EvodiaBio nets US$6.4M to produce non-alcoholic beer aromas using precision fermentation
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04 Jan 2023 --- Danish aroma company, EvodiaBio, has secured US$6.4 million in a capital raise as part of its strategy to become a key global industry player in sustainable aroma production for the food and beverage industry. Non-alcoholic beer is the first segment that EvodiaBio will address.
EvodiaBio recently introduced a technology platform that uses precision fermentation to produce sustainable aromas.
EvodiaBio, founded 18 months ago, received 14 million kroner (US$1.4 million) in financial support from the BioInnovation Institute, a Danish accelerator funded by the Novo Nordisk Foundation. The remaining 31 million kroner (US$3.1 million) stem from several international industry players, including the German flavor house Symrise which steps in as a strategic investor, and Nordic Foodtech as the lead investor.
The company has secured 45 million kroner (US$4.5 million) in additional funding, equaling approximately US$6.4 million.
Sustainable brewing solutions
According to Elleholm, getting the taste of the beer right has been “a major challenge for the brewing industry.”
Non-alcoholic beer is the first segment that EvodiaBio will address.The company’s newly developed aroma blend, called Yops, can improve the taste of non-alcoholic beer and serves as a sustainable alternative to cultivated aroma hops.
In the long term, the bio-industrial company will develop aromas for other beverages, perfumes and various segments.
EvodiaBio’s monoterpenoid aromas are produced using yeast cells that secrete the individual aroma components and are then combined to mimic the aroma profiles of different hops.
The company states that the result is a natural, pure, and sustainable product. The technology has been developed after years of research by the scientific co-founders, Prof. Sotirios Kampranis, Dr. Simon Dusséaux and Dr. Victor Forman.
Last February, FoodIngredientsFirst reported that Kampranis and Dusséaux made a breakthrough in making non-alcoholic beer full of hop aroma. The research came amid rising trends in low- and no-alcohol beers and other beverages, as global consumers, especially younger generations, edge toward healthy lifestyles that do not necessarily include the levels of alcohol consumption seen by previous generations.
EvodiaBio’s approach enables a cost-effective and sustainable biotechnological production of the volatile aroma molecules from hops.
Using EvodiaBio’s solution, the brewer avoids depleting limited plant resources, while water and CO2 emissions are reduced by more than 90%.
The next step in EvodiaBio’s plans is the establishment of the company’s own offices, laboratories, and pilot production in Denmark. They are now preparing for the launch of Yops in 2023.
Jarne Elleholm, co-founder and chairman of EvodiaBio, sees the capital raise as a “crucial step in reaching the company’s ambitions.”
“Our vision is to create a sustainable, global company within the development, production, and commercialization of natural aromatic substances, and this funding is our opportunity to realize this vision. The funding was made possible by support from the BioInnovation Institute and by the great progress we have made during our only one-and-a-half-year lifetime,” Elleholm explains.
A shared vision
German flavor and fragrance-producer Symrise looks forward to future collaboration, and the companies’ shared vision has contributed to Symrise’s investment.
“We share the same vision for a greener future, and the precision fermentation technology developed by the team will greatly contribute to a more sustainable flavor and fragrance industry, starting with non-alcoholic beer applications and with the potential to go much further,” says Nick Russell, SVP Business Incubation Group at Symrise.
Securing essential nutrition
Recently appointed board member of EvodiaBio, Flemming Besenbacher, also sees the news highly positively. 
EvodiaBio recently introduced a technology platform that uses precision fermentation to produce sustainable aromas for F&B.
“As former chairman of Carlsberg, I see huge opportunities for our company now that our financing is secured. EvodiaBio is a promising project that solves an industry challenge, which I excitedly have been involved in solving. I look forward to being part of the further developments we are beginning now,” he explains.
Founder and partner of Nordic Foodtech, Lauri Reuter, says “a better food system is not only about securing essential nutrition, but also providing the aroma and sensory experiences we love – without depleting scarce resources.”
The EvodiaBio team has discovered “an elegant solution to a difficult bottleneck in the sustainable production of aroma compounds. They are passionately building a sustainable future that tastes great,” Reuter comments.
Edited by Elizabeth Green
