The Protein Brewery closes €18 million Series B Extension, led by ABN AMRO Sustainable Impact Fund, ahead of European commercial launch

Breda (the Netherlands), 29 June 2026 – The Protein Brewery, an innovator in biomass fermentation producing whole-food mycelium (mycoprotein), announces an extension of its Series B by €18 million led by incoming investor ABN AMRO Sustainable Impact Fund. The round was joined by existing investors Invest-NL, Novo Holdings, Madeli, and the Brabant Development Agency (BOM).

The Protein Brewery deliberately expanded this round beyond its initial target, backed by strong investor demand. This investment marks an acceleration in the company's growth: scaling production capacity, expanding commercially across Europe (following EU Novel Food authorisation), and deepening the science behind its flagship ingredient, Fermotein®. It brings total funding raised to date to more than €70 million.

Scaling for commercial growth

The funding will be deployed to:

Expand production capacity to more than 2,000 MT through capital investment and scaling operations at its Mijkenbroek facility
Drive sales into Europe after summer 2026, with a primary focus on active nutrition (ready-to-mix powders and bars) and functional foods and beverages
Advance clinical and scientific research into the longevity-promoting benefits of Fermotein®
Pursue regulatory approvals in new markets, including Canada, Australia, New Zealand, and India

“Building a completely new ingredient category takes patience and investment in the right activities, at the right time. With this additional funding, we move from proving that whole-food mycelium is a desirable ingredient to delivering it at the scale that brands and manufacturers need. Fermotein® meets the challenge of feeding a growing and ageing population with fewer environmental resources. ABN AMRO Sustainable Impact Fund is the right partner because they understand that high-quality nutrition and sustainability go hand-in-hand.”

— Thijs Bosch, CEO, The Protein Brewery

ABN AMRO Sustainable Impact Fund led the round, with the investment managed for the fund by Hanna Zwietering, Senior Investment Manager, and Ugur Yuksel, Investment Manager.

“The Protein Brewery has successfully translated strong scientific foundations into a robust industrial-scale production process and a growing commercial business, exactly the profile we look for in companies that can deliver measurable environmental impact at scale. We are pleased to support its next phase of growth.”

— Ugur Yuksel, Investment Manager, ABN AMRO Sustainable Impact Fund.

Novo Holdings, Invest-NL, and BOM all reinvested in the round, a signal of growing institutional confidence in The Protein Brewery's commercial trajectory. This builds on their support in the company’s 2025 Series B (see press release here).

Key milestones

Over the past twelve months, The Protein Brewery has:

Secured European Commission authorisation, becoming the first novel EU-grown mycelium ingredient cleared under the EU Novel Food Regulation
Sold out its 2026 capacity to customers in the United States
Built a strong pipeline in the EU and UK with initial customers in active nutrition
Established a full supply chain, from fermentation to finished product
Won the “Most Innovative Sustainable Solution” at the Vitafoods Startup Challenge
Built a body of scientific evidence demonstrating promising health properties of Fermotein®

About Fermotein®

Fermotein® is a whole-food mycelium ingredient that contains 50% protein (all essential amino acids), 30% fibre, and a comprehensive range of micronutrients and unique fungal bioactives. It integrates easily into ready-to-mix (RTM) powders, shakes, bars, baked goods, and dairy alternatives thanks to its neutral taste and odour.

Due to Fermotein®’s unique nutritional profile, it is positioned to serve the growing longevity nutrition segment, alongside gut health, metabolic health (GLP-1), and muscle maintenance.

The Protein Brewery’s patented, low-capital fermentation process makes Fermotein® cost-efficient to scale, addressing a hurdle that has long limited the affordability of alternative proteins.

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Media contact

The Protein Brewery B.V.
Qing Qing Miao

Marketing & CMI Manager

qingqingmiao@theproteinbrewery.com

About ABN AMRO Sustainable Impact Fund

ABN AMRO Sustainable Impact Fund is a €500 million investment fund backed by ABN AMRO Bank. It invests in companies with a proven track record of driving positive impact, with the goal of accelerating the transition to a sustainable, low-carbon economy while generating financial returns.

About Novo Holdings A/S

Novo Holdings is a holding and investment company that is responsible for managing the assets and the wealth of the Novo Nordisk Foundation. The purpose of Novo Holdings is to improve people’s health and the sustainability of society and the planet by generating attractive long-term returns on the assets of the Novo Nordisk Foundation. Wholly owned by the Novo Nordisk Foundation, Novo Holdings is the controlling shareholder of Novo Nordisk and Novonesis and manages an investment portfolio with a long-term return perspective. In addition to managing a broad portfolio of equities, bonds, real estate, infrastructure and private equity assets, Novo Holdings is a world-leading life sciences investor. Through its Seed, Venture, Growth, Planetary Health Investments and Principal Investments teams, Novo Holdings invests in life science companies at all stages of development. As of year-end 2025, Novo Holdings had total assets of EUR 93 billion.

About the Novo Nordisk Foundation

Established in Denmark in 1924, the Novo Nordisk Foundation is an enterprise foundation with philanthropic objectives. The vision of the Foundation is to improve people’s health and the sustainability of society and the planet. The Foundation’s mission is to progress research and innovation in the prevention and treatment of cardiometabolic and infectious diseases as well as to advance knowledge and solutions to support a green transformation of society.

About Invest-NL

Invest-NL is the National Promotional Institution of the Netherlands. They enable financing for businesses, projects and funds that contribute to societal transitions, innovation and economic resilience. They do this by removing financing bottlenecks, mobilising public and private capital and investing directly themselves, particularly in the growth phase where the market remains cautious. Learn more at www.invest-nl.nl

About BOM

Entrepreneurship is the driver of innovation – from sustainable food sources to a healthy future, climate-neutral energy, and developing promising key technologies. The Brabant Development Agency (BOM) ensures that startups playing a role in these fields receive the right support and funding to get off to a flying start and grow into scaleups, and that companies that aspire to go global can actually do so. BOM is an executive body of the Province of Brabant and the Ministry of Economic Affairs.

About The Protein Brewery

The Protein Brewery is a Dutch food ingredients innovator pioneering future-proof nutrition through biomass fermentation. Founded in 2020 and headquartered in Breda, the Netherlands, the company develops whole-food, fermented ingredients that are highly nutritious, sustainable, and scalable. Its flagship ingredient, Fermotein®, is a complete protein that contains all essential amino acids and is rich in fibre, micronutrients, and unique fungal bioactives. Further information: www.theproteinbrewery.com