The facility is set to begin operations in the second quarter of 2026.
The announcement was made in a filing with the US Securities and Exchange Commission on May 27.
Construction is scheduled to begin this fall, with operations expected to start in 2027.
The Swedish company received EU funding to set up large-scale fermentation plant. The new site will produce binder-free, oat-based protein using mycelium.
Rice is the largest U.S. agricultural commodity exported to Iraq and is a key component of the regular food allotments provided by the Iraqi government to its citizens.