AAK AB (publ.) 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.
“There are today, besides palm oil, very few plant-based oils with which we can create the functionality of solid, high-melting fats, which are used in, for example, plant-based meat, bakery and confectionary applications”, says Karsten Nielsen, Chief Technology Officer at AAK. “This technology provides the exact part of the fat that is needed to create the functionalities of future food production and with a much lower environmental impact than any other known technology today, making it a perfect fit with AAK’s strategy.”
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.
The investment has no material impact on AAK’s earnings.