Kellogg’s venture capital fund participated in a recent funding round for MycoTechnology, which is set to utilize part of the investment to construct a commercial production facility in Aurora, CO. This facility aims to manufacture up to 4,000 tons of its protein product annually, focusing on plant-based protein—a rapidly growing segment within the food industry. Kellogg may regard PureTaste as a potential functional ingredient to enhance its breakfast offerings, especially as consumers increasingly seek trendy and exotic alternatives to conventional protein sources.
MycoTechnology Co-Founder and CEO Alan Hahn has ambitious aspirations, particularly concerning global food security. He stated, “We are rapidly approaching a time where we will be unable to support the population with enough protein to sustain life. Our discovery and commercialization of PureTaste protein addresses the challenges of feeding a rapidly growing population with a highly sustainable protein source that does not compromise on taste, which remains the primary hurdle for consumer acceptance.” Today, mushrooms are recognized as a superfood and are incorporated into various products, including medicines. Another company, Four Sigmatic (formerly Four Sigma Foods), utilizes mushrooms in their coffees, elixirs, lemonade, and 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 whether it can expand its operations and satisfy consumer demand. Furthermore, as people become more health-conscious, there is a growing interest in products that combine essential nutrients like vitamin D with calcium citrate, which can enhance bone health. This trend may also influence the acceptance of innovative protein sources like PureTaste, as consumers look for added health benefits in their diets.