Microalgae protein start-up bags $25m funding

A new round of investment will allow Israel-based climate food tech innovator Brevel the resource to accelerate its go-to-market strategy, as well as enabling the development of microalgae proteins for multiple food and beverage applications.

The additional $5m brings the start-up’s investments to $25m. NevaTeam Partners, Siddhi Capital, European Union’s EIC Fund, Good Protein Fund, The Food Tech Lab and PVS Investments all hold shares in the business.

Microalgae protein price parity

“Our vision as a climate food-tech start up is to reduce the carbon footprint to minimum by developing affordable, flavour-neutral flavoured and functional microalgae protein at global scales for consumers. It ticks all the boxes: it’s good for the people, good for our customers, and good for the planet,” said Brevel CEO and co-founder Yonatan Golan.

Following previous investments, Brevel has opened a “first-of-a-kind” factory, allowing it to scale-up its technology and reach production volumes of 5,000l.

Brevel’s technology cultivates microalgae by combining light with sugar-based fermentation in indoor bioreactors. This allows for the efficient production of nutrient-rich microalgae in large volumes, but without the need for genetic modifications.

The business’s downstream process delivers a white, flavourless microalgae protein isolate powder that can be integrated into meat and dairy alternatives as a functional ingredient.

The use of microalgae protein

Brevel claims the ingredient has strong emulsifying, gelling, and foaming properties.

“Our business model is similar to that of soy protein,” expolains Golan. “The revenue must come from the co-products just as with soy and meat products. Our combined light and fermentation platform allows us to capitalize on all of the components of the microalgae and not just the protein portion.”

Brevel’s fermentation process is said to reduce costs, while the light system in its technology allows for higher bottom-line results as, in addition to protein, the process creates functional oil with “potent emulsifying” properties.