Latest News - Corporate Happenings

New Zealand Startup Jooules Raises NZ$1M to Advance Gaseous Fermentation Technology for Protein Production

May 2024

Latest News - Corporate Happenings

New Zealand Startup Jooules Raises NZ$1M to Advance Gaseous Fermentation Technology for Protein Production

May 2024

Jooules, a startup based in Wellington, New Zealand, has successfully raised NZ$1 million (approximately $600,000 USD) in funding to further develop its innovative gaseous fermentation technology. The investment, provided by Sprout Agritech LP, will bolster Jooules' efforts to produce protein-rich food ingredients from carbon emissions streams.

The company's groundbreaking approach involves harnessing microbial fermentation to convert carbon dioxide (CO2) into high-quality protein. Unlike traditional protein sources, Jooules' process consumes significantly less water and land, offering a more sustainable alternative for feeding the world's growing population.

Founder David McLellan emphasized the ethical benefits of Jooules' technology, stating, "Our ingredients-based protein will be nutritionally dense and resilient with major ethical benefits when you consider that we will be able to carbon capture emissions streams from other industries."

Jooules' gaseous fermentation technique utilizes ancient microbes to create protein from CO2 and hydrogen, foregoing the need for sugar-based feedstocks common in traditional fermentation processes. Early testing has shown promising results, with the company's proteins meeting the standards set by the UN Food and Agriculture Organization (FAO) for complete nutritional density.

Acknowledging the global significance of their innovation, McLellan highlighted Jooules' role in addressing scope 3 emissions associated with food supply chains. "We're excited to be powering the future of food from New Zealand to the world," he stated.

Sprout Agritech LP investment manager Warren Bebb expressed enthusiasm for Jooules' mission, describing their approach as a leap forward in addressing climate challenges while simultaneously producing valuable food resources.

Before entering the market, Jooules must secure approval from food safety authorities in target regions. While initially focusing on the Asia-Pacific market, the company aims to expand rapidly to other aligned markets.

One potential application of Jooules' protein is in aquaculture, where it could replace traditional feed sources such as krill and anchovies, thereby reducing pressure on marine ecosystems.

The emergence of Jooules reflects a growing trend in the gas protein space, with other innovators like Solar Foods, Kiverdi's Air Protein, and NovoNutrients making strides in this field. These developments underscore the potential for sustainable protein production to transform the food industry.

With support from Sprout Agritech LP and a clear vision for sustainable innovation, Jooules is poised to lead the charge in revolutionizing protein production and addressing global food security challenges.

greenqueen.com.hk