INCJ and Mitsubishi invest in Tavelmout

Innovation Network Corporation of Japan (INCJ) and Mitsubishi have jointly invested in micro-algae protein production company Tavelmout.

The combined investment of JPY1.7bn ($15m) is expected to contribute towards the diversification of sustainable protein sources to meet growing food demands worldwide.

The Chitose Group initially established Tavelmout in 2014 in order to develop cultivation technologies and new applications for spirulina with regards to its commercial production and marketing.

Spirulina is a type of micro-algae characterised by its high protein content and nutritional value, which often figures highly among substances regarded as ‘big superfoods’.

INCJ and Mitsubishi are set to join Tavelmout as new shareholders following the capital increase and will each own a 31.43% stake in the company.

Tavelmout plans to use the procured funds to construct a new production site in Brunei.

The partnership intends to address the global rising demand for protein through the mass marketing of spirulina.

Spirulina contains more than 60 kinds of nutrients and is distinct among micro-algal species due to its high protein content, which makes up roughly 65% of its dry weight.

It is typically used as a health food in the form of dry powder or tablet.

Tavelmout has also devised a new technology to process spirulina biomass and developed ‘Raw Spirulina’, which makes full use of the micro-algae’s characteristics.

Tasteless and odourless raw spirulina are currently being produced and commercialised via new cultivation technologies that have been developed by Chitose Group’s research entity Chitose Laboratory.

Tokyo-based INCJ is primarily engaged in the provision of financial, technological and management support for next-generation businesses.