The word “toxicity” sounds a bit off to me, given that—at least on paper—solein is an excellent protein for human consumption (amino acids, cholesterol-free, contains none of the most common food allergens + much more). I will bypass the iron content topic here, as it has been discussed extensively before.
But regarding the novel food authorization risk, that is spot on! If authorizations are significantly delayed or if there are even rejections, the rug will be pulled out from under the entire company.
As for the EFSA authorization, my own expectation is optimistic. Solar Foods has stated that the company expects to receive said authorization during this year. In an Inderes interview conducted after the Capital Markets Day, CEO Jokela stated something to the effect that these expectations are justified because Solar Foods maintains contact with the EU, and the messaging from there supports these expectations. So, we are not relying purely on blind faith, and the CEO has put his own credibility on the line here.
If, on the other hand, the EFSA authorization is not obtained within this year according to the company’s and my own expectations, I would have to reconsider the future of my investment in Solar Foods.
It is completely understandable if an investor wants to follow this story from the sidelines (for now?).