| Company type | Private |
|---|---|
| Industry | Food |
| Founded | November 13, 2012 |
| Founder | Thomas Jonas Mark Kozubal Yuval Avniel Rich Macur Daniel Livny Matthew Strongin [1] |
| Headquarters | Chicago, Illinois, US |
Key people | Thomas Jonas, (CEO) Mark Kozubal, (CSO) Karuna Rawal, (Chief Marketing Officer) |
| Website | NaturesFynd.com |
Nature's Fynd (formerly known as Sustainable Bioproducts LLC and focused on biofuel) is a company that develops microbe-based proteins for meat substitutes and dairy substitutes. The protein is produced by a fungus first identified in geothermal springs in Yellowstone National Park.
Founded in 2012, and based in Chicago, the company has been funded by a series of federal agencies in the United States (National Science Foundation, Department of Agriculture, Environmental Protection Agency and National Aeronautics and Space Administration) since 2013 and began taking venture capital financing backed by investors including 1955 Capital, ADM, Breakthrough Energy Ventures, Danone, Generation, and Softbank.
In 2009, co-founder and CSO Mark Kozubal was on a NASA-funded study of life in extreme environments that uncovered the "Fy" protein, derived from the acidophilic fungus Fusarium strain flavolapis, [2] originally dubbed MK7, in the geothermal springs of the Supervolcano in Yellowstone National Park. [3] The purpose of the NASA-funded study was to prepare a space probe to search for life on other planets. [4] While still a postdoctoral researcher in February 2012, Kozubal determined that the fungus Fusarium strain flavolapis [5] could be converted into a lipid that could be converted into biodiesel. [6] The company was founded on November 13, 2012, as Sustainable Bioproducts LLC. [7]
Sustainable Bioproducts partnered with Montana State University in 2013 to understand the marketplace fit of MK7, [8] and it has a profit-sharing agreement with Yellowstone in exchange for the right to harvest from its land. [9] It has been funded by SBIR grants from numerous federal agencies: National Science Foundation (Phase I $149,848 in 2013 and Phase II $620,779 in 2014), [10] [11] Department of Agriculture (Phase I $99,989 in 2014), [12] Environmental Protection Agency (Phase I $99,944 in 2014 and Phase II $300,000 in 2015), [13] [14] and National Aeronautics and Space Administration (Phase I $123,809 in 2018 and Phase II $749,939 in 2020), [15] [16] Sustainable Bioproducts co-founder and CEO Thomas Jonas and Kozubal originally teamed up on an effort to use "Fy" to develop a more efficient biofuel but pivoted to food. [17] At one point the company was focused on converting biological waste. [18]
On February 4, 2019, Sustainable Bioproducts announced a $33-million Series A funding round led by Silicon Valley venture firm 1955 Capital. The round was backed by Breakthrough Energy Ventures, a $1 billion fund led by Bill Gates with additional backing from Jeff Bezos, Michael Bloomberg and Richard Branson as well as ADM Ventures, the venture arm of Archer Daniels Midland; Danone Manifesto Ventures, the venture arm of Danone; Lauder Partners; and the Liebelson family office. At the time of its Series A, the 22-employee company was based out of the University of Chicago's Polsky Center for Entrepreneurship and Innovation and believed itself to be two years from commercialization of its solid, liquid or powder products. [19]
In March 2020, Sustainable Bioproducts rebranded as Nature's Fynd and closed an $80-million Series B round that enabled it to move into a 35,000-square-foot (3,300 m2) plant in the Back of the Yards neighborhood near the old Union Stock Yard [4] to produce its geothermal springs-sourced microbe-based product, which has a more efficient production rate and more complete protein than its competitors, and that will join kombucha in the newly evolving fermented consumables category. [20] At the time of the Series B round, which was led by Breakthrough Energy Ventures and Al Gore's Generation Investment Management LLP, Nature's Fynd employed 50 people in the new Chicago production center and research & development office in Bozeman, Montana. [17] The company expected to have 100 employees by the end of 2020. [21] The Chicago production facility was built out with the aim of producing branded consumer products such as animal-free cream cheese, chicken nuggets, beef sliders, pork dumplings and chocolate mousse. Meanwhile, the GRAS application was underway as were product labeling efforts regarding the microbial fermented protein that is fungus-based rather than animal- or plant-based. [17]
In December 2020, the company raised $45 million through venture debt and equipment financing commitments in preparation for its 2021 launch as it expanded and solidified its personnel. [22] This brought its cumulative financial backing to $158 million. [23]
On February 14, Nature's Fynd investor, Bill Gates, discussed the company during his 60 Minutes interview with Anderson Cooper. [24] On February 15, 2021, the company announced its first 2 products: dairy-free cream cheese and meatless breakfast patties, which it made available for preorder. [25] [26]
MK7 was originally known as a fungus that consumed algae, produced a lipid byproduct and upon drying it exuded oil. [8] "Fy", which is short for Fusarium str. yellowstonensis, contains a complete protein (has all nine essential amino acids needed for human nutrition) that is believed to have potential use in meatless burgers, dairy substitutes and protein powders. Unlike many alternative proteins, it is itself a food rather than a protein additive to complement other processed ingredients. [9]
Sometimes called Fusarium Spp, the branching network of mycelial filaments forms a proteinaceous facsimile of meat in open trays with basic post processing (drying, pressing, and flavoring) without the need for a bioreactor. [27] The process uses propagation of extremophiles rather than bioengineering, resulting in an end product that is mostly protein with fibers and oils as well as micronutrients vitamin B12, vitamin D, iron and calcium, rather than a substance from which to gather a protein extract. [17] The fermentation is fueled by starches and simple sugars. [4] The fungus-based protein process is far more efficient than either plant-based or animal-based proteins with a season-agnostic biomass doubling time that is measured in hours and is not resource-intensive. [17] Since the process takes 3.5 days, a single baking sheet can produce the equivalent of 30 chickens per year. [4] The company is working with NASA to develop a bioreactor that will employ the Fy microbe in space travel. [4]
Biofuel is a fuel that is produced over a short time span from biomass, rather than by the very slow natural processes involved in the formation of fossil fuels such as oil. Biofuel can be produced from plants or from agricultural, domestic or industrial biowaste. Biofuels are mostly used for transportation, but can also be used for heating and electricity. Biofuels are regarded as a renewable energy source. The use of biofuel has been subject to criticism regarding the "food vs fuel" debate, varied assessments of their sustainability, and possible deforestation and biodiversity loss as a result of biofuel production.
Biodiesel is a renewable biofuel, a form of diesel fuel, derived from biological sources like vegetable oils, animal fats, or recycled greases, and consisting of long-chain fatty acid esters. It is typically made from fats.
Quorn is a brand of meat substitute products. Quorn originated in the UK and is sold primarily in Europe, but is available in 11 countries. The brand is owned by parent company Monde Nissin.
Mycoprotein, also known as mycelium-based protein or fungal protein, is a form of single-cell protein derived from fungi for human consumption.
Biodiesel production is the process of producing the biofuel, biodiesel, through the chemical reactions of transesterification and esterification. This process renders a product (chemistry) and by-products.
Fusarium is a large genus of filamentous fungi, part of a group often referred to as hyphomycetes, widely distributed in soil and associated with plants. Most species are harmless saprobes, and are relatively abundant members of the soil microbial community. Some species produce mycotoxins in cereal crops that can affect human and animal health if they enter the food chain. The main toxins produced by these Fusarium species are fumonisins and trichothecenes. Despite most species apparently being harmless, some Fusarium species and subspecific groups are among the most important fungal pathogens of plants and animals.
A biorefinery is a refinery that converts biomass to energy and other beneficial byproducts. The International Energy Agency Bioenergy Task 42 defined biorefining as "the sustainable processing of biomass into a spectrum of bio-based products and bioenergy ". As refineries, biorefineries can provide multiple chemicals by fractioning an initial raw material (biomass) into multiple intermediates that can be further converted into value-added products. Each refining phase is also referred to as a "cascading phase". The use of biomass as feedstock can provide a benefit by reducing the impacts on the environment, as lower pollutants emissions and reduction in the emissions of hazard products. In addition, biorefineries are intended to achieve the following goals:
Fusarium venenatum is a microfungus of the genus Fusarium that has a high protein content. One of its strains is used commercially for the production of the single cell protein mycoprotein Quorn.
Bioconversion, also known as biotransformation, is the conversion of organic materials, such as plant or animal waste, into usable products or energy sources by biological processes or agents, such as certain microorganisms. One example is the industrial production of cortisone, which one step is the bioconversion of progesterone to 11-alpha-Hydroxyprogesterone by Rhizopus nigricans. Another example is the bioconversion of glycerol to 1,3-propanediol, which is part of scientific research for many decades.
Pyrolysis oil, sometimes also known as biocrude or bio-oil, is a synthetic fuel with few industrial application and under investigation as substitute for petroleum. It is obtained by heating dried biomass without oxygen in a reactor at a temperature of about 500 °C (900 °F) with subsequent cooling, separation from the aqueous phase and other processes. Pyrolysis oil is a kind of tar and normally contains levels of oxygen too high to be considered a pure hydrocarbon. This high oxygen content results in non-volatility, corrosiveness, partial miscibility with fossil fuels, thermal instability, and a tendency to polymerize when exposed to air. As such, it is distinctly different from petroleum products. Removing oxygen from bio-oil or nitrogen from algal bio-oil is known as upgrading.
Clean Fuels Alliance America (CFAA), formerly known as the National Biodiesel Board, is an American commercial trade association representing the biodiesel industry as the unifying and coordinating body for research and development in the United States. Its mission is to advance the interests of members by creating sustainable biodiesel industry growth. CFAA works to remove barriers to the industry and educate the public about biodiesel. It offers regulatory, technical, communications, education, and petroleum outreach programs.
Algal nutrient solutions are made up of a mixture of chemical salts and seawater. Sometimes referred to as "Growth Media", nutrient solutions, provide the materials needed for algae to grow. Nutrient solutions, as opposed to fertilizers, are designed specifically for use in aquatic environments and their composition is much more precise. In a unified system, algal biomass can be collected by utilizing carbon dioxide emanating from power plants and wastewater discharged by both industrial and domestic sources. This approach allows for the concurrent exploitation of the microalgae's capabilities in both carbon dioxide fixation and wastewater treatment. Algae, macroalgae, and microalgae hold promise in addressing critical global challenges. Sustainable development goals can be advanced through algae-based solutions, to promote a healthy global ecosystem.
Algae fuel, algal biofuel, or algal oil is an alternative to liquid fossil fuels that uses algae as its source of energy-rich oils. Also, algae fuels are an alternative to commonly known biofuel sources, such as corn and sugarcane. When made from seaweed (macroalgae) it can be known as seaweed fuel or seaweed oil.
Hydrotreated vegetable oil (HVO) is a biofuel made by the hydrocracking or hydrogenation of vegetable oil. Hydrocracking breaks big molecules into smaller ones using hydrogen while hydrogenation adds hydrogen to molecules. These methods can be used to create substitutes for gasoline, diesel, propane, kerosene and other chemical feedstock. Diesel fuel produced from these sources is known as green diesel or renewable diesel.
Chicken fat is fat obtained from chicken rendering and processing. Of the many animal-sourced substances, chicken fat is noted for being high in linoleic acid, an omega-6 fatty acid. Linoleic acid levels are between 17.9% and 22.8%. It is a common flavoring, additive or main component of chicken soup. It is often used in pet foods, and has been used in the production of biodiesel. One method of converting chicken fat into biodiesel is through a process called supercritical methanol treatment.
Cellana, Inc. is an American company which develops of algae-based bioproducts for high-value nutrition, ink, and bioenergy applications, including Omega-3 nutraceutical applications, sustainable ink, aquaculture and animal feeds, human food ingredients, pigments, specialty chemicals, and biofuels. The company, with offices in Hawaii and San Diego, has received multiple multimillion-dollar grants from the United States Department of Energy and United States Department of Agriculture.
LS-9 Inc was a venture-funded company focused on producing diesel fuel from transgenic organisms. It launched in 2005, took in $81 million in investment, and in 2013 was sold to Renewable Energy Group for $40 million in cash and stock, and an additional $21.5 million if technology and production milestones were met.
Bioproducts or bio-based products are materials, chemicals and energy derived from renewable biological material.
The Great Lakes Bioenergy Research Center (GLBRC) is one of four bioenergy research centers established in 2007 by the U.S. Department of Energy. It is led by the University of Wisconsin-Madison with Michigan State University as a primary partner. The goal of GLBRC is to create biofuels and bioproducts that are economically viable and environmentally sustainable. GLBRC provides a collaborative environment in which researchers with diverse backgrounds are drawn together by their pursuit of scientific questions related to developing sustainable biofuels and bioproducts. GLBRC research focuses on engineering bioenergy crops to enhance their environmental and economic value, generating multiple products from plant biomass, and optimizing the field-to-product pipeline. Its research is integrated across many disciplines and areas of focus, coordinating efforts between academic, federal, and private sector bodies as part of the field-to-product pipeline.
