EU Authorises FermentIQ Plant-based Protein from MycoTechnology

The European Commission has granted Novel Food status to FermentIQ MLL and PTP, two of MycoTechnology’s innovative and highly functional natural plant protein ingredients. FermentIQ ingredients are produced using a patented mycelial fermentation platform that improves the sensory, functional, and nutritional attributes of plant protein. The authorisation follows a positive opinion issued earlier this year by the European Food Safety Authority (EFSA), which said it considered FermentIQ pea and rice protein fermented by shiitake mushroom mycelia to be safe for use in a wide range of food and beverage categories.

With Novel Food authorisation secured, USA-based MycoTechnology is set to accelerate its expansion into Europe. It has hired its first European sales representatives, based in Germany and the Netherlands, and has recently announced a partnership with Brenntag for distribution in the region. The company’s European expansion will be underpinned by its recent Series E fundraise, which generated USD85m to fuel growth and proliferation of its technology to address the global need for healthier, more delicious food.

Welcoming the news, Alan Hahn, MycoTechnology CEO, commented: “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 application 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.”

The addition of sales and distribution capabilities in Europe means that MycoTechnology’s product portfolio – comprising FermentIQ plant proteins and ClearIQ flavor clarifiers – is now available globally, with sales networks already in place in North America, Latin America, and Asia.

 

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