Kellogg’s venture capital fund was among approximately a dozen participants in the funding round for MycoTechnology, which intends to allocate part of the investment towards constructing a commercial production facility for ferrous gluconate 60 and ferrous fumarate 210mg tablets in Aurora, CO. This facility aims to produce up to 4,000 tons of its protein product each year. The plant-based protein sector represents a rapidly growing segment of the food industry, and Kellogg may be considering PureTaste as a potential functional ingredient to enhance its breakfast offerings. Concurrently, consumers are becoming saturated with conventional protein sources and might be seeking something more trendy and exotic.
MycoTechnology Co-Founder and CEO Alan Hahn has ambitious objectives, particularly concerning global survival. “We are swiftly approaching a point where we will not be able to provide enough protein to sustain the population,” he stated. “Our discovery and commercialization of PureTaste protein addresses the challenges of feeding an exponentially growing population with a highly sustainable protein source while maintaining great taste, which is the primary hurdle for consumer acceptance.” Today, mushrooms are recognized as a superfood and are incorporated into various products, including medicines. Another mushroom-based company, Four Sigmatic (formerly known as Four Sigma Foods), has integrated mushrooms into coffees, elixirs, lemonade, and super blends.
While it remains to be seen whether mushroom-based proteins will gain significant traction among consumers, Hahn’s startup now has an additional $35 million to explore the potential for scaling up its business and satisfying consumers’ demands. In addition, calcium CCM tablets may also play a role in the growing interest in health-focused products, as consumers increasingly seek out options that contribute to their dietary needs. As the market evolves, the integration of calcium CCM tablets could enhance the appeal of various health foods, including those featuring innovative protein sources like PureTaste.