Mushroom packaging ©Ecovative

Materials

Ecovative Opens Access to Patent for Plastic-Free Mycelium-Based Materials

Ecovative, a US developer of sustainable mycelium-based technologies, has announced that it is opening access to a European patent for its plastic-free MycoComposite™ materials. All individuals and businesses in Europe can now use the materials in their innovations, providing a sustainable alternative to plastics and environmentally damaging chemicals. The patent outlines a blueprint for the creation of mycelium composites, which have the potential to cut carbon emissions across multiple industries. According to Ecovative, the patent is already in use worldwide in industries such as packaging, construction materials, architecture, and more. Interest in entrepreneurial applications of MycoComposite is reportedly increasing sharply in Europe, and Ecovative hopes to test the potential of open-access patents to spur innovation in mycelium technologies. “Picks and shovels” The news comes a …

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Forager leather jacket, Ecovative Design

Forager leather jacket, Image credit Vasil Hnatiuk

Fungi, Mushrooms & Mycelium

Ecovative Secures $30M in Series E: “It’s Amazing What Mushrooms Can Do”

New York-based Ecovative Design LLC, the global leader in mycelium technology, announces the initial closing of a Series E funding round, surpassing $30 million. The funds will enable Ecovative to realize its ambitions of expanding its Forager business into a premier provider of sustainable textile and foam products worldwide.  Viking Global Investors spearheaded the round, joined by investors such as Standard Investments, Robert Downey Jr.’s FootPrint Coalition Ventures, and AiiM Partners. With the fresh capital, Ecovative has now accumulated a total of $120 million in funding to date. Half of the investment, $15 million, will be reinvested into its food subsidiary, MyForest Foods Co., which was established in 2020. The funds allocated to MyForest Foods, whose flagship product is mycelium bacon product MyBacon, will facilitate …

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Eben Bayer headshot

Eben Bayer, image supplied

Opinion

Op Ed: Eben Bayer, CEO, MyForest Foods, On What Lies Ahead for Plant-Based Meat

Eben Bayer, founder and CEO of Ecovative Design and MyForestFoods Co. (previously Atlast) is one of the most prominent voices in the world of mycelium. In this opinion piece, Bayer urges that for plant-based meat, the best is yet to come: “The current landscape does not spell trouble for most companies in the space. In fact, history promises that we’re just getting started,” he encourages. Plant-Based Meat Industry: The Best is Yet To Come By Eben Bayer The plant-based market has been sparking something that can only be described as ‘headline whiplash’ lately. Contradicting messages splash across our screens, from “save the world” potential to “this too shall pass” doom and gloom. So, which one is it?  As a long-time problem solver and innovator, I’ve …

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MyForest Foods Bacon

© MyForest Foods

Fungi, Mushrooms & Mycelium

MyForest Foods Opens ‘World’s Largest’ AirMycelium Vertical Farm and Expands MyBacon Retailers

MyForest Foods Co., maker of mycelium-based MyBacon, announces the opening of Swersey Silos, a new vertical farm dedicated to scaling the brand’s popular mushroom bacon. Utilizing AirMycelium technology, the farm is part of 120,000 sq. ft. of new infrastructure MyForest is building to serve one million consumers by 2024.   Located in Green Island, NY, Swersey Silos was designed and constructed by Ecovative, the mycelium materials company that spun off MyForest in 2020. Using patented AirMycelium technology, the farm is the largest facility of its kind, and is capable of producing nearly 3 million pounds of MyBacon annually. With the opening of another facility in Saratoga Springs, NY this fall, MyForest projects it can serve one million consumers by the year 2024. This autumn, the brand …

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MyForest Foods Bacon

© MyForest Foods

Food & Beverage

MyForest Foods Closes $15M Venture Loan for Whole Cut Mycelium Bacon

Horizon Technology Finance Corporation, a leading specialty finance company, announces it closed a $15 million venture loan to MyForest Foods Co., which produces mycelium-based bacon. Horizon states it funded $7.5 million toward the venture loan facility, with another $7.5 million contributed by advisor Horizon Technology Finance Management LLC. MyForest plans to use the loan proceeds for company growth and working capital purposes. Formerly known as Atlast, MyForest says it produces whole-cut animal-free meats from mycelium, the underground root structures of mushrooms. MyForest’s first product is MyBacon – gourmet strips created to offer the same taste, smokiness and crunch of traditional pork bacon. “Hyper-focused” on scaling Made from just six ingredients, MyBacon’s first pre-order sale sold out of its entire planned production run back in 2020. …

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Atlast bacon

©Atlast

Investments & Finance

Ecovative Spinoff Atlast Raises $40M From Investors Including Robert Downey Jr for Mycelium Bacon

Atlast Food Co., a spinoff from Ecovative Design headed by Eben Bayer, has secured $40 million from investors including Robert Downey Jr.’s Footprint Coalition Ventures. The fresh funds are in addition to the $60 million raised for Ecovative just this month, totalling $100 million which will be utilised to create the world’s largest mycelium farm which is set to produce 100 million pounds per year.

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