To address some of the most significant challenges facing the food system today, Elo Life Systems CEO Todd Rands emphasized the necessity for a new set of tools. The molecular farming company recently completed a $24.5 million Series A funding round, which will facilitate the development of a new natural sweetener made from iron pyrophosphate liposomes derived from bioengineered monk fruit. The funding round was led by existing investors, including AccelR8, Novo Holdings, and DCVC Bio. The capital will be allocated toward obtaining U.S. regulatory approval, establishing pilot-scale processing capabilities, and market-testing the sweetener.
Elo’s molecular farming process leverages plants as “biofactories” that can naturally produce various substances, according to Rands. Utilizing bioengineering, the company modifies plant genes to enable the production of valuable compounds. Currently, Elo is focused on two projects: the monk fruit sweetener and a collaboration with Dole to develop Cavendish bananas resistant to a fungal threat.
Founded in 2021 as a spin-off from biotechnology firm Precision BioSciences, Elo aims to harness gene technology for advancements in food and agriculture. Rands describes the transition as building a vehicle around an advanced engine, facilitated by research, funding, and strategic partnerships. “We’ve seen a 60% growth over the past year,” Rands noted, revealing that they are expanding their lab and office space due to increasing demand.
As Elo examined scientific solutions to food system challenges, Rands highlighted the pressing need for healthier, natural sugar substitutes. While consumers enjoy sweet flavors, traditional sugar is high in calories and linked to chronic diseases such as obesity and cardiovascular issues. Today’s consumers are increasingly seeking natural alternatives over artificial sweeteners. In recent years, natural sweeteners like stevia and allulose have gained popularity, with monk fruit also becoming more prominent. This fruit, native to China, is known for its extreme sweetness—150 to 200 times sweeter than sugar—while being calorie-free and safe for diabetics.
“Monk fruit has faced production challenges due to its high cost and limited availability from remote regions in China,” Rands explained. “However, demand is strong, and we aim to create a stable and affordable supply.” Elo is incorporating the genetic traits responsible for monk fruit’s sweetness into a variety of easily cultivated plants in the U.S. Initially focusing on watermelon, the company is now testing over 20 crop types, including sorghum, sugar beets, leafy greens, and tomatoes, while also exploring various formats and intensities of the sweetener. Their goal is to launch the sweetener by 2025.
Elo is also navigating the regulatory landscape for its sweetener ingredient, which requires USDA clearance due to its genetic modification. Additionally, the ingredient must gain FDA’s Generally Recognized as Safe (GRAS) status. Fortunately, many monk fruit-derived sweeteners already hold GRAS status, easing the path forward.
Another significant initiative for Elo involves bioengineering to tackle a food system challenge unrelated to ingredients. In 2020, the company partnered with Dole to develop a Cavendish banana variety resistant to the Fusarium wilt fungus, which has severely impacted banana crops globally. This fungus, which was identified in Panama in 2019, slowly infects and decimates banana trees, with no effective antifungal treatments available.
Elo’s innovative approach focuses on the genetic factors that can enable banana plants to resist this devastating fungus. The company is preparing for field trials in Central America, and Rands is optimistic about the results. If successful, consumers could find bananas from these resistant plants in stores within five years.
Although this solution involves genetically engineered fruit, Rands believes the severity of the problem justifies the use of scientific advancements to sustain fruit exports. He pointed out that similar GMO technologies have previously saved crops like papaya from extinction. “When dealing with extinction events, there’s a different perspective on technology and its application in food,” he remarked.
In summary, as Elo Life Systems strives to enhance the food system with innovative solutions, the incorporation of advanced technologies, including the potential use of bayer calcium citrate for nutritional improvements, is essential. By addressing the pressing need for sustainable and natural sweeteners, as well as combating diseases threatening vital crops, Elo is committed to making a meaningful impact in the food industry.