized that this funding round was the most competitive to date since the start of the acceleration program under the Horizon Europe framework. This year, approximately 1,211 applications were submitted, with only 431 being invited to present their projects to the council’s experts, illustrating the high stakes in food and drink marketing.
Ultimately, 71 projects were selected for funding, marking a significant advancement in food and drink consumer trends.
