Next Gen Nutrition Makes Strategic Investment In Bonumose
Partners James Cali And Andrew Towle Join Bonumose As Co-Chief Growth Advisors
Next Gen Nutrition Investment Fund, LP (NGN) is pleased to announce a strategic investment in Bonumose LLC, which has developed and patented an enzymatic technology platform for continuous production of high-purity rare sugars – such as tagatose and allulose – from low-cost, plant-based feedstocks (starch). In addition, James Cali and Andrew Towle, NGN’s general partners, have joined Bonumose as Co-Chief Growth Advisors.
Bonumose’s mission is to “democratize nutritious sugar”. Bonumose CEO Ed Rogers said, “We created Bonumose as a new company in 2016 for the purpose of commercializing our enzymatic technology breakthrough to produce affordable, delicious, healthy tagatose. Since then, Bonumose has developed methods for producing additional affordable healthy sugars, such as allulose, allose, mannose, and inositol.”
Rare sugars have the potential to significantly disrupt the global sweetener market in both consumer and processed food applications. Bonumose’s lead products, tagatose and allulose, taste like sugar, have significantly fewer calories than normal sugar, have negligible glycemic index, are non-cariogenic and perform like normal sugar in major applications such as baking, confectionary, beverages and frozen desserts. These rare sugars are well known by the global food industry, but prior to Bonumose’s patented technology and process, they were never cost effective enough for widespread application.
In addition to their investment, Cali and Towle will use their deep knowledge of consumer-packaged foods to actively engage with Bonumose in several key areas, including helping Bonumose develop its global B2B business, and creating a consumer tabletop sweetener brand. In particular, they will focus on implementing a cohesive and engaging on-label messaging strategy for distribution partners and CPGs, highlighting the taste, functionality, and health benefits of tagatose and allulose.
“We are thrilled to have Andrew and James join the Bonumose team, both as investors and advisors,” said Ed Rogers, co-founder and CEO of Bonumose. “Their investment supports our scale-up to commercial-scale production for tagatose and allulose B2B distribution. They will help us grow the Bonumose business to its true potential, especially with their expertise on building brands both in the US and internationally.”
Cali and Towle launched NGN earlier this year to capitalize on high-growth, disruptive and early-stage food and beverage companies that offer superior nutrition with a reduced impact on the planet. Cali has a record of success in general management, sales and marketing, and innovation in leading food companies such as Cadbury, Kraft/Mondelez and Kellogg’s. Towle has spent his professional life in marketing and general management roles creating value for some of the world’s best-known CPG companies, including Procter & Gamble, Heinz, GeorgiaPacific and Kellogg’s.
“Bonumose offers a real disruptive breakthrough in the enormous global sweetener market,” said Cali. “Their patented technology enables low cost production of exotic sugars such as tagatose and allulose, making them affordable substitutes for regular sugar and high fructose corn syrup. This has the potential to dramatically improve the nutritional profile of thousands of everyday products.”
Towle added, “Bonumose perfectly fits the NGN investment thesis as a company that can dramatically improve nutrition in foods for an enormous number of people. But by using starch as the food stock, Bonumose also has a strong environmental impact by upcycling otherwise wasted food streams. Furthermore, Bonumose biproducts can also be used in other foods creating a true “circular economy” company.”
In addition to tagatose and allulose for the food industry, Cali and Towle will advise Bonumose on commercialization partnerships for new industries and revenue streams, including dietary supplements (mannose, inositol, tagatose), crop protection (tagatose and mannose), animal nutrition & health (mannose, inositol, tagatose), pharmaceuticals (allose, mannose), and feedstocks for plant-based biochemicals (fructose).
Bonumose is NGN’s sixth investment. NGN’s other investments include: Hart Dairy (the only Humane Certified® major dairy in the US to exclusively feature A2 protein cows that are free range and grass fed 365 days per year, www.hartdairy.com), Cusa Tea (maker of cold brewed instant tea, coffee and other beverages, www.cusatea.com), Bright Greens (frozen instant superfood smoothies, www.brightgreens.com) and Libre Naturals (allergen friendly snacks, www.librenaturals.com). NGN exited Northwest Nutritional Foods in early 2020, maker of macro-nutrient balanced snack bars (www.zingbars.com).
More About Bonumose
Bonumose is a start-up enzyme technology company based in Charlottesville, Virginia, and backed by global strategic investors and food/health-focused institutional investors. Bonumose developed and patented an enzymatic technology platform for continuous production of high-purity rare sugars – such as tagatose and allulose – from low-cost, plant-based feedstocks (starch). Bonumose’s cost-advantaged process will make possible the mass-market adoption of healthy, great-tasting, fully functional rare sugars. Furthermore, in addition to commodity starch, Bonumose’s process also can use by-product/side-stream starch left over from plant-based protein production such as pea protein and potato protein. Through global commercialization partnerships that will be announced in the near future, competitively priced tagatose and allulose will be available for food & beverage companies and consumers in 2021. Additional products and applications are in the development pipeline. Find Bonumose at www.bonumose.com.
About Next Gen Nutrition Investment Fund, LP
The Next Gen Nutrition Investment Fund invests in early and growth-stage companies in the food and beverage sector, focusing on businesses offering superior nutrition and a reduced impact to the planet, including branded food and beverages, food tech and superior food ingredients. As former consumer product executives with extensive experience in the food and beverage industry, the firm’s principals’ operational expertise will help these companies deliver superior business results and better returns for investors.