The startup says that they offer an energy-efficient, secure and scalable alternative to soy protein concentrate
NoMy is a fermentation technology startup that’s transforming food industry side and waste streams into low-carbon, circular ingredients, using the power of fungi. Founded in 2020 and based in Oslo, NoMy currently collaborates with industry players and research organisations such as Skretting, SINTEF and the Norwegian Research Council to commercialise mycoprotein for feed applications, with a focus on aquaculture.
The company plans to grow into pilot scale and initial commercial scale over the next 6-12 months.
Tveteraas previously managed Nutreco’s investment portfolio across animal health, nutrition, precision farming, alternative aquaculture technology and alternative protein. At NoMy he has been tasked to support and de-risk NoMy’s growth.
Ingrid Dynna, CEO and co-founder of NoMy, said in a press release: “I’m delighted that Erik is joining the company at a pivotal moment. As a strategic CFO, he enhances our investor readiness and strengthens our ongoing development of symbiotic industry partnerships. His extensive knowledge of the feed industry, coupled with his vast experience in investments, impactful innovations, and partnerships, makes him the ideal choice to support NoMy in our long-term go-to-market strategy.".
Tveteraas added: “I’m excited to join NoMy at an important time in the company’s history, and a critical time for the society to deliver new sustainable protein solutions. Having tracked raw materials markets for years and evaluated dozens of alternative ingredient sources, NoMy stood out with clear differentiating features. The feed and farming industries need to adapt to maintain social acceptance. In NoMy I saw a credible business model for scale, cost and product quality that can complement the traditional raw material basket; delivering both low environmental impact and ‘local-for-local’ supply chain resiliency that I’m confident will help meet sustainability goals across the value chains we target”.
