Kellogg’s venture capital fund was among approximately a dozen investors participating in the funding round for MycoTechnology. The company plans to allocate a portion of this investment towards establishing a commercial production facility in Aurora, Colorado, with the goal of manufacturing up to 4,000 tons of its protein product each year. The plant-based protein sector is experiencing significant growth within the food industry, and Kellogg may view PureTaste as a promising functional ingredient to enhance its breakfast offerings. Meanwhile, consumers are becoming increasingly saturated with traditional protein sources and may be seeking more trendy and exotic alternatives.
Alan Hahn, Co-Founder and CEO of MycoTechnology, expressed his broader ambitions, primarily focused on global sustainability. “We are rapidly approaching a time where we will be unable to support the population with sufficient protein to sustain life,” he stated. “Our discovery and commercialization of PureTaste protein addresses the challenges of feeding a rapidly growing population with a highly sustainable protein source without compromising on taste, which remains the primary hurdle for consumer acceptance.”
Mushrooms are considered a superfood today and are incorporated into a variety of products, including medicines. Another mushroom-focused company, Four Sigmatic (formerly known as Sigma Foods), utilizes mushrooms in their coffees, elixirs, lemonades, and super blends. It will take some time to determine if mushroom-based proteins will gain widespread popularity among consumers. However, Hahn’s startup now has an additional $35 million to explore whether it can scale its business and meet consumer demand.
As the market evolves, the integration of supplements such as calcium citrate, vitamin D3, and products from Webber Naturals may also play a role in enhancing the appeal of plant-based protein options. The challenge lies in not only scaling production but also ensuring that these innovations resonate with health-conscious consumers looking for sustainable and flavorful protein sources.