Dutch biotech company NoPalm Ingredients recently secured €5 million in a seed funding round led by Rubio Impact Ventures with participation from Fairtree Elevant Ventures, Oost NL, Willow Capital Investments and the Netherlands Enterprise Agency (RVO). The company specializes in producing sustainable palm oil alternatives through a unique fermentation process that utilizes non-GMO, proprietary yeast and upcycled agri-food by-products such as potato skins and whey permeate. This innovative approach aims to address the environmental and supply chain challenges associated with conventional palm oil, which is widely used in a variety of consumer products.
The newly raised funds will be used to accelerate NoPalm Ingredients’ production capacity expansion and achieve its next milestone of producing 1.5 million kilograms of sustainable oil per year by 2025. The company plans to demonstrate large-scale production and strengthen its role as a trusted partner in the food and personal care industries. Additionally, the funds will support the company’s mission to provide local, circular and sustainable solutions to the global palm oil market, contributing to significantly reduced CO2 emissions and land use compared to conventional palm oil production.
