📢 𝗕𝗥𝗘𝗔𝗞𝗜𝗡𝗚 𝗡𝗘𝗪𝗦 📢
We are thrilled to announce that NoPalm Ingredients has secured a €5 million Seed funding round! 🎉
This milestone will accelerate our mission to provide a sustainable, local, and circular solution to supply the growing demand for palm oil.
This funding round was led by Rubio Impact Ventures, with participation from Fairtree Elevant Ventures, Oost NL, Willow Capital Investments, and Netherlands Enterprise Agency (RVO). This support is a testament to our innovative approach and the critical need for sustainable alternatives in the industry.
🌎 “Palm oil is cheap, versatile, and used in about 60% of fast-moving consumer good. However, with demand rising 4% annually and 22 million extra tons needed by 2030 there is no strategy to supply this additional demand sustainably. NoPalm Ingredients has developed THE pioneering palm oil alternative that is both a true drop-in replacement and cost-competitive to conventional palm.”, says our co-founder & CEO Lars Langhout.
🚀 “This funding will help us scale to 50m³ this year, positioning NoPalm Ingredients as a trusted partner in the food and personal care industries and preparing for the final investment decision on our demo factory.”, adds our co-founder and COO Prof Dr Jeroen Hugenholtz.
🙏A big thank you to everyone who has been involved in our thrilling journey. A special thank you to our investors for believing in our vision and to our incredible team for their dedication.
Together, we are creating a greener future, one drop of sustainable oil at a time.
➡️Find more information here: https://lnkd.in/eXk3hXKF 🌍💚
#Sustainability #Innovation #GreenTech #SeedFunding #PalmOilAlternative #NoPalmIngredients #FutureOfFood
Retired
4moLoved selling Ridder products thru HLS in Carpinteria. Did not sell a lot units, but I felt they were the best option when selling new rack and pinions to greenhouse customers. Rock on Ridder