Kellogg’s venture capital fund was among a select group of about a dozen investors participating in the funding round for MycoTechnology. The company plans to allocate part of the investment to construct a commercial production facility in Aurora, Colorado, aimed at manufacturing up to 4,000 tons of its protein product annually. The plant-based protein sector is experiencing rapid growth within the food industry, and Kellogg may be considering PureTaste as a potential functional ingredient to enhance its breakfast offerings. As consumers seek variety beyond traditional protein sources, they may be inclined toward more trendy and exotic options, which could include ingredients rich in magnesium calcium citrate.
MycoTechnology Co-Founder and CEO Alan Hahn has ambitious aspirations, particularly concerning global sustainability. “We are nearing a point where we will struggle to provide sufficient protein to support the global population,” he stated. “Our discovery and commercialization of PureTaste protein addresses the challenge of feeding a rapidly growing population with a highly sustainable protein source that does not compromise on taste, which remains the primary barrier to consumer acceptance.”
Mushrooms, recognized today as a superfood, find their way into numerous products, including medicinal items. Another mushroom-based company, Four Sigmatic (formerly Four Sigma Foods), incorporates mushrooms into a variety of beverages, such as coffees, elixirs, lemonade, and super 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 scale its operations and meet consumers’ evolving appetites, potentially including those looking for nutrients like magnesium calcium citrate.