Aachen-based jam producer Zentis is investing a double-digit million sum in Elosun. The Munich-based Fraunhofer spin-off specializes in the production and distribution of high-quality sunflower proteins for the food industry.
The Aachen-based company Zentis is acquiring a minority stake in Elosun GmbH worth a low double-digit million euros. The Munich-based startup is a spin-off of the Fraunhofer Institute for Process Engineering and Packaging (IVV) in Freising. Elosun holds the exclusive worldwide rights to various patents held by the Fraunhofer Institute as a technology provider.
“Elosun is a strategic investment in an innovative, patented product”
Scientists at Fraunhofer IVV have developed a process for extracting high-quality food proteins from sunflower oil and seeds. Compared to existing vegan options made from soy and peas, the sunflower protein is said to taste better and be free of allergens and genetically modified organisms. Potential applications range from meat and dairy substitutes to vegan applications in fine baked goods and confectionery, sauces, dressings, and spreads, as well as protein bars.
"We are delighted to have gained Zentis, an innovative family business, as a strong partner. This will enable us to benefit from a broad network and many years of experience in the food industry,"
says Elosun CEO Thomas StuchlyThe plant proteins produced by his startup offer an environmentally friendly alternative to animal protein sources.
“Our investment in Elosun is a strategic investment in an innovative, patented product and a mature production concept as well as in a fast-growing, future-proof market,”
says Zentis Managing Director Norbert Weichele.
Market volume for plant proteins expected to grow rapidly
Karl-Heinz Johnen, also Managing Director at Zentis, is quoted as saying:
"Although the company is still young, it has an experienced management team and a technically skilled team of experts. Their concept fits very well with our new positioning as a 'Global Initiator of Natural and Delicious Foods'."
The Financial investment is part of a new corporate strategy of Zentis, which also includes increased diversification and venture capital activities.
According to Zentis, the market volume for plant-based proteins is currently around eight billion euros. As more and more people adopt vegetarian or vegan diets, demand is estimated to rise to around 12 billion euros by 2024.
