Onego Bio’s animal-free egg white ingredient “Bioalbumen” produced by precision fermentation.Photo/Onego Bio
Onego Bio is a biotechnology company spun off from the VTT Technology Research Center in Finland.
The company uses its commercially proven Trichoderma technology to solve environmental problems associated with eggs, one of the world’s most used animal proteins.
Onego Bio says its sustainable and cost-effective precision fermentation method produces ovalbumin, the most abundant egg white protein, and the team believes the technology excels because of its efficiency and productivity. I believe there are.
Onego raised €10 million ($10 million) in seed funding from Agronomics and Maki VC in February, and Business Finland, now a public institution under the Finnish Ministry of Employment and Economy, raised another €4.5 million ($4.5 million). ) grants. For the research and development work of Onego Bio.
Business Finland’s funding will increase business expectations by increasing the resources of projects and speeding up their implementation.
Addressing climate change
According to Business Finland, its solutions address major global challenges and development trends in food production. It has great potential for international business, promoting sustainable food production, food security and combating climate change.
The funded project will also facilitate the commercialization of public research findings into a global competitive advantage, with a significant positive impact on the company’s business development.
“Since our establishment in February 2022, our team has worked hard to launch outstanding development projects, recruit talented new team members, and generate business plans and commercial scenarios. With the help of this amazing additional funding, we will be able to focus on even more complex and ambitious research and development areas and keep our risk appetite and performance requirements high.
Industry, then Consumer
Cellular agriculture uses microbes and bioreactors to replace traditional animal husbandry and can provide the same daily food ingredients without a livestock system.
Due to its unique functional properties, egg white is difficult to replace with alternative ingredients and is often cited as one of the last frontiers before completely animal-free products are manufactured. Provides the nutritional and functional benefits of egg whites without the ethical and safety concerns.
The company aims to launch its first product, Bioalbumen, as a food ingredient for the food industry, and then enter the consumer market with its own branded products for baking and cooking.