Greencovery secures €1 million to scale cocoa upcycling technology in North Holland
Wageningen-based Greencovery has raised €1 million to expand its cocoa upcycling technology, targeting 1,000 tons of production capacity as it seeks to establish a circular cocoa value chain in North Holland.
Greencovery, a Wageningen-based FoodTech startup, has raised €1 million to accelerate the industrial scale-up of its cocoa upcycling technology, the company confirmed on September 14. The round, which saw participation from ROM InWest, Brightlands Venture Partners and a private investor, will support Greencovery’s ambition to establish a circular cocoa value chain in North Holland.
The latest funding follows an earlier €500,000 raised in 2022 for technology development. According to Carlos Cabrera, Founder and Managing Director, the company aims to reach a production capacity of 1,000 tons using its proprietary separation technology. Greencovery’s process targets food-grade side streams generated during cocoa processing—of which there are an estimated 350,000 tons annually in the region.
The company’s technology enables the recovery of functional ingredients from cocoa side streams, providing food manufacturers with alternatives as global cocoa prices remain volatile. Investors say the approach addresses both sustainability and market demand for clean-label and natural flavour ingredients. Bas Kalshoven, Investment Manager at ROM InWest, highlighted ROM’s role in connecting Greencovery to industrial partners and regional networks essential for scaling production.
The upcycling model is designed to help reduce waste and add value within the cocoa supply chain, positioning Greencovery as a resource for manufacturers seeking resilient ingredient sourcing. The North Holland region, with its significant food processing industry, stands to benefit from more circular practices and local ingredient streams.
However, the company’s expansion remains dependent on securing an additional €3 million currently sought in a further funding round. Market volatility and the pace of adoption by manufacturers could pose risks, though industry trends continue to favour sustainable and innovative food solutions.
If successful, the initiative could serve as a model for upcycling across other food industry side streams in Europe and beyond, as companies and policymakers strive to reduce waste and strengthen supply chain resilience.
