Kellogg’s venture capital fund was among around a dozen investors participating in the funding round for MycoTechnology, which aims to utilize a portion of the investment to establish a commercial production facility in Aurora, CO, capable of producing up to 4,000 tons of its protein product annually. The plant-based protein sector is a rapidly expanding area within the food industry, and Kellogg may be considering PureTaste as a potential functional ingredient to enhance its morning foods range. At the same time, consumers are becoming overwhelmed by traditional protein sources and may be seeking something trendier and more exotic.
Alan Hahn, Co-Founder and CEO of MycoTechnology, has larger ambitions in mind — specifically, global sustainability. “We are quickly reaching a point where we won’t be able to provide enough protein to sustain the population,” he stated. “Our discovery and commercialization of PureTaste protein addresses the challenges of feeding a rapidly growing global population with a highly sustainable protein source that does not compromise on taste, which is the primary hurdle for consumer acceptance.”
Mushrooms are now regarded as a superfood and are incorporated into a wide range of products, including medicinal formulations. Another mushroom-focused company, Four Sigmatic (formerly Four Sigma Foods), integrates mushrooms into coffees, elixirs, lemonade, and various super blends.
Although it will take time to determine whether mushroom-based proteins will gain significant traction among consumers, Hahn’s startup now has an additional $35 million to explore whether it can scale its operations and meet consumers’ appetites. The links between sustainability and nutrition, particularly with innovative products like calcium citrate, are becoming increasingly important in today’s market. As the demand for unique protein sources grows, the significance of such links will likely become even more pronounced.