Swiss fermentation company Planetary is planning a collaboration with India’s Dhampur Bio Organics (DBO). The goal is to produce mycoprotein at industrial scale in India, below $1 per kilo.
Gautam Goel, Managing Director of DBO, said the partnership could allow DBO to export raw mycoprotein. It may also introduce India-specific products like mycoprotein-based protein fortification and myco-tikka masala.
Planetary operates a mycoprotein plant in Switzerland, co-located with a sugar mill. They plan to build a similar facility in India. Planetary’s platform uses sugar side streams, which are abundant. Low labor costs and integration with sugar mills make it cost-effective.
“The operation could be gross-margin positive almost immediately,” said cofounder David Brandes. Their Aarberg plant became operational nine months after equipment delivery. They aim to produce both frozen and shelf-stable mycoprotein products.
Planetary’s mycoprotein is based on Fusarium venenatum, a fungi strain with nearly global approval. They are also developing other strains. The setup is designed for rapid, profitable production.
Planetary’s business model focuses on selling mycoprotein ingredients and licensing their fermentation technology. They are expanding production and exploring new applications, from food to materials.
Mycoprotein is gaining traction as a versatile, nutritious, and sustainable protein source. It’s especially promising for hybrid meat products, which mix plant-based ingredients with animal meat.
Brands like Lidl and Aldi are already using Planetary’s mycoprotein in retail products. Aldi Suisse rolled out products made with Planetary’s mycoprotein at price parity with chicken.
Planetary has raised funds through seed rounds, investments, and grants. They also financed their current plant with non-dilutive debt.
Despite some industry setbacks, the plant-based and alternative protein market is expected to grow. Retailers’ commitments support this trend, making mycoprotein a key part of the future food landscape.
