The European Commission has granted Novel Food status to FermentIQ™ MLL and PTP, which are two of MycoTechnology’s functional plant protein ingredients for the food and beverage sector.
The FermentIQ ingredients are produced using a patented mycelial fermentation platform which provides sensory, functional and nutritional attributes of plant protein. This authorisation follows on from a positive opinion issued earlier this year by the European Food Safety Authority (EFSA) which said it considered FermentIQ pea and rice protein fermented using shiitake mushroom mycelia to be safe for use in a wide range of food and beverage categories.
Having secured Novel Food authorisation, US-based company MycoTechnology is aiming to accelerate expansion into Europe, the company’s next major growth frontier. It has since hired its first European sales representatives, based in Germany and the Netherlands, and has recently announced a partnership with Brenntag, a distributor of chemicals and ingredients, to distribute it in the region. The company’s European expansion will be ‘underpinned’ by its recent Series E fundraising, which generated US$85 million to fuel growth and proliferation of its technology.
“Authorisation means we can now offer food and beverage manufacturers access to our cutting-edge plant protein in Europe for the first time,” explained Alan Hahn, CEO of MycoTechnology. “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 the company’s product portfolio, consisting of FermentIQ plant proteins and ClearIQ flavour clarifiers, is now available globally.
“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,” added Alan Hahn. “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.”
FermentIQ, a pea and rice protein blend created by mushroom mycelia, offers a more neutral-tasting solution in a range of applications. It is available in three formats, including PTP, the milled offering (MLL) and texturised offering (TXP) for applications including beverages, bakery products and dairy alternatives.
According to the company, one recent study conducted found the company’s fermentation process improves protein quality by more than 20% for children aged three plus and can be found here.
Read more latest industry news and developments in our free to download magazine.