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Promyc SIGNED

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

Total Cost €

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EC-Contrib. €

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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.

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

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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