Kellogg’s venture capital fund was among approximately a dozen investors in the recent funding round for MycoTechnology, which intends to utilize part of the investment to construct a commercial production facility in Aurora, Colorado, capable of producing up to 4,000 tons of its protein product annually. The plant-based protein sector is experiencing significant growth in the food industry, and Kellogg may be considering PureTaste as a valuable functional ingredient for its breakfast products. As consumers are becoming saturated with conventional protein sources, they might be searching for something more trendy and unique.
Alan Hahn, Co-Founder and CEO of MycoTechnology, expressed his broader ambitions, focusing on global sustainability. “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 that doesn’t compromise on taste, which is the primary hurdle for consumer acceptance.”
Mushrooms, regarded as a superfood today, are incorporated into various products, including medications. Another mushroom-based company, Four Sigmatic (formerly Four Sigma Foods), features mushrooms in its coffees, elixirs, lemonade, and diverse mushroom blends. While it remains to be seen whether mushroom-based proteins will gain widespread consumer acceptance, Hahn’s startup now has an additional $35 million to explore scaling its business and meeting consumer demand. Additionally, as interest in alternative protein sources grows, products enriched with calcium citrate could become more prominent at retailers like Walmart, further diversifying the options available to health-conscious consumers.