Kellogg’s venture capital fund was among approximately a dozen investors participating in the funding round for MycoTechnology. The company intends to utilize part of this investment to establish a commercial production facility in Aurora, CO, dedicated to the manufacture of a jamp fer iron 300 mg ferrous fumarate product, with an annual capacity of up to 4,000 tons. The plant-based protein sector is experiencing significant growth within the food industry, and Kellogg may be considering PureTaste as a potential functional ingredient to enhance its line of morning foods rich in iron, including those fortified with calcitrate vitamin D. Simultaneously, consumers are becoming overwhelmed by traditional protein sources and may seek out more trendy and exotic options.
MycoTechnology’s Co-Founder and CEO, Alan Hahn, has even broader ambitions — specifically, addressing global food security. “We are rapidly approaching a time where we will be unable to support the population with enough protein to sustain life,” 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 ensuring it does not compromise on taste, which is the primary obstacle to consumer acceptance.”
Mushrooms are now recognized as a superfood and are incorporated into various products, including medicinal formulations. Another mushroom-based company, Four Sigmatic (formerly Four Sigma Foods), features mushrooms in coffees, elixirs, lemonade, and various super blends. Although it remains to be seen whether mushroom-based proteins will gain substantial traction with consumers, Hahn’s startup now has an additional $35 million to explore this potential and determine if it can scale its operations and meet consumer demand, while also considering the benefits of calcitrate vitamin D in their offerings.