As the world’s population continues to grow, many companies are working to address the need to feed everyone. Paris-based Edonia is one of the startups working on producing protein ingredients from microalgae.
Edonia joins companies such as Bevel, AlgaeCore Technologies, Algenuity and NewFish, all of which are tapping into the global commercial algae market, which is expected to be worth $25.4 billion by 2033.
The company now has 2 million euros ($2.1 million) and is pushing ahead with the production of plant-based ingredients from microalgae biomass, derived from spirulina or chlorella, which Valentin claims is more nutritious than meat, Hugo said Valentin, CEO of Edonia, told TechCrunch.
Edonia is Valentin’s second company. He also co-founded Ammi, a company that also focused on spirulina consumption. Previously, he was an account director for the consulting firm Uzik. He said that during his time at Ammi he became convinced that mycology (the study of fungi) would play an important role in the current protein transition.
Edonia produces the protein via a unique microalgae transformation process called “Edonization.” This converts the microalgae biomass into a textural super-ingredient with numerous taste, smell, texture, nutritional and environmental properties.
“We want to solve the organoleptic (sensory organs) aspects of mycology,” said Valentin. “Today it is best known as a green powder with a bitter taste. The aim of the technologies is to solve this problem.”
How Edonization works
The Edonization technique changes the color from green to a darker, richer looking brown. It transforms the texture into “meaty, tender grains” with flavors similar to those that would come from smoking or grilling, Valentine said.
Edonia’s microalgae product replaces minced meat such as meatballs. (Image credit: Lily Bedos + Edonia)
Edo-1 is the startup’s first product, which Valentin says offers an umami-like taste and a texture more reminiscent of ground meat than soy proteins. Therefore, it is a good plant-based substitute for ground meat, he said.
In addition, the minimally processed Edo-1 is 30% protein, consists of essential amino acids and contains other minerals and vitamins. This is a slightly higher protein content than, for example, ground meat, which can be around 20% (a large percentage of beef is water).
At a time when 34% of greenhouse gas emissions come from our food, Valentin also wanted to show that microalgae can reduce emissions. Edonia worked with university institution AgroParisTech to develop a life cycle assessment showing that Edonia’s product could emit 40 times less carbon dioxide than its minced meat equivalent and three times less than its structured soy equivalent.
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 the product to market. Valentin expects to have a full-fledged factory in about two years.
The company also works with beta testers from food manufacturers to develop recipes and food products using Edonia’s ingredients.
“We plan to go to market with commercial proofs of concepts by the end of this year,” he said.
Edonia is not subject to the regulations of the “Novel Food” category and therefore does not require authorization for marketing in France or the European Union. This will allow it to commercialize its production more quickly. The official launch will take place in Europe, and then the startup wants to quickly expand to other continents such as Asia and the United States through strategic partnerships, Valentin said.
Bring Edo-1 to 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 took part. The capital will allow the company to finance a pilot plant and expand its research and development, Valentin said.
The quality of Edonia products has already been tested and confirmed by French R&D chef Laurent Sicre, whose culinary creation and development expertise is recognized by food industry professionals and restaurateurs.
In addition to meat alternatives, Valentin says Edo-1 can also improve the nutrition of other products, including bread, cakes, cream and granola bars, without compromising the eating experience.
Edonia is currently setting up its industrial demonstrator and Valentin expects to be able to run it on an industrial scale starting this summer. The next step is to obtain additional letters of intent for food manufacturers to bring a product containing Edo-1 to market.