February 6, 2024

 

Startup firm EVERY Company to collaborate with multinational food giants in 2024

The EVERY Company, a pioneer in alternative egg protein production through precision fermentation, has announced plans to collaborate with multinational food corporations later this year, AgFunderNews reported.

 

The startup, originally named Clara Foods, has secured US$233 million in funding to date, setting the stage for an expansion in manufacturing capabilities to meet rising demand.

 

Founded in 2014 by Arturo Elizondo and David Anchel, The EVERY Company has garnered attention for its innovative approach to producing egg proteins. While the funding it received is substantial, it falls short of the staggering US$840 million raised by Perfect Day for its animal-free dairy venture.

 

According to Arturo Elizondo, the CEO of The EVERY Company, the focus in 2024 is on scaling up manufacturing capacity and introducing products to the market. The company plans to onboard multinational partners for its EVERY Protein and EVERY Egg White offerings before venturing into foodservice with the EVERY Egg, a liquid whole egg substitute.

 

The startup's fermentation process engineers yeast strains to express egg proteins, providing a sustainable and scalable solution. The company has received favourable responses from the US FDA regarding the safety of its proteins. The engineered yeast is removed during the filtration process, ensuring the final products comply with US labelling laws.

 

The EVERY Company has developed four ingredients. These include EVERY Protein: A highly soluble, nearly invisible protein bio-identical to ovomucoid, a glycoprotein found in egg white, enabling the creation of protein-boosted beverages and food products with a neutral sensory profile; EVERY Egg White: A 1-to-1 egg white replacement containing functional properties such as aeration, whipping, gelling, binding, and foam stability; EVERY Egg: A liquid whole egg substitute designed to match the functionality and sensory experience of eggs, catering to companies seeking alternatives to traditional eggs; and EVERY Pepsin: An animal-free pepsin, an enzyme traditionally sourced from swine stomachs, offering higher quality, purity, and consistent sourcing.

 

The company's focus on functionality rather than the vegan angle has resonated with companies looking for stable and premium alternatives to conventional eggs. The rise of avian flu has been a significant driver for companies seeking peace of mind in their supply chains, making The EVERY Company's offerings attractive to those looking for stability and reliability.

 

Elizondo acknowledged that the current cost of production doesn't compete with the cheapest eggs but emphasises the company's commitment to achieving cost competitiveness as it scales. The EVERY Company sees itself as a valuable hedge for companies facing challenges in conventional egg supply chains, providing stability and peace of mind.

 

The EVERY Company collaborates with several contract manufacturers, mainly overseas, leveraging their expertise and existing infrastructure. The partnership with AB InBev, initially a joint development venture, is exploring large-scale production possibilities for EVERY Company's proteins and yeast.

 

-        AgFunderNews