MycoTechnology, of Colorado USA, announces that its fermented mycelium ingredients FermentIQ™ MLL and PTP have been granted Novel Food status by the European Commission.
The company’s forthcoming European expansion will be underpinned by its recent $85M Series E fundraise which included Tyson Ventures and Maple Leaf Foods.
The authorisation follows a positive opinion issued earlier this year by the European Food Safety Authority (EFSA), whereby the EFSA considered FermentIQ™ pea and rice protein fermented by shiitake mushroom mycelia as safe for use across multiple applications.
EU as next major growth frontier
Having secured Novel Food authorisation, the American company says it is set to accelerate its expansion into the European market, which it describes as its next major growth frontier. MycoTechnology has already hired its first European sales representatives, having recently announced a partnership with IFF to co-develop alternative proteins for the European market, as well as a partnership with Brenntag for EU distribution.
Mycelial fermentation platform
FermentIQ™ ingredients are produced using a patented mycelial fermentation platform that, according to the company, improves the sensory, functional, and nutritional attributes of plant protein.
“We can now offer […] manufacturers access to our cutting-edge plant protein in Europe for the first time”
CEO Alan Hahn comments: “Authorisation means we can now offer food and beverage manufacturers access to our cutting-edge plant protein in Europe for the first time. FermentIQ™is a transformative, game-changing plant protein with multiple applications and nutritional advantages over other plant protein ingredients. It enables brands to overcome the technical and taste barriers associated with other plant proteins, providing consumers with a compelling reason to switch.”
Harnessing the power of mushroom mycelia
FermentIQ™ — a pea and rice protein blend fermented by mushroom mycelia — is available in three formats. FermentIQ™ i The core offering (PTP) offers improved solubility and mouthfeel in protein beverages, a milled offering (MLL) delivers nutrition, taste and mouthfeel profiles that make it ideal for dairy alternatives, and the texturized offering (TXP) provides a “superior springy and juicy texture” for meat alternatives, says the company.
Hahn adds: “Harnessing the power of mushroom mycelia to produce high quality plant protein is perfectly aligned with both consumer expectations and the EU’s commitment to sustainability and food security. It’s little surprise, then, that we are already in conversations with leading food industry players in Europe to formulate and commercialize products containing FermentIQ™plant protein.”
