Analyst Comment
Solar Foods: First Solein consumer product for sale in the United States
Summary
- Solar Foods has launched its first consumer product containing Solein protein in the United States, in collaboration with Ambrosia Collective, marking a significant step in its commercialization efforts.
- Ambrosia Collective, a US-based sports nutrition company, is introducing a Solein-based protein powder under its Planta brand, initially available on its website and Amazon, with plans for nationwide expansion.
- The US market is crucial for Solar Foods, and the launch serves as an important reference for Solein's suitability in the health and performance segment, aiding in brand awareness and risk reduction for future industrial-scale investments.
- The analyst notes that the launch aligns with expectations and does not alter forecasts, as Ambrosia Collective's significant order was anticipated since January.
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Translation: Original published in Finnish on 6/3/2026 at 9:09 am EEST.
Solar Foods announced on Tuesday that the first consumer product containing the company's Solein protein has been launched in the United States. The launch is a collaboration with sports nutrition company Ambrosia Collective. We view the news as a positive step in the commercialization of Solein, as it demonstrates the product's suitability for the mainstream supplement market and serves as an important reference in the US market. The expected product launch does not cause changes to our forecasts, as we already knew about Ambrosia Collective's significant order in January.
Ambrosia Collective is a quality-focused partner in sports nutrition
US-based Ambrosia Collective is bringing a ready-to-mix protein powder made from Solein under its Planta brand to test marketing, which will be sold on the company's own website and on Amazon. The goal is to expand sales nationwide during the summer.
Ambrosia Collective is a medium-sized US-based supplement company founded in 2018. The company has established itself as a developer of high-quality, performance-enhancing, and vegan-friendly sports nutrition products. The company emphasizes clinically studied ingredients, transparent dosages, and independent testing in its products. Ambrosia has an extensive distribution network, including GNC, The Vitamin Shoppe, Sprouts, Amazon, and Hy-Vee. For example, The Vitamin Shoppe has over 600 stores in the United States, although we do not know exactly how widely the chain distributes Ambrosia Collective's products.
An important reference on the path towards industrial scale
The United States is a critical market for Solar Foods, and the company is commercializing Solein there, initially focusing on the health and performance segment. The launch now seen is the first consumer product made from Solein in the United States. While Solar Foods' revenue currently relies heavily on the limited capacity of the Factory 01 demonstration plant, these initial commercial launches are important for the investment story on the path to industrial scale. They build Solein's brand awareness and prove the raw material's functionality and suitability as part of partners' product development. Successful launches partly lower the company's risk profile as it seeks to convert letters of intent into binding sales agreements and raise financing for the industrial-scale Factory 02 investment, which is at the core of its investment story.
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Solar Foods established in 2017 is a global leader in sustainable protein production, solving the global food production problem by offering a completely new alternative to existing animal and plant proteins. Solar Foods’ first product is the naturally occurring single-cell protein Solein®, which can be used as a food raw material with high protein content. In the long run, Solein production will improve global availability of protein and increase price and quality stability of food raw materials by disconnecting food production from agriculture.
Read more on company pageKey Estimate Figures27.02.
| 2025 | 26e | 27e | |
|---|---|---|---|
| Revenue | 0.1 | 1.9 | 4.3 |
| growth-% | 560.1 % | 1,455.6 % | 125.7 % |
| EBIT (adj.) | -10.4 | -12.7 | -19.9 |
| EBIT-% (adj.) | -8,414.9 % | -660.1 % | -459.7 % |
| EPS (adj.) | -0.47 | -0.46 | -0.70 |
| Dividend | 0.00 | 0.00 | 0.00 |
| Dividend % | |||
| P/E (adj.) | neg. | neg. | neg. |
| EV/EBITDA | neg. | neg. | neg. |
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