Lotte Central Research Institute and Mycel Sign Confidentiality Agreement on 'Mushroom Mycelium Alternative Meat Research'

On the 16th, Lee Kyung-hwon, head of Lotte Central Research Institute (left), and Sa Seong-jin, CEO of MyCell, are taking a commemorative photo at the confidentiality agreement signing ceremony.

[Asia Economy Reporter Seungjin Lee] Lotte Central Research Institute announced on the 19th that it has signed a Non-Disclosure Agreement (NDA) with Mycel for food commercialization research.

Through this NDA, the two companies plan to accelerate the development and research of food commercialization by utilizing Mycel's mushroom root (mycelium) fermentation technology to develop alternative meat at Lotte Central Research Institute.

Mycel is a company spun off through Hyundai Motor Company's in-house venture incubation. Since 2020, it has started as a bio-material company developing materials such as vehicle composites and fabrics based on eco-friendly mushroom mycelium. Currently, it is promoting industrial expansion in the eco-friendly material sector through technology development for the application of 'mycelium leather' products.

Through this NDA, Lotte Central Research Institute expects that Mycel's mycelium-based food materials will overcome the limitations of soy, which has been used as the main ingredient in existing alternative meats, targeting the growing demand in the alternative meat market.

Mycel's alternative meat realizes a texture close to real meat and can be produced as chunk-type food raw materials depending on the fermentation method. Additionally, by conducting strain development, fermentation, and processing all in the same location, it reduces the food value chain and can decrease carbon emissions and water footprint compared to conventional meat.

Lee Kyung-hwon, head of Lotte Central Research Institute, stated, "We will strive further to expand various eco-friendly brand products such as Lotte's Zero Meat and Miracle Burger through win-win cooperation with promising startups like Mycel."

Mycel CEO Sa Sung-jin expressed, "We hope that cooperation with Lotte will be the first step toward achieving carbon and water usage reduction and realizing a bio-based circular economy model through mycelium-based alternative materials."

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