As the world's population continues to grow, many companies are addressing the need to feed everyone. Paris-based Edonia is one of the startups working on creating protein raw materials using microalgae.
Edonia joins companies such as Bevel, AlgaeCore Technologies, Algenuity and NewFish that are tapping into the global commercial algae market expected to be valued at $25.4 billion by 2033.
The company is currently funding an initiative with €2 million ($2.1 million) to produce plant-based ingredients from microalgae biomass produced from spirulina and chlorella, which Valentin claims are more nutritious than meat. “We're making progress,” Edonia CEO Hugo Valentin told TechCrunch.
Edonia is Valentin's second company. He was also the co-founder of the company Ammi, which also worked on spirulina consumption. Prior to that, he was an account director at the consulting firm Uzik. He said that while at Ammi, he was convinced that mycology (the study of fungi) would play an important role in the current protein transformation.
Edonia produces proteins through a unique microalgae transformation process called “edonization.” This transforms microalgae biomass into a textured super-ingredient with numerous tastes, smells, textures, nutritional and environmental properties.
“We want to address the sensory side of mycology,” Valentin said. “Today, it is primarily known as a bitter-tasting green powder. The goal of this technology is to solve this problem.”
How Ednization works
Edonization technology changes the color from green to a darker, richer brown. According to Valentin, it changes the texture to a “meat-like soft grain” and produces aromas similar to those produced by smoking or grilling.
Edonia's microalgae products can replace ground meat such as meatballs. (Image credit: Lilie Bedos + Edonia)
Ed-1 was the startup's first product, and Valentin said it had an umami-like flavor and texture more similar to ground meat than soy protein. Therefore, it is suitable as a plant-based alternative to ground meat, he said.
Additionally, minimally processed Edo-1 is made up of 30% of its protein from essential amino acids, as well as other minerals and vitamins. This means that ground beef, for example, may have a slightly higher percentage of protein, around 20% (beef is mostly water).
With 34% of greenhouse gas emissions now coming from our food, Valentin also wanted to show that microalgae can reduce emissions. Edonia has developed a life cycle assessment in collaboration with university institution Agroparitech to demonstrate that Edonia's products reduce carbon emissions by 40 times compared to ground meat equivalents and by a third compared to textured soybean equivalents. was shown.
scale up
Edonia is already capable of producing several kilograms of Edo-1. Valentin's next goal is to scale the technology to bring thousands of tons of product to market. Valentin expects a full-scale factory to be completed within about two years.
The company is also working with beta testers from food manufacturers to develop recipes and foods using Edonia ingredients.
“We plan to have a commercial proof of concept and bring it to market by the end of this year,” he said.
Edonia is not subject to regulation in the “novel food” category, so it does not require French or European Union approval to be placed on the market. This allows production to be commercialized more quickly. The official launch will take place in Europe, after which the company will aim to quickly expand to other continents such as Asia and the United States through strategic partnerships, Valentin said.
Place Edo-1 on the plate
The €2 million investment was led by French venture capital firm Asterion Ventures, which recently invested in another “green” company, Diamfab. BPI also participated. The capital will allow the company to fund a pilot plant and expand research and development, Valentin said.
The quality of Edonia's products has already been tested and approved by French research and development chef Laurent Siclet, whose culinary creation and development expertise is recognized by food industry experts and restaurateurs. Masu.
In addition to being a meat substitute, Valentin said Edo-1 can improve the nutrition of other products such as breads, cakes, creams and cereal bars without compromising the eating experience.
Edonia is currently installing an industrial demonstrator, and Valentin expects to be able to run it on an industrial scale starting this summer. The next step is to secure additional consent forms for food manufacturers to market products containing Edo-1.