Venture capital firm BP Ventures is investing USD 30 million (EUR 26.3 million) into Menlo Park, California, U.S.A.-based alternative protein producer Calysta to support the rollout of the company’s FeedKind protein product.
With the investment, Calysta will be able to expand production of FeedKind – a single-cell protein produced using a proprietary, commercially-validated gas fermentation process. Meant to help improve global food security, the FeedKind protein consists of “naturally occurring, non-GM microbes with the unique ability to use methane as their energy source,” Calysta said.
“Welcoming BP as a partner is a tremendous step forward for FeedKind protein and the best indicator yet that Calysta’s solution to food insecurity in a resource-constrained world can and will achieve global scale,” Calysta President and CEO Alan Shaw said. “The problems facing our food production supply chains have never been more clear, with increasing evidence that land and water scarcity are key challenges to meeting future demand for protein. FeedKind makes more from less, producing feed for livestock, fish, and pets while making smarter use of our resources.”
“We look forward to working closely with BP as we prepare to deliver this product to the world. Calysta will benefit from BP’s operational excellence and focus on safety when deploying multiple production plants,” Shaw added.
BP Ventures and Calysta will also work to forge a strategic partnership surrounding gas and power supply courtesy of the investment, Meghan Sharp, the managing director for BP Ventures, explained.
“We are really excited to be working with the team at Calysta, bringing them into the BP Ventures family as we seek new commercial opportunities for our gas business. Their technology complements our core business while providing opportunities for sustainable products for tomorrow,” Sharp said.
The patented, state-of-the-art fermentation process utilized by Calysta does not involve arable land and requires very little water. It also “does not compete with the human food chain, meaning more food can be produced with less resources,” according to the protein producer. In aquaculture, “FeedKind is seen as a key enabler for growth by reducing reliance on conventional sources of proteins,” Calysta said.
“As the global population grows from 7 billion in 2010 to a projected 9.8 billion in 2050, and incomes grow across the developing world, overall food demand is on course to increase by more than 50 percent, and demand for animal-based foods by nearly 70 percent. FeedKind protein can help achieve a sustainable food future by meeting the growing demands for food while avoiding deforestation and allowing the restoration of abandoned and unproductive land,” the company noted in its press release announcing its BP Ventures investment.
Production of FeedKind is already underway in Calysta’s market introduction facility (MIF) in Teesside, England. The company has conducted trials with Nofima and Thai Union.
Set up 10 years ago, BP Ventures seeks to identify and invest in private, high growth, game-changing technology companies, accelerating innovation across the entire energy spectrum. Since its inception, the capital firm has invested over USD 500 million (EUR 439.8 million) in technology companies across more than 50 entities with more than 300 co-investors.
