The Better Meat Co. (BMC) has signed a letter of intent (LOI) with a large South American meat company for the purchase of Rhiza mycoprotein. The agreement, the company’s largest to date, outlines plans to supply 30 dry tons of Rhiza mycoprotein per month, equivalent to 90 tons when hydrated.
“Major food manufacturers love working with this ingredient”
This latest LOI brings BMC’s total projected revenue from signed agreements with major meat companies in South America, North America, and Asia to approximately $13 million annually. The company partners with meat producers under joint development agreements (JDAs), allowing them to incorporate Rhiza mycoprotein into new product formulations. Participating companies pay a monthly fee for access to the ingredient and, upon completion of the JDA, may enter purchase agreements contingent on commercial-scale availability.
Applications in blended and plant-based
Rhiza mycoprotein is primarily used in blended meat products, where it reduces costs and improves nutritional value while maintaining sensory characteristics. Blind taste tests have indicated consumer preference for Rhiza-enhanced meat products over conventional alternatives. The ingredient is also utilized in fully plant-based products, including fish alternatives, but current LOIs are focused on blended applications.
Paul Shapiro, CEO of The Better Meat Co. told vegconomist, “Demand for Rhiza mycoprotein dramatically outstrips the available supply we can produce in our demonstration plant, which is why it’s imperative that we scale this system up with a contract manufacturer quickly.”
Approvals and expansion plans
BMC currently operates a 9,000-liter fermentation demonstration facility in Sacramento and has reduced production costs through continuous fermentation. The company has received regulatory approvals from the FDA, USDA, and Singaporean authorities and was recently awarded a seven-figure grant from the US Department of Defense to scale its fermentation system. It also holds five US patents and was recognized by TIME magazine as one of America’s top GreenTech companies.
With multiple agreements in place and regulatory approvals secured, BMC is preparing to scale production through contract manufacturing to meet growing demand.
“Rhiza mycoprotein is a low-cost, highly versatile whole food ingredient that enhances both animal meat and animal-free meat applications, which is why major food manufacturers love working with this ingredient so much,” Shapiro continued.
