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Promyc SIGNED

A circular fungi-based high-protein feed solution for aquaculture

Total Cost €

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EC-Contrib. €

0

Partnership

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 Promyc project word cloud

Explore the words cloud of the Promyc project. It provides you a very rough idea of what is the project "Promyc" about.

technologies    aquaculture    soybean    financial    rapid    decades    fungi    1bn    area    dried    nor    residual    additional    yeast    benign    projected    innovation    industry    peaked    scalable    grow    drives    gras    fungal    industries    meat    2016    upscaling    catch    capital    waste    se    demand    population    patented    sufficient    strains    farmed    formulations    content    fishmeal    solution    agriculture    successful    puts    70    feed    ftes    status    fda    19m    soybeans    farming    reaching    purely    extra    profitable    pressure    paper    turn    exodus    62    producers    161m    filamentous    2023    oatly    fish    global    pulp    last    2020    tons    safe    combat    40    circular    2024    revenues    brewers    listed    biological    income    2050    review    mit    swedish    poverty    streams    vegan    1st    sustainable    employing    sources    steepest    efficient    protein    massive    grew    replacement    food    companies    promyc    climate   

Project "Promyc" data sheet

The following table provides information about the project.

Coordinator
MYCORENA AB 

Organization address
address: STENA CENTER, HOLTERMANSGATAN 1
city: GOETEBORG
postcode: 411 29
website: n.a.

contact info
title: n.a.
name: n.a.
surname: n.a.
function: n.a.
email: n.a.
telephone: n.a.
fax: n.a.

 Coordinator Country Sweden [SE]
 Total cost 71˙429 €
 EC max contribution 50˙000 € (70%)
 Programme 1. H2020-EU.3. (PRIORITY 'Societal challenges)
2. H2020-EU.2.3. (INDUSTRIAL LEADERSHIP - Innovation In SMEs)
3. H2020-EU.2.1. (INDUSTRIAL LEADERSHIP - Leadership in enabling and industrial technologies)
 Code Call H2020-SMEInst-2018-2020-1
 Funding Scheme SME-1
 Starting year 2019
 Duration (year-month-day) from 2019-12-01   to  2020-04-30

 Partnership

Take a look of project's partnership.

# participants  country  role  EC contrib. [€] 
1    MYCORENA AB SE (GOETEBORG) coordinator 50˙000.00

Map

 Project objective

By 2050 the global demand for food will have increased by as much as 70% driven by the growing population & massive exodus from poverty. Food production is not a sustainable industry even today. Rapid income growth means increasing demand for meat & fish, which puts additional pressure on the food industry. Aquaculture (fish farming) has seen one of the steepest production increases in the last decades, as the global fish catch has peaked. This growth, in turn, drives the growth of the fish feed production—its global production grew by extra 161m tons in 2016 & projected to reach 1bn tons by 2020. Farmed fish require protein-rich feed as well. The most widely used sources today of protein are fishmeal, soybeans or dried brewers’ yeast. However, their protein content is low (~40%) & they are neither sustainable nor scalable. We have developed & patented purely biological circular process to grow filamentous fungi of various strains using residual waste streams from food, agriculture, pulp & paper as well as other industries. Our 1st result is Promyc—a sustainable & cost-effective replacement to protein from fishmeal & soybean for aquaculture feed formulations. It is rich in protein & vegan; it is produced via a fully sustainable, scalable, cost-efficient process. It is also safe—the fungal strains we use are benign & have the GRAS status of the US FDA. We are supported by major Swedish food innovation companies such as Oatly (SE) & other food producers. Our solution area is listed under 10 technologies that could combat climate change by the MIT Technology Review. Given sufficient financial capital & successful upscaling, we expect to be profitable in 2023, reaching ~€19m in revenues by 2024 & employing 62 FTEs.

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The information about "PROMYC" are provided by the European Opendata Portal: CORDIS opendata.

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