Mycorena declares bankruptcy

In Sweden, fungi fermentation and mycoprotein company Mycorena AB has filed for bankruptcy, citing “significant financial challenges” that have made it impossible to continue operating independently.

Mycorena specializes in fermentation, circular production, and product development within the mycoprotein segment, and recently pivoted from a B2B model to a more comprehensive B2B2C approach. But despite consistently “demonstrating resilience and innovation” in the past two years, recent attempts to secure new lead investors were unsuccessful.

“Our team has explored every possible avenue to save this pioneering company,” Mycorena Chairman Tore Sveälv said in a press statement. “It is with a heavy heart that we announce this decision, but ultimately, we believe in the potential of Mycorena’s technology and products and hope it could continue building value in the industry.”

Law firm Advokatfirman Lindahl KB has been appointed as trustee to administer the bankruptcy procedures. “The company holds a strong portfolio of valuable assets, including numerous patents, trademarks, and other tangible assets that are highly attractive to the industry in which Mycorena operates,” said lawyer Magnus Löfving. “This strong asset portfolio is indeed a testament to the company’s innovation and market relevance. We are confident that we will soon find a buyer who will acquire the business from the bankruptcy estate and continue its operations.”