Why We Invested in Algae Cooking Club, a Cutting-Edge Cooking Oil for Curious Gourmands
Since Joyance Partners invests in companies that use science and tech to improve the way we live, we’re thrilled to announce our investment in Algae Cooking Club. This highly innovative food/biotech company just launched a completely novel cooking oil with first-of-its-kind health and sustainability benefits, thereby creating an entirely new category in cooking.
Food represents nutrition, pleasure, and health, and much like food is fundamental to our health and happiness, oil is fundamental to cooking. ACC’s initial product is basic algae oil that can be used as a replacement for olive, canola, avocado, and any other cooking oil. The production process — utilizing sugar to ferment algae — is the most planet-friendly on the market, utilizing less CO2, land, and water than any other product. The smoke point — 535 degrees F (279C) — is the highest of any of its competition and the product is completely flavorless, which allows for the taste of the ingredients to shine through, making it the most chef-friendly on the market. To top it off, the oil also has significant health benefits, with an excellent ratio of oleic to linoleic acid; high amounts of Omega 9 and Omega 3, which have been shown to reduce inflammation, lower triglycerides, and slow plaque buildup in blood vessels; and 75% less saturated fat than olive and avocado oils, it is also the healthiest option on the market.
The team is expertly led by CEO Kas Saidi, whose impressive background includes running brands for Pernod Ricard, a large piece of business development for Twitter, helping to launch Stache (a pistachio milk brand), and a brief stint at Impossible Foods. He has deep knowledge of the cooking oil market and a clear and well-developed understanding of how to launch a successful product. The brand was developed in partnership with Squared Circles, a venture studio designed to launch consumer brands by utilizing existing industrial technology for consumer goods.
Through robust research, ACC has identified a core go-to-market group of what they call “Curious Gourmands.” This group is comprised of approximately 65 million Americans, 91% of whom actively seek out new ingredients to use while cooking. A key component of this strategy is a partnership with a company run by Chef Daniel Humm of 11 Madison Park, which will provide significant amounts of promotional content like cooking videos, tasting groups, and in-person events to showcase the product’s unique properties. Expanison plans include infusing the algae oil with flavors like chili, basil, and mushroom.
By utilizing science to create a novel product that is healthier for humanity, better for the planet, and that makes chefs happier than any other current option, ACC is an excellent fit for Joyance’s thesis. We’re thrilled to support a brand introducing a first-of-its-kind ingredient poised to revolutionize the cooking oil category.
By Investment Partner Thibault Vanvincq
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