Prolupin announces Paul Denayer as new CEO

Press Release

Grimmen, 27.04.2021.

The European market leader in plant-based lupine protein food and beverages is pleased to announce the appointment of Paul Denayer to the position of CEO.


Paul brings with him more than 20 years of relevant experience as business leader in the Food Industry. Paul served most recently as CEO of Crop’s, market leader in Europe in frozen vegetables, fruits and meal solutions. Paul also served more than 10 years as Vice-President CFO at Alpro, the European market leader in plant-based food and beverages. Paul played a pivotal role in Alpro’s growth journey and has been instrumental in transitioning Alpro from a niche player to a branded mainstream category leader.

“Paul’s track record in leading teams and companies in the Food and Plant-Based industry in particular, positions him for success in leading our organization forward” explains Reiner Küster, Chairman of the Advisory Board of Prolupin. “His strong leadership skills and ability to sense and respond to market opportunities will help focus Prolupin in its pursuit of profitable international growth.”

“I am very excited to be joining the Prolupin team” says Paul. “The market for plant-based is booming, driven by strong consumer demand for healthy and sustainable choices, I strongly believe Prolupin with its expertise and branded position has enormous potential to address the plant-based market for further growth, expand internationally and grow its plant-based offering both in B2C and B2B.” Paul further adds “I look forward to work together with the Prolupin team and execute upon the significant market opportunities in plant-based”.

Christian Fankhänel, coming from Mars, recently joined Prolupin to become the new CFO. The company also strengthened its organization with the hiring of Wolfgang Strack to lead its B2B division. “We enter the global plant-based protein B2B market to grasp the significant upside potential on the back of the lupine protein core product” says Reiner Küster.

In the course of this, Malte Stampe (55), sole managing director since 2015, is leaving the company with immediate effect. “We thank Malte Stampe for a very successful 6 years together. He has been responsible with a lot of pioneering spirit for the development and implementation of a B2C brand portfolio using key technologies, which led to important product innovations and the launch of the unique dairy-free and vegan consumer brand MADE WITH LUVE in Europe. With proven proof-of-concept, i.e. establishing the startup as the #1 lupine protein consumer brand in Germany and Austria and #2 in plant-based yogurts overall, Malte Stampe was able to lead the startup through three successful rounds of financing, uniquely positioning it for growth investors” explains Reiner Küster. “The value of the company has multiplied during this time.”



About Prolupin
Prolupin GmbH was founded in 2010 as a spin-off of the Fraunhofer Institute for Process Engineering and Packaging in Freising, Bavaria. The company specialises in extracting the protein of the sweet lupin and making it usable for the production of food in the form of the unique lupin protein isolate (LPI). It is a patented process based on 25 years of research. In 2014, the scientists of the Fraunhofer IVV and the researchers of Prolupin GmbH were awarded the German Future Prize for the development of plant-based food ingredients from lupins and a contribution to balanced nutrition. The start-up develops its own products and markets them under the umbrella brand MADE WITH LUVE in German and Austrian food retailers and via selected online shops.

Prolupin extends its growth financing round

MVP portfolio company Prolupin, the innovative plant-based protein company based in Grimmen, Germany, today announced the extension of its groth financing round with the investment of the European Circular Bioeconomy Fund.


The European Circular Bioeconomy Fund (ECBF) is a new pan-European fund that invests in growth companies in the bioeconomy and circular bioeconomy with equity and mezzanine financings. The ECBF is backed by the European Investment Bank (EIB) as the cornerstone investor and by Hauck & Aufhäuser Fund Services S.A. administered in Luxembourg. Backed by the European Investment Bank (EIB) and managed by Hauck & Aufhäuser Fund Services S.A. in Luxembourg, ECBF is the first growth-fund fund exclusively dedicated to the bioeconomy in Europe that focus on catalyzes sustainable innovations.

Since the launch of its vegan brand Made with LUVE in 2015, Prolupin has enjoyed exceptional annual growth. The new financing now enables the company to address the mass market for further growth and international expansion.

In addition to the existing investors, Munich Venture Partners and eCAPITAL, the renowned investors Capricorn Partners and Novax have already participated in the financing round in spring.

The Capricorn Partners, Novax, and ECBF investment brings a broad mix of technology expertise and trade network resources to Prolupin as it seeks to grow its plant-based offerings from lupines both B2B and B2C, including the non-dairy yoghurts, milks, ice creams and cream cheeses on the European market under the vegan Made with LUVE brand.


“The ECBF funding will make an important contribution to accelerate the growth of Prolupin within B2B and B2C. The research & development, marketing and distribution we are now able to deploy over the coming years will put our unique Lupine Protein Isolate (LPI) as well as the vegan Made with LUVE brand center stage for customers and consumers aiming for a healthy, sustainable ingredient and lifestyle.”

Malte Stampe (CEO, Prolupin GmbH)

Reiner Kuester, Chairman of the Supervisory Board of Prolupin, stressed: “We are pleased to welcome the ECBF and the expertise it brings to the Advisory Board. With its international network and its focus on sustainability, the ECBF can significantly contribute to strengthening Prolupin’s position as a strong player in the fast-growing market of plant-based foods.

Michael Brandkamp, Managing Partners at ECBF, says: ” Prolupin is a fast-growing plant-based protein company with its successfully established dairy-alternatives brand made with LUVE. The growth in consumer demand for healthier food with a reduced environmental footprint will be long-lasting. With its lupine-based protein Prolupin is well positioned to capture a significant share in this market and to contribute to making our societies more sustainable.”

The investment bank Bryan, Garnier & Co was appointed as exclusive financial advisor for the transaction.