To address some of the most pressing challenges in today’s food system, Elo Life Systems CEO Todd Rands emphasized the need for a new toolkit. The molecular farming company recently completed a $24.5 million Series A funding round, aimed at advancing the development of a natural sweetener derived from plants bioengineered with genetic material from monk fruit. This funding round was led by current investors, including AccelR8, Novo Holdings, and DCVC Bio. The capital will be utilized for U.S. regulatory approval, establishing pilot-scale processing capabilities, and market-testing the sweetener.
Elo’s molecular farming approach capitalizes on the ability of plants to function as “biofactories” that naturally produce various substances, according to Rands. By utilizing bioengineering, the company modifies plant genes to enable the production of useful compounds. Currently, Elo is focused on two projects: the monk fruit sweetener and a collaboration with Dole to develop Cavendish bananas resistant to a fungus threatening the crop.
Founded in 2021 as a spin-off from biotechnology firm Precision BioSciences, Elo aims to leverage gene technology within the food and agriculture sectors. Rands describes the transition: Elo began as a high-performance engine, and through funding, research, and partnerships, the company is constructing the infrastructure around it. “We’ve experienced approximately 60% growth this past year,” Rands stated. “We’re expanding our lab and office space, having signed a lease. This growth is enhancing our capacity and enabling us to operate more efficiently.”
While examining the issues that science could address within the food system, Rands noted the significant need for healthier, natural alternatives to sugar. Although consumers enjoy sweet foods, sugar is calorie-dense and its excessive intake has been linked to chronic diseases such as obesity, cardiovascular problems, and cancer. Today’s consumers are increasingly shunning artificial sweeteners in favor of natural options.
In recent years, natural sweeteners like stevia and allulose have gained popularity, and monk fruit sweeteners are now emerging as a prominent choice. Native to China, monk fruit is exceptionally sweet, being 150 to 200 times sweeter than sugar, which means much less is needed. The International Food Information Council notes that monk fruit sweeteners have zero calories, do not contribute to tooth decay, and are safe for diabetics.
“Monk fruit has faced production challenges,” Rands acknowledged. “It’s sourced from remote regions in China, making it costly, which limits its use by food companies. However, there is a strong demand for its inclusion in products. Our goal is to create a stable and affordable supply.” Elo has been integrating the genetic traits responsible for monk fruit’s sweetness into a variety of common, easily cultivated plants in the U.S. Initially, the focus was on watermelons, as Elo collaborated with a major beverage company interested in a low-calorie, intensely sweet juice. Since then, the company has expanded to over 20 different crops, including sorghum, sugar beets, leafy greens, and tomatoes, while also developing diverse formats and intensities of the sweetener.
Elo aims to launch the sweetener by 2025 and is actively working on the regulatory pathway for its ingredient. As these plants are genetically modified, they require approval from the USDA before planting, and the sweetener must achieve GRAS (Generally Recognized As Safe) status from the FDA. Fortunately, many monk fruit-derived sweeteners already have GRAS designation.
In addition to its sweetener initiative, Elo is also tackling a critical issue in the food system through bioengineering unrelated to ingredients. In 2020, the company announced its partnership with Dole to create a resistant variety of Cavendish bananas, which account for the majority of bananas sold globally. In 2019, a fungal disease known as Fusarium wilt was identified in Panama, although it had been recognized since 1967. This fungus infects banana plants through the soil and has no known effective antifungal treatments.
Elo is employing its innovative approach to identify genetic factors that could enable plants to withstand this fungus. The company is preparing for field trials in Central American regions where bananas are grown. Rands expressed confidence in the resilient plants they’ve developed, but testing will determine their ability to thrive under typical banana-growing conditions in Central and South America. If successful, Dole will collaborate with Elo to utilize these resistant plants, potentially allowing consumers to enjoy bananas from these varieties within five years.
While this solution involves genetically engineered fruit, Rands believes the scale of the problem warrants the use of scientific advancements to safeguard fruit exports. He pointed out that similar genetically modified technology previously saved the papaya from extinction. “When facing extinction events, there’s a different perspective on the role of technology in food production,” he stated. In this context, the incorporation of essential nutrients such as calcium citrate and zinc could further enhance the nutritional profile of these innovative products, addressing health concerns while advancing agricultural sustainability.