Chromologics and Olon Group Announce Partnership
Copenhagen, Denmark
May 2024
Olon Group, a global leader in food biomanufacturing and development, and Chromologics, a Danish biotech company specializing in innovative natural food colors, announced today their ongoing partnership aimed at leveraging Olon’s extensive fermentation infrastructure to manufacture Chromologics'
cutting-edge products.
Chromologics, a Danish biotech company specializing in the production of innovative natural food colors, and Olon Group, a global leader in food biomanufacturing and development, today announced an ongoing partnership to leverage Olon’s vast fermentation infrastructure to manufacture Chromologics products. Olon and Chromologics established this partnership to leverage Olon’s fermentation sites across Italy. Chromologics are going to revolutionize the natural food color market by selling a natural red color to enable food manufacturers in the US and EU to replace synthetic or unstable natural colors.
Olon Group will play a pivotal role as a Contract Development and Manufacturing Organization (CDMO), scaling Chromologics’ biomanufacturing processes and focusing on the production of natural colors for the food and beverage industry.
“Olon Biotech has over 50 years of experience in providing high-quality fermentation manufacturing services,” commented Andrea Conforto, VP CDMO of Olon Biotech. “Our global footprint has positioned us as one of the leading companies in microbial fermentation for third parties in Europe, supported by our significant fermentation capacity of 5,000m³. Over the last three years, we have invested more than 130 million euros in our Biotech Centers, significantly enhancing our capacity and sustainability. We are truly delighted that these efforts are contributing to the success of such a promising project in partnership with Chromologics.”
Karsten Dinesen, COO of Chromologics, added, “It has been essential for Chromologics to find a CDMO capable of ensuring the quality of our final product and rapidly scaling our production capacity to meet the global demand for natural colors. Olon has met these requirements and demonstrated exceptional dedication and professionalism in implementing our novel technology.”
This partnership signifies a new chapter of innovation and growth for both Chromologics and Olon Biotech. Together, they are poised to drive positive change, deliver exceptional products, and make a lasting impact in the industry.
About Chromologics
Chromologics is a Danish biotech company specializing in the production of innovative natural food colors. Committed to revolutionizing the natural food color market, Chromologics develops stable and high-quality alternatives to synthetic colors, catering to the global food and beverage industry.
About Olon Group
Olon Group is a global leader in food biomanufacturing and development, known for its extensive experience in microbial fermentation. With over 60 years of industry expertise and significant investments in its Biotech Centers, Olon continues to lead the way in providing sustainable and high-quality fermentation manufacturing services.
Closure of an investment round
Copenhagen, Denmark
March 2023
Chromologics raises additional funding, bringing the series seed to a total of EUR 12.6 M, and welcomes two new investors Doehler Ventures and Thia Ventures. The proceeds of EUR 7.1 M will be used to accelerate the commercialization of the first product, the natural red food color Natu.Red® provides attractive
advantages for both consumers and food manufacturers.
Chromologics, the Danish biotech company specializing in production of innovative natural food colors, today announced the successful closure of an extended seed round. The company raised an additional EUR 7.1 million in equity from its existing investors plus two new investors.
“We are thrilled to be able to accelerate our commercial development and welcome two new, strong investors, Doehler Ventures and Thia Ventures,” said Gerit Tolborg, CEO of Chromologics. “In particular, Doehler’s formal investment marks a new phase in our collaboration. We look forward to benefiting from their expertise as we begin developing commercial-scale production.”
Chromologics’ proprietary fermentation production method is environment-friendly, stable, and can ensure a cost competitive and sustainable supply to food and beverage manufacturers. Natu.Red®, the first product in the pipeline, is pH- and temperature stable, tasteless, water soluble, and vegan.
The co-founders, CEO Gerit Tolborg and CTO Anders Ødum, discovered this novel molecule and have over the last 5 years built Chromologics from a university spin-out to a company with own lab and pilot production facilities.
“Chromologics has convincingly demonstrated that, Natu.Red® is an attractive and sustainable alternative to existing synthetic and natural food colors. It is great to see growing international interest and validation of the company not just from investors but also from strategic partners, and a growing number of potential customers. The successful scale-up and production of the first several hundred kilograms of Natu.Red®, as well as the line of sight for regulatory approval calls for accelerating the commercial development.
The newly established Bioindustrials team at Novo Holdings has been established to support such a growth journey,” said Thomas Grotkjær, Partner at Novo Holdings, Chromologics’ largest investor.
“We look forward to supporting Chromologics as they develop and bring to market a range of natural food colors using their precision fermentation platform. We see a competitive advantage in this type of sustainable natural ingredient,” says Rodrigo Hortega at Doehler Ventures, the investment arm of global natural ingredients supplier, Doehler Group. “The timing is right, and we are prepared to offer the full network and know-how of the Doehler Group,” he added.
Chromologics’ has demonstrated scalability of their fermentation process to industrial scale, built a strong network of potential customers, and began their regulatory approval program. Early results indicate cost-effective production, excellent product performance, and safe use of Natu.Red® as a novel food additive.
During the coming funding period Chromologics will further advance regulatory approval, establish a commercial production line, expand the portfolio towards additional colors, and progress on commercial execution.
“This is an exciting time for Chromologics. The team has developed, grown their skillset, and added new expertise. They are well equipped and ready for the next stage of their journey towards commercial success,” said Jarne Ellehollm, Chairman of the Board.
See here for synopses of investors Novo Holdings, Nordic Foodtech VC, Danmarks Eksport- og Investeringsfond, Thia Ventures, Doehler Ventures, Synergetic and Blue Horizon.
ABOUT CHROMOLOGICS
Chromologics is a Danish company founded in 2017 with a precision fermentation platform to produce natural food colors. Our proprietary fermentation process allows us to produce natural colors that are sustainable, scalable, and cost-competitive while being compatible with most dietary needs, including kosher, halal, and vegan diets.
ABOUT DOEHLER
Doehler is a global producer, marketer and provider of technology-driven natural ingredients, ingredient systems and integrated solutions for the global food, beverage, and nutrition industry. Doehler is all about mastering multi- sensory performance and nutrition. Being Sustainable by nature®, we help to nourish the world better – good for people, good for planet®.
All our ingredients are derived from natural raw materials. Doehler’s comprehensive product portfolio of natural ingredients ranges from natural flavors, natural colors, natural health ingredients, a broad range of plant-based ingredients to ingredient systems and end-to-end solutions. Focused on science, technology and innovation, we shape the future of nutrition.
