Israeli fermentation company Brevel announces it has closed an $18.5 million seed funding round to produce and launch into the market its microalgae-based proteins suitable for F&B plant-based applications.
Established in 2016 by three brothers, Yonatan (CEO), Matan (COO), and Ido Golan (CTO), Brevel has developed a sugar-based fermentation tech that uses microalgae and light in industrial-scale systems to produce sustainable and functional proteins without using agricultural land.
NevaTeam Partners and the European Union’s EIC Fund backed Brevel in this round. Other participants included leading food and climate funds and strategic partners from the food industry. Brevel’s seed funding includes $8.4 million converted from grants and convertible loans into shares. In June 2022, Brevel received funding from the EU’s Horizon 2020 program and Israel’s Innovation Authority in the form of non-dilutive grants.
“This substantial funding round will fuel Brevel’s journey forward and pave the way for our vision of sustainable nutrition for the future of our planet to materialize. We are primed and ready for our next major leap – the global scale production of Brevel’s protein that will be integrated into healthier, tastier, and environmentally-friendly food products in every household,” comments Yonatan.
Brevel has been operating a large-scale 500 L pilot and has announced plans to launch its protein production at a commercial-scale factory. The new plant will feature the first-of-its-kind 5000 L fermentation and light system. A total capacity of 900,000 L is set to be finished by 2025.
Brevel produces at cost parity with protein, such as peas and soy. But since its advantageous tech creates proteins and coproducts such as fats, colors, and more, Brevel attains almost triple the profitability from the same microalgae.
Regarding sustainability, the food tech claims its process has the minimum environmental footprint possible since it does not require arable land, recycles 100% of the water, and uses on-site clean energy. Furthermore, it can be installed anywhere, unaffected by weather conditions, climate change, and seasonal variations. The company’s manufacturing systems and biological processes have been designed and built in-house, says Brevel.
Brevel is piloting with various manufacturers to develop plant-based food applications, primarily plant-based dairy products. Brevel’s ingredients can solve the flavor, protein, and color challenges of this category that depends on soy or other strongly flavored proteins to enhance the nutritional content of cheese, yogurts, and creams.
For example, Vgarden and Brevel have been collaborating to develop a new category of high-protein plant-based cheese, confident that they will revolutionize the industry. The first products incorporating Brevel’s protein are expected to will hit shelves in 2024.
“We believe that Brevel’s innovative technology enables the cost-efficient production of high-quality protein extracted from microalgae, which is crucial for the future of sustainable food production,” Said Shai Levy, managing partner at NevaTeam Partners, who will also be joining Brevel’s board.dairy products cheese soy microalgae protein plant-based fermentation shares funding fund industry