Rhea-AI Summary
Millennium Foodtech Partnership announced that its portfolio company Phytolon (10.8% ownership) has secured a strategic investment from Rich Products Ventures (RPV). Phytolon produces natural food colors through precision fermentation, offering a sustainable alternative to synthetic dyes. The investment, supported by existing shareholders including EIT-Food and Arkin Holdings, will help commercialize Phytolon's products pending regulatory approvals. Rich's will explore implementing these natural colors in their bakery and dessert products. Phytolon's technology creates purple, pink, red, orange, and yellow color variants using proprietary yeast strains, providing a reliable and simplified solution for food manufacturers.
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