New Developments:
- The Better Meat Co. has secured a $1.4 million grant from the U.S. Defense Department to expand production of their signature mycoprotein ingredient, Rhiza, which is currently produced in large quantities at their Sacramento pilot plant.
- This grant is part of the Distributed Bioindustrial Manufacturing Program, an initiative by the White House to promote advancements in biotechnology by U.S. businesses.
- Based in Sacramento, California, the company specializes in creating sustainable protein from microscopic fungi. Following FDA approval in July, Better Meat is now able to produce Rhiza without any concerns raised by the FDA.
Insightful Analysis:
Better Meat sells Rhiza to food companies looking for sustainable protein options. Their product differentiates itself from competitors like Quorn and Enough Foods by utilizing a unique fungi strain.
The grant will enable Better Meat to develop an allergen-free version of Rhiza, addressing potential concerns raised by a study linking certain fungal ingredients to allergic reactions and gastrointestinal symptoms.
Unlike Quorn, which uses Fusarium venenatum, Better Meat’s Rhiza is derived from Neurospora crassa, offering a safer alternative protein source with potential for widespread consumer adoption.
CEO Shapiro expressed excitement about scaling up production to introduce Rhiza to a larger audience, aiming to overcome consumer skepticism and drive growth in the global mycoprotein market.
With an expected compound annual growth rate of 6.93% from 2024 to 2033, the mycoprotein market is on the rise due to increasing demand for sustainable protein sources.