Tasteful plant protein
Myoglobin producer Paleo NV has closed a €12m Series A financing. The financing round was led by DSM Venturing, Planet A Ventures along with Gimv, SFPIM Relaunch, Beyond Impact, and Siddhi Capital. The proceeds will enable the Belgian pioneer in alternative protein food additives to scale up microbial production of its secreted species-specific myoglobin, which has been demonstrated to be a taste enhancer for plant-based meat, and move into commercial production (doi: 10.3390/foods11131985). In the next step, the company pursues to reach the regulatory approval in key markets. The product portfolio includes six different species/tastes (beef, chicken, pork, lamb, tuna, and mammoth).
Conventional meat production contributes to 15% of the global greenhouse gas emissions, high energy consumption and land use change. The company has solved the problem of insufficient taste and nutritional value and offers alternative protein producers a protein supplement that only makes up 0.1–1% of total protein in plant-based meat alternatives while making up over 80% of species-specific meat or fish taste. Paleo says that their protein products are 100% identical to animal proteins.