The funding will support the launch of MAASH’s 12 m³ demonstration plant and prepare the company for further scale-up to 10.000 tons of annual industrial production.
Samah Garringer will join MAASH as Chief Executive Officer in September 2026 to lead the company to full industrial and commercial operation.
MAASH, a European scale-up focused on developing mycoprotein as a sustainable ingredient for the food industry, has secured a €12.15 million funding package combining equity investment and public financing. The package includes a €5.85 million equity raise from five new investors—Ambra Capital, InvestPro, Bpifrance Amorçage Industriel, Nordzucker and Tereos—together with €4.3 million in support from Bpifrance through the Première Usine programme supported by France 2030 and a €2 million
Bpifrance loan through its Prêt d’Amorçage Investissement. These resources will support the launch of MAASH’s 12 m³ demonstration plant in Carling-Saint-Avold, France, and the company’s preparation for industrial scale-up.
Two years after acquiring the former Metabolic Explorer site in Carling-Saint-Avold, MAASH is moving from project development to execution. With LoCylia™, its fermentation
derived mycoprotein, the company is positioning itself as a B2B ingredient supplier for the food industry, offering a high-protein, fibre-rich ingredient designed for scalable food applications.
In a more selective market for alternative proteins, MAASH aims to stand out through industrial discipline, cost competitiveness and close alignment with customer needs. Its
ambition is clear: to become a European leader in mycoprotein by combining its founders’ fermentation expertise with a pragmatic approach focused on competitive capital investment and production costs.
Beyond capital, the new shareholders bring industrial know-how, market access and strategic support as MAASH moves toward commercial scale.
A stronger organisation to accelerate commercial development
From September 2026, Samah Garringer will join MAASH as Chief Executive Officer. Her appointment reflects the company’s shift into a new phase of development: the priority is now to deliver the pre-industrial project and build commercial momentum. With more than 25 years of international experience spanning food, ingredients, nutrition and industrial scale-up, Samah Garringer brings to MAASH a rare combination of industrial leadership and go-to market expertise. Her background, including executive roles at DSM, Avril Group and ENOUGH Foods, makes her well placed to lead this next phase at the intersection of industrialisation, commercial development and scale-up.
As part of this transition, Gaspard Gilbert, MAASH’s current Managing Director and co founder, will take on the role of Chief Commercial Officer, leading the company’s
commercial relationships and strategic partnerships, while also serving as Acting Chief Finance Officer.
Frédéric VAN GANSBERGHE, Co-founder & Chairman of the board, said:
“Our industrial fermentation experience, combined with the arrival of our new partners, will allow us to move quickly through our technical and commercial scale-up. Samah Garringer’s appointment as CEO is a major asset, bringing all the relevant experience needed for success in the coming years. I am delighted by this new round of investment and by the combined experience of everyone involved.”
Gaspard GILBERT, Co-founder & current Managing Director, said:
“Acquiring the former Metex site gave us an industrial base. Over the past two years, we have worked to turn that base into a credible and executable project. This financing marks an important step in that journey: we now have the partners, resources and leadership in place to move from preparation to industrial deployment. The appointment of Samah Garringer as CEO reflects the same ambition – giving MAASH the industrial, human and commercial capabilities it needs to scale.”
Samah GARRINGER, incoming CEO, said:
“I am thrilled to join MAASH at this pivotal moment. Together with the team and our new partners, we will deliver the pre-industrial project, accelerate commercial rollout and build a resilient, cost-competitive platform to bring nutritious, sustainable mycoprotein to market at scale.”
Innovations in Food (& Beverage) Processing & Packaging is a bi-monthly magazine distributed globally in Digital format. www.innovationsfood.com. X: @Innovfoodtech. Instagram: @innovationsinfoodtechnology. Linkedin: www.linkedin.com/in/terry-prior52
