New Zealand's Jooules takes steps towards commercializing groundbreaking protein tech

A New Zealand alt-protein startup, Jooules, has secured NZ$1 million in funding from Sprout Agritech LP to advance its innovative gaseous fermentation technology towards commercialization. The funding will be used to expand their team of technical specialists. Jooules is also collaborating with government research institute SCION, utilizing their specialized equipment to accelerate product development.

Jooules' production method boasts a significantly reduced environmental footprint, requiring an estimated 600 times less water and 99% less land compared to conventional protein production. Notably, Jooules claims to be the sole New Zealand company harnessing microbes to produce high-quality protein ingredients from CO2 on a potentially large scale.

David McLellan, Founder of Jooules, has outlined the company's vision: to revolutionize the future of protein by transforming CO2 emissions into valuable protein-based ingredients.

"Through lab trials, we've successfully demonstrated the potential of harnessing ancient microbes via gaseous fermentation to produce functional, food-grade protein from carbon dioxide," McLellan explained. "Our resulting protein ingredients will be not only nutritionally dense and adaptable but also ethically advantageous, considering our ability to capture carbon emissions from other industries."

This investment marks the seventh NZ$1 million venture for Sprout, partnering with US-based Finistere Ventures, dairy giant Fonterra from New Zealand, venture builder OurCrowd, and Callaghan Innovation's Deep Tech Incubator program, which supports the commercialization of early-stage deep tech companies in New Zealand.

The Asia-Pacific region is Jooules' initial target market, with plans to launch their ingredient following regulatory approval as a "novel food" within the next fiscal year.