'Fungus-based' protein company funded by Gates, Bezos, receives approval from Health Canada
Nature's Fynd is referring to its product as 'Fy Protein,' developed from the fungus known as Fusarium strain flavolapis.
An alternative protein company funded by Bill Gates and Jeff Bezos that creates meat substitutes out of a soil fungus has been approved by Health Canada.
As reported by True North, the company Nature's Fynd received authorization from the federal government to sell its "novel food" products in Canada for human consumption.
"Health Canada's review of the information presented in support of the use of Fy Protein™ as a food ingredient and alternative protein source has concluded there are no food safety concerns for the general population," stated the department's bulletin.
The company is referring to its product as 'Fy Protein,' developed from the fungus known as Fusarium strain flavolapis. The source organism was first isolated from a sample taken from Yellowstone National Park in Wyoming as part of a study on life in extreme environments. Nature's Fynd then uses a "breakthrough fermentation process" to grow Fy. Due to the fungus's capacity for growth and self-sufficiency, the company states that "unlimited" amounts of Fy can be grown from the original sample.
Nature's Fynd is funded by a management fund led by former U.S. Vice President Al Gore. Its contributors include Bill Gates, Jeff Bezos, Richard Branson, and Michael Bloomberg. Gore's fund raised $80 million in a round of financing for the alternative meat company, which in total has received $158 million in funding.
“It’s mind-blowing that we’re relying today for food on the same species we started to domesticate when agriculture began 11,000 years ago,” CEO Thomas Jonas said in 2020.
“Out of the millions of organisms and species on the planet, we have perfected our system around fewer than 10 plants that provide about 60% of our global caloric intake—including the plants that feed the animals that we eat. That’s reaching its limitations in terms of its efficiency and its ability to provide food to all of us."
Alternative protein is frequently mentioned as a way to reduce greenhouse gas emissions caused by meat production, as well as reduce the quantities of land and water that are needed for animal agriculture.
Organizations like the World Economic Forum have promoted the use of alternative proteins including from sources such as insects. Ontario's own Aspire Food Group is now producing cricket powder for human consumption, marking a step forward from prior use as a pet food additive.
According to a Research and Markets report, the edible insect market will reach $3.5 billion by 2029 and grow 28.6% annually between 2022 to 2029.
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