Edonia, a pioneering firm in the creation of protein components derived from microalgae such as spirulina and chlorella, has successfully completed an initial funding round, amassing €2 million. The investment drive was spearheaded by Asterion Ventures and further bolstered by contributions from BPI funds. This influx of capital is set to propel the company’s efforts to scale up its technology and bolster its research and development.
The company’s inception in 2023 heralded a significant advantage; being outside the confines of the “Novel Food” classification, which requires specific authorization in France and the EU, Edonia is poised to swiftly bring its products to market. The company’s initial foray will target the European market, with plans to rapidly extend its reach to other continents through strategic alliances.
“Amidst the pressing climate crisis, where the food sector is responsible for 34% of greenhouse gas emissions, there’s an urgent need to green our diets. Microalgae, celebrated for their nutritional and environmental benefits, stand as a potent tool for food industry professionals in this endeavor. However, the key is in the taste. We’re offering delicious, highly nutritious protein ingredients with minimal processing or pollutants,” stated Hugo Valentin, the Chief Executive Officer of Edonia.
Edonia has mastered a novel food technology known as “edonization,” which transforms microalgae biomass into a textured super ingredient endowed with a variety of organoleptic, nutritional, and environmental benefits. This innovation positions the company’s offerings as a formidable plant-based meat substitute, boasting nutritional superiority.
The challenge of desirability and palatability, which has long plagued microalgae products, is effectively addressed by edonization. The common market offerings, typically in powder form with a strong taste, often fail to appeal to consumers beyond the nutraceutical sphere.
Edo-1, Edonia’s flagship product, mimics the texture and flavor of ground beef without resorting to artificial flavoring or texturizing agents. Upon consumption, it offers a sensory experience remarkably similar to meat, instilling consumer confidence. Scientific studies have confirmed that Edo-1’s texture is more akin to that of ground meat than soy proteins are.
The product, which undergoes minimal processing, is rich in proteins, essential amino acids, vitamins, and minerals, surpassing the nutritional content of the meat it aims to replace. Its versatility allows for seamless integration into recipes and industrial processes. The quality of Edonia’s product has earned the approval of renowned R&D chef Laurent Sicre, whose culinary expertise is well-regarded by both food industry professionals and restaurateurs.
An Environmental Life Cycle Assessment conducted in collaboration with AgroParisTech revealed that Edonia’s product could potentially emit 40 times less CO2 compared to traditional ground meat and three times less than textured soy products. By replacing these materials with their innovative product, Edonia is on track to make a substantial positive environmental impact.
“Our investment in Edonia is rooted in the company’s ability to offer tangible solutions for a transition to more sustainable food options. With its pioneering technology, Edonia is on course to become a key player in the sustainable agri-food industry, aligning with France’s 2030 objectives,” added Marine Reygrobellet, Partner at Asterion Ventures and Board Member of Edonia.
