NEW TECH FOODS

Opalia, a Canadian start-up developing a technology to produce real milk using bovine mammary cells, has secured CAD 2 million (approx. $1.5 million) in funding.

The funding was led by the Hoogwegt Group and included participation from Ahimsa Foundation, Box One Ventures, Cycle Momentum, Kale United and the Québec government through its Impulsion PME programme, managed by Investissement Québec. Opalia also secured funding from Natural Products Canada as part of its Proof of Concept programme.

The capital will be used to accelerate the development of Opalia's first product.

According to the company, Opalia's sustainable milk production method positions it to capture a significant portion of the dairy market.

Opalia’s CEO, Jennifer Côté, said: "This funding marks a significant step for Opalia as it prepares to collaborate with commercial partners ahead of launching its inaugural product into the market. With Hoogwegt leading our round, we've not only gained essential customer validation but also tapped into their extensive network and global market expertise, setting the stage for Opalia's success."

Roland Wientjes, global technology director of Hoogwegt Group, commented: “As a premier buyer and supplier of dairy and plant-based ingredients, we recognise and support the market's increasing drive to lower carbon emissions, particularly in alignment with the commitments made under the Paris Agreement."

"We see rapid growing interest in our markets for environmentally friendly solutions whilst retaining the beneficial qualities of traditional dairy. We are already actively engaged in initiatives aimed at reducing emissions in the supply chain. With our investment in Opalia, we underline the imperative to explore sustainable alternatives. We are convinced that Opalia's cow-free milk represents a key component of the future sustainable dairy supply chain and eagerly anticipate the launch of Opalia's inaugural product.”

Pierre Fitzgibbon, Minister of economy, innovation and energy, Minister responsible for regional economic development and Minister responsible for the Metropolis and the Montréal Region, added: “Opalia has an innovative solution for reducing our carbon emissions. It’s the only company in Canada to use this method, which is directly in line with our goal of making Québec the first carbon-neutral state in the Americas by 2050."

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