Harvesting Plant-Based Proteins

Summary

This transcript highlights an innovative company working to replace synthetic food ingredients with a natural alternative derived from duckweed. By scaling the production of Rubisco, a protein found in leafy greens, the company offers a healthier and more sustainable option for the food industry. With an expanding commercial operation in Texas and strategic partnerships with brands like Chipotle, the company is addressing rising demand. Investors are attracted by the technology's market potential, de-risked operation, and alignment with clean-label goals, positioning the company for future growth and approval from major food safety authorities.

Takeaways

• 😀 The company is focusing on developing natural, sustainable alternatives to synthetic, unhealthy, or allergenic ingredients in the food industry.
• 😀 Rubisco, a protein found in leafy greens, has been identified as a key component for replacing harmful food ingredients.
• 😀 Duckweed (water lentils) is the primary source of Rubisco for the company’s product, offering an eco-friendly solution.
• 😀 The company’s first commercial manufacturing module is based in West Texas, but they need $30 million to scale operations and meet demand.
• 😀 There are already products on the market containing the company’s Rubisco-based ingredient.
• 😀 The company is working with the FDA to gain approval for its product and is also seeking approval from the European Food Safety Authority by 2026.
• 😀 The company’s technology has de-risked both the product and market, and now they’re focusing on solving operational challenges as they move to full-scale manufacturing.
• 😀 Investors are interested in the company because of the de-risking of the technology and market, and its potential to scale successfully.
• 😀 Strategic partnerships, such as with Chipotle, are a crucial part of the company’s go-to-market strategy, helping to bring cleaner, healthier food options to consumers.
• 😀 Chipotle’s mission of producing food with integrity aligns with the company’s goals of providing clean-label, allergen-free food alternatives.

Q & A

What is the main product being discussed in the interview?

The main product is a natural ingredient derived from Rubisco, an enzyme found in leafy greens, which the company sources from duckweed (Lima or water lentils). This ingredient aims to replace synthetic, unhealthy, or allergenic ingredients in food.

Why is Rubisco considered important in this food tech innovation?

Rubisco is one of the most abundant proteins on the planet, and millions of people consume it daily in the form of leafy greens. Its properties make it an ideal candidate for creating a natural, sustainable food ingredient.

What challenge is the company facing in terms of production?

The company has built a commercial manufacturing facility but is unable to meet the growing market demand with its current capacity. They need $30 million to expand their operations and fulfill demand.

How is the company addressing FDA approval for its product?

The company is working closely with the FDA and is in the process of obtaining a 'letter of no questions' from them. They are also pursuing approval from the European Food Safety Authority, expected by 2025 or 2026.

What role do investors play in the company's growth?

Investors, both financial and strategic, are interested in the company because it has de-risked both the technology and market. The company has shown that their product has a clear market fit and is now focused on scaling operations.

What type of investors is the company attracting?

The company is attracting both financial investors who see the potential for growth and strategic investors who are interested in the long-term market impact of the product in the food industry.

What is the company's relationship with Chipotle?

Chipotle is a strategic partner, sharing the company's mission of producing clean-label, healthy food. The company’s product allows Chipotle to unlock new recipes and improve existing ones without introducing allergens or food safety risks.

What is the company's approach to scaling production?

The company has built its first commercial manufacturing module in West Texas and is now focused on expanding its operations to meet commercial demand. They are seeking additional investment to fund this expansion.

Why is there a need for $30 million in funding?

The $30 million is needed to scale the company's manufacturing capacity in order to meet the growing commercial demand for their product. This investment will support the expansion of production facilities.

What makes duckweed (Lima) a suitable source for Rubisco production?

Duckweed is an efficient, cost-effective, and environmentally friendly plant that can be cultivated in large quantities. It provides a sustainable and scalable source of Rubisco, which is key to the company’s mission of replacing synthetic food ingredients.