Arkeon, an Austrian startup using fermentation to turn carbon dioxide into high-quality amino acids, has formally filed for insolvency.
Co-founder and CEO Gregor Tegl made the announcement on LinkedIn, but did not reveal why the startup had run into difficulties. He thanked Arkeon’s team members, advisors, investors, partners, and supporters for their dedication to the company.
Arkeon was founded to transform industrial emissions into proteins, with the aim of creating a circular economy and supporting sustainable manufacturing. The microbe used as part of the company’s regenerative bioprocess naturally produced all 20 proteinogenic amino acids, but had been engineered to selectively produce single amino acids tailored for industrial applications.
“Every failure teaches us something new”
Since its foundation, Arkeon had secured millions of euros in funding from investors such as Blue Horizon Ventures, ICL, and FoodHack. In 2023, the company set up a pilot production plant in Vienna, with a 150L bioreactor system that it claimed would lay the biotechnological foundation for future large-scale production.
At the time, Arkeon said it had also commissioned a 3000L bioreactor, scheduled for the end of 2024, with the aim of beginning commercial production.
“While this is a difficult moment, I am incredibly grateful for everyone who believed in our vision for sustainable protein production via gas fermentation,” said Tegl on LinkedIn. “Although Arkeon’s journey has come to an end, my belief in the potential of sustainable biotechnologies remains as strong as ever. Every failure teaches us something new, and the lessons we’ve learned about scaling our technology, engaging with stakeholders, and navigating regulatory landscapes will stay with me as I move forward.”
