Former PepsiCo executive to serve as the CEO for the newly-launched company
Following a Series-A funding round that raised $90 million, Gingko Bioworks, an American biotechnology company, has reportedly announced the launch of a new alternative protein development company, Motif Ingredients.
As per trusted sources, major investors participating in the funding round included Louis Dreyfus Company, Viking Global Investors and Fonterra. The former SVP of Research & Development at PepsiCo, Jonathan McIntyre, has recently been appointed as the CEO of Motif Ingredients, added sources.
Gingko Bioworks, for the uninitiated, deploys genetic engineering for manufacturing products for the pharmaceutical, food and other different industries. With this funding round, Gingko’s bioengineering potential will be leveraged by Motif, which is expected to augment its expertise in developing alternative proteins as well as other ingredients for the global food companies. Motif is likely to employ biotechnology and fermentation, instead of animal agriculture, to engineer the proteins obtained from eggs, dairy and meat, with no compromise on the taste, nutrition and functionality of the animal-based ingredients.
Jonathan McIntyre was recently reported to say that two of the greatest challenges facing the food industry currently are accessible nutrition and sustainability. Although consumers have been demanding several mindful food options, there lies a reigning myth that plant-based, healthy foods that they cannot function or taste like the animal-based foods they try to replicate. McIntyre added that Motif will help propel the upcoming food revolution, making use of the accessible, sustainable and affordable ingredients that match the standards of visionary brands, chefs and food developers.
Apparently, with the rising popularity of alternative protein sources, consumers are modifying their consumption practices, keeping in mind the burgeoning environmental and ethical concerns. For the record, even food & beverage giant Nestle had announced plans earlier this year, to introduce the Incredible Burger, which is a plant-based, meat-free burger, and is determined to compete the other meat alternatives like the Beyond Burger and the Impossible Burger.