Oman Investment Authority Forms Vital Foods Technologies with Dreams of Mushroom Tech

Posted on 02/21/2022


The Oman Investment Authority (OIA) signed an agreement to establish a firm called Vital Foods Technologies that will produce alternative protein utilizing Omani dates. OIA signed the deal with MycoTechnology, Inc. Vital Foods Technologies will produce mushroom-based protein using dates as the main element, in collaboration with international partners, predominantly MycoTechnology. OIA is trying to enhance food security, while diversifying its economy. Date farming is of great economic and social importance in Oman. The Oman Sultanate produces around 400 million metric tons of dates per annum. Oman is the 8th largest producer of dates in the world.

OIA earlier invested in MycoTechnology. Founded in 2013 and based in Aurora, Colorado, MycoTechnology is harvesting the power of mushrooms to improve the taste, value, and nutrition of ingredients.

Mushroom Fermentation
On June 11, 2020, MycoTechnology raised US$ 39 million in a Series D funding round with the participation of Greenleaf Foods, Tyson Ventures, Kellogg’s investment arm (Eighteen94 Capital), and S2G Ventures (part of Lukas Walton’s Builders Vision), among others.

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