*** EXCLUSIVE *** YELLOWSTONE NATIONAL PARK, WY – MAY 2016: The pools steam and bubble, reminding … [+] you that this volcano is well overdue an eruption, taken in May 2016, in Yellowstone National Park, Wyoming, United States. WITNESSING the beautiful spectrum of colours in Yellowstone National Park springs, you could almost forget youre standing on a supervolcano way past its eruption due date. The extraterrestrial-looking mineral-rich pools are caused by bacteria and thermophiles growing around the edges, creating the striking colours. The heat from three super eruptions thousands of years ago still powers the parks geysers, hot springs, fumaroles and mud pots, indicating how frighteningly active this volcano is directly under visitors feet. PHOTOGRAPH BY Russell Pearson / Barcroft Images London-T:+44 207 033 1031 E:hello@barcroftmedia.com – New York-T:+1 212 796 2458 E:hello@barcroftusa.com – New Delhi-T:+91 11 4053 2429 E:hello@barcroftindia.com www.barcroftmedia.com (Photo credit should read Russell Pearson /Barcroft Media via Getty Images / Barcroft Media via Getty Images)
Food technology company Nature’s Fynd, previously known as Sustainable Bioproducts, has begun to produce protein from microbes originally discovered in the geothermal springs of Yellowstone’s ancient volcano this month in its new Chicago facility.
The 35,000-square-foot plant is located on the historic Union Stock Yards in the city’s South Side. Nature Fynd said it will also be making food and beverage products using the novel protein source across the breakfast, lunch, dinner, and snacks sectors.
The move was made possible after Nature’s Fynd closed a $80 million funding recently led by two sustainability-focused investment firms, Generation Investment Management and Breakthrough Energy Ventures.
Lila Preston, co-head of the growth equity strategy at Generation Investment Management, said: “Nature’s Fynd has a highly efficient solution to help address the climate crisis.
“We have tracked the team and technology for several years and believe this is one of the most scalable platforms to drive true food system sustainability.”
Carmichael Roberts, a Breakthrough Energy Ventures member, notes how Nature’s Fynd plays a critical role in a world where demand for protein is increasing. “We urgently need new solutions that meet our nutritional needs without further damaging the environment,” he said.
Other investors participating in the round include 1955 Capital, Mousse Partners, ADM Ventures, and Danone Manifesto Ventures.
Advantages over plant- and meat-based protein
Nature’s Fynd was launched around 2015 by Thomas Jonas, who previously worked across various industries, including beauty and packaging, alongside his business partner Mark Kozubal.
Jonas said the company emerged out of a NASA-backed research about how certain organisms thrive in the extreme environmental conditions.
Yellowstone National Park turned out to be one of the few places on Earth that enable such study, which led to the discovery of a complete protein that contains essential amino acids.
This is a more attractive protein source than its plant-based counterpart since very few plants can provide complete protein, according to Jonas.
Pea protein, for instance, is not a complete protein, he explained. “So you might see products claim they have 20g of protein, but they are not as good as 20g of complete protein,” adding Nature’s Fynd’s product also contains fiber, calcium, and vitamin, making it a valuable nutritional add-on to food and beverage.
Thomas Jonas, CEO and co-founder of Nature’s Fynd, says their products provide a complete protein, … [+] which is more nutritious than plant-and meat-based alternatives.
The production rate of microbes-based protein is also much higher compared with that of meat-based protein. Jonas said: “We didn’t put a factory at Yellowstone because we only needed a small amount of microbes, and we can cultivate them in our labs … For us, from one microbe cell to two cells, it only takes a couple of hours. They can multiply very quickly.”
He added: “We also use 99% less land and generate 99% less greenhouse gas emission, and about 90% less water compared to raising animals.”
Capitalizing on the fermentation market growth
Nature’s Fynd plans to sell its microbial protein directly to CPG customers instead of working with a third-party ingredients supplier, and has demoed its products in food, such as pork-based cha siu bao, and Italian beef sandwich.
“In these challenging and uncertain times, this round of funding from top grade investors provides us with the means to progress safely on our path to commercialization and weather a storm if needed. But our immediate focus right now is on making sure we do everything we can to protect the health and safety of our employees, their families and their communities.”
“We are so new to the market, but we’re well-positioned to tell stories about what [our product] is as a brand,” Jonas told me. “We’re also open to partnering with other food companies.”
The product is expected to attract health-focused consumers who are familiar with the benefits of fermentation chemicals — a market that is anticipated to grow at a 4.7% CAGR in value globally between 2017 and 2023, reaching $205 billion by the end of the forecast period, according to Allied Market Research.
Jonas noted Nature’s Fynd will be completely transparent with labeling. “This is fermented microbial protein,” he said. “The fermentation category was non-existent not so long ago in food. Look at the market size of kombucha now.”
Nature’s Fynd, which also has a R&D center in Montana, plans to employ more than 100 people by the end of 2020.