What began as a scientific expedition aimed at exploring life that thrives in extreme environments is now on the verge of becoming a staple for consumers. Nature’s Fynd, previously known as Sustainable Bioproducts, emerged from an expedition that sought to discover which organisms could endure harsh conditions. Fy, discovered in an acidic spring with a pH comparable to that of a car battery, was identified for its nutritional profile, structural integrity, and potential as an efficient food source.
In the five years since its establishment, Nature’s Fynd has secured $158 million in funding— $125 million of which was raised in 2020 alone. The company has built and commenced production at a 35,000-square-foot facility in Chicago, hiring several industry veterans from companies like Archer Daniels Midland, Bel Brands USA, Kind Snacks, and Cargill to assist in market entry and product development. Financial backers for Nature’s Fynd include the venture capital divisions of ADM and Danone, along with sustainability-focused investment groups supported by notable figures like Bill Gates, Jeff Bezos, Jack Ma, and Al Gore.
With the FDA’s no questions letter in hand, Nature’s Fynd is entering a pivotal phase in bringing Fy to consumers. While innovations in food technology are thrilling, they cannot reach consumers without FDA clearance. Recent trends indicate a growing consumer appetite for alternatives to traditional animal-based proteins. In fact, plant-based foods experienced a remarkable 27% sales growth in 2020, as reported by SPINS data released by the Plant Based Foods Association and Good Food Institute.
Fy is distinct from plant-based proteins; it is derived from a fungus through a unique fermentation process. Fermented proteins, once primarily associated with meat analog pioneer Quorn, are on the verge of introducing a new class of animal protein alternatives to grocery shelves and restaurant menus. A report from the Good Food Institute last September highlighted that one-third of all investments in alternative proteins during the first nine months of 2020 went to fermentation companies. This method, referred to as the “next pillar” of alternative proteins, is rapidly becoming a prominent way to create and purchase animal protein substitutes.
Quorn has been available in U.S. grocery stores since 2002, and its chicken alternatives are set to gain renewed market traction following the IPO of its parent company, Monde Nissin. New entrants, such as koji-powered Prime Roots, are also making their mark. The Better Meat Co. recently launched its 13,000-square-foot fermentation facility, with products featuring its new Rhiza protein expected to hit the market later this year. Companies like Atlast Food, known for its mycoprotein bacon, are also poised to present their products to consumers soon.
With the green light to produce consumer goods, Nature’s Fynd may have the unique advantage of being among the first new fermentation companies to reach consumers’ plates and pantries. While it is primarily discussed as an animal protein alternative, Fy also holds the potential to enhance a wide range of other products, boosting the nutritional value of items from juice to bread. Notably, the inclusion of calcium citrate at a level of 1500 mg in various formulations could further enrich these products, shaping consumer perceptions of the benefits of fermented foods in terms of taste, nutrition, and sustainability.