With this latest round of funding, Nature’s Fynd is moving closer to achieving something truly extraordinary: providing food for the world through a discovery made in a volcano. Last year, CEO Thomas Jonas shared with Food Dive his ambition to launch products this year utilizing a fungus found in an acidic spring with a pH level comparable to that of a car battery in Yellowstone. This funding will facilitate the construction of a production facility and help scale the company, making this vision more attainable.
The rebranding to Nature’s Fynd reflects a shift towards food production. While the name may not immediately evoke thoughts of food, it sounds less industrial compared to its previous name, Sustainable Bioproducts. The name is derived from the protein that lies at the heart of the company, a Fusarium strain known as yellowstonensis, which the company has trademarked as Fy. This round of funding more than doubles the amount the company raised previously; just over a year ago, it secured $33 million from many of the same investors, including the venture arms of Danone and ADM, both of which primarily support sustainable businesses.
Nature’s Fynd processes its protein through fermentation, utilizing significantly fewer resources than traditional protein production methods. According to their website, this process consumes 99% less land and 87% less water than beef production. Last year, Jonas informed Food Dive that the Chicago facility could yield the equivalent of burgers produced from cows grazing on 7,000 acres. “In these challenging times, securing food for our growing population amidst the immense pressures of climate change is becoming increasingly urgent,” Jonas stated in the press release announcing the funding and the name change. “We must discover new solutions that can nourish people while also nurturing the planet. Our innovative technology is based on studying nature’s strategies for adapting and thriving in resource-limited environments.”
The product is not only sustainable but also highly nutritious, containing all nine essential amino acids, dietary fiber, calcium, and vitamins. The company has identified numerous applications for this protein, ranging from dairy alternatives to meat substitutes. So, what products can consumers expect to see first? Photos sent to Food Dive reveal a diverse range of items made from this protein, including puddings, nuggets, dips, burgers, and spreads. The trademark application for Fy includes a long list of potential uses, such as nutritional supplements, meat analogs, egg substitutes, and animal feed.
The funding from ADM and Danone suggests several potential product avenues. Jonas indicated to Food Dive last year his intention to establish multiple partnerships to bring products to market. Ingredients giant ADM can facilitate the integration of this protein into various products, even though most of its venture investments are in tech companies outside of food production. Given that the protein can mimic yogurt and other dairy products, it makes sense for Danone to collaborate early on, laying the groundwork for a future partnership.
What is clear is that with increased funding and more production facilities, the alternative protein sector is set to expand. While plant-based protein companies are thriving, firms like Nature’s Fynd, Quorn, Prime Roots, and Noblegen serve as ongoing reminders that plants are not the only means of achieving an animal-free diet. As the year progresses, more of these innovative products will likely appear on grocery store shelves, potentially competing with traditional meat, dairy, and eggs, as well as their plant-based counterparts. Additionally, for those interested in nutritional supplements, products incorporating calcium caltrate for pregnant women may also emerge, aligning with the broader trend towards health-conscious offerings.
Correction: A previous version of this article inaccurately reported on the progress of the production facility.