About Pronofa ASA
Pronofa was established in January 2021, and was spun out of the cornerstone company Denofa which has produced food and feed ingredients in Fredrikstad since 1912.
The industrial expertise of Denofa was crucial for the establishment of the new company, combined with fundraising from the capital market.
Since then, Pronofa has added its own expertise and experience through the acquisition of several smaller companies and new hires.
Consequently, we have acquired more than 15 years of experience in low-trophic aquaculture (Ciona farming) and entomology (Black Soldier Fly farming).
Status 2024
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Pronofa ASA's main priority is to develop and produce consumer products made from Ciona.
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The first industrial production facility for Ciona was opened in Stenungsund, Sweden, in Q4 2023.
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The Purply case demonstrates a highly attractive unit economics, short payback period on investments, and a large potential market.
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The market for minced meat in total in the Nordic region is 500,000 tons. Purply can compete with traditional types of meat when it comes to taste, quality, nutrition, price – and sustainability.
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Purply will first launch in Norway and Sweden, but with a potential for further expansion.
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Pronofa is backed by Denofa, a company with more than 110 years industrial experience for foodstuffs and feed production.
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Pronofa can produce around 80 kg. Ciona meat per sq m sea surface, thanks to vertical cultivation and high throughput.
- Pronofa has adopted an Asset & CAPEX light approach for alternative proteins.
Pronofa is different from other start-up companies because we have the backing of Denofa and their industrial competence, in addition to strong investors. It has given us the opportunity to invest in the production of new, local, and sustainable raw materials on a large scale.
Divisions
FREDRIKSTAD (NO)
- Headquarters
- R&D division for alternative proteins
STENUNGSUND (SE)
- Production facility for Ciona (tunicates)
EIDE (NO)
- R&D division for Ciona (tunicates)
Business Areas
Pronofa ASA is the first in the world to utilize tunicates for large-scale food production. We use the local variety Ciona, which grows naturally along the coast of Norway and Sweden. Our products are sold under the brand name Purply.
Purply is a processed Ciona product with characteristics similar to traditional minced meat. It can be used in popular dishes such as tacos, lasagna, pizza, or meatballs.
With a climate footprint of just 0.2 kg. CO2e per kg. Purply is the world’s most climate-friendly meat.
In addition to producing food from Ciona, we are exploring the possibility of using the same raw material for feed production. We are also exploring alternative protein sources such as Black Soldier Fly for use in fish or animal feed.
Denofa AS, Godthåb Holding AS, Convexa Assymetric AS, Reitan Kapital AS and Silvercoin Industriescombined owns more than 75% of Pronofa ASA (2024).
The remaining shares are primarily divided between various investment companies, in addition to former owners of companies that have been acquired and incorporated by Pronofa.
Board Members
BJØRGE GRETLAND
Chairman
- Broad experience from venture capital, mergers & acquisitions and capital markets
- Food tech, sustainable tech investments, active ownership, global expansion, partnerships
- Holds a Master of Economics and a PhD in strategy and finance
HAAKON SÆTER
Board Member
- Broad experience from investments and capital markets for several years
- Sustainable tech investments, active ownership
- Education from Oslo Business School (HA)
HEGE BUER
Board Member
- CEO Jackon
- MSc Business & Management
- Extensive experience from top level financial position
HILDE C. TALSETH
Board Member
- Director Sustainability & Innovation, Norsk Kylling AS
- MBA Strategy & Management, Norwegian School of Economics (NHH)
- Extensive leadership experience and board memberships.
TERJE ANDERSEN
Board Member
- Board Member of Borregaard ASA, Head of Audit and Sustainability committee
- Previous CFO of Orkla and CEO of Orkla Investments
Board Member of Borregaard ASA, Head of Audit and Sustainability committee - MBA (“Siviløkonom”), Norwegian School of Economics (NHH)
HEGE RIVEDAL ØDEGAARD
Board Member
- Director Quality & Sustainability Denofa
- Biochemical laboratory Scientist
- MSc Food Scientist
HANS MARTIN KJERNSBÆK
Board Member
- CFO Denofa AS
- Msc. Business Administration
- Master of Professional Accountancy
- Extensive experience from audit, transactions and advisory in public interest companies
