Mycoprotein producer Enough has just received a significant funding boost in the form of €40 million, aimed at doubling their current production capacity. As a producer of nutritious and sustainable mycoprotein, Enough has become a leader in promoting clean-labeled, plant-based nutrition to a growing global market.
The new €40 million fund will help the company expand its production capacity, which will have multiple impacts on the food tech sector. Firstly, more mycoprotein on the market means more opportunities for accessible plant-based nutrition, which can be beneficial for both human and environmental health. Additionally, the ability to scale up production allows companies like Enough to offer their product more widely and in a variety of forms like meat-alike dishes, frozen meals, and even snacks.
Indeed, many expect the fund to accelerate Enough’s mission to “free taste buds and bodies from the animal-based proteins it’s been enslaved to for millennia”. According to the company’s CEO and co-founder, Thibault Pigasse, “the global trend to choose a healthier and more sustainable diet is unstoppable”. He believes that “Enough has the potential to provide this new way of eating to everyone in the world”.
The European Union has also taken note of the company’s potential, committing €6 million in new resources to help increase its production capacity. This is due to the fact that to meet the projected EU demand for protein-rich food, it will take about 800 million tons of extra protein, the equivalent of over four times the annual EU meat production today. Thus, the EU has turned to plant-based protein sources like Enough’s mycoprotein as a viable alternative.
Overall, the new investment and EU resources mark a huge step forward in providing sustainable and nutritious mycoprotein alternatives on a global scale. The funds will improve the scale and strategic efficiency of Enough’s production, so that even more people can access plant-based nutrition would otherwise not be available.