LEAFT FOODS YIELDS PROTEIN FROM THE WORLD'S MOST ABUNDANT SOURCE: LEAVES

Accelerates US expansion of plant protein with similar profile to beef with new investment from Khosla Ventures, NBA star Steven Adams

SAN FRANCISCO and CANTERBURY, New Zealand, April 7, 2022 /PRNewswire/ -- Alternative protein sources range from cell-based cultures to seeds from plants like oat, almond, soy and pea. Leaft Foods, however, is enabling the extraction of protein from the most abundant commodity of any plant - its leaves. On the back of this breakthrough, the company has raised a Series A round of $15M from Khosla Ventures, NBA star Steven Adams, New Zealand indigenous investor Ngāi Tahu and sovereign health provider ACC via their Climate Change Impact Fund. The new funding will be used to build out R&D, growth, and create a global value chain starting with the United States.

"At Khosla, we are all about investing in technologies that are bold and impactful," said Alice Brooks of Khosla Ventures. "We are excited to be an early investor in Leaft and to work together with the team as they bring in a new era of agriculture and a shift in the way sustainable food is produced at scale."

Every plant uses "RuBisCo" (ribulose-1,5-bisphosphate carboxylase-oxygenase) as part of its photosynthesis process, making it the most plentiful protein on earth. Leaft Foods enables the extraction of RuBisCo, resulting in a protein that is as good as any animal protein with the same digestibility, while also being allergen-free.

Co-founder Maury Leyland Penno says: "We're reimagining how we make food and this could be a pathway to rapidly decarbonise by allowing farmers to farm in partnership with nature, creating a new approach to regenerative agriculture."

Harnessing a plant protein from leaves that acts like animal protein - and has a similar amino acid profile to beef - provides the potential to use less than 2  percent of the current agricultural land around the world to feed the population.

"Nature's biggest animals - elephants, buffalo and cattle - are all herbivores who have evolved to digest protein in leaves, especially with the latter two having multiple stomachs. But while it's trapped inside a plant cell, it's hard for humans to eat enough leaves for a sufficient serving of protein, let alone digest all of that plant matter," said Co-founder Dr. John Penno.

"Our technology forges a new way to tap plant protein that is tasty, nutritious, scalable and accessible for everyone. It's truly transformational."

NBA Memphis Grizzlies star, New Zealander, and active impact investor Steven Adams adds, "Hey team, when are you going to deliver me a plant protein that doesn't taste like sh*t and give me gas?"

For more information, visit the Leaft Foods website and download the press kit here.

About Leaft Foods
Founded in 2019 by John and Maury Leyland Penno, who started by growing and testing different protein sources in their home farm kitchen, Leaft Foods has proven viability across New Zealand's pasture-based agricultural economy. From its headquarters in New Zealand, Leaft Foods is now expanding its global product development, starting with the United States, backed by Khosla Ventures, Memphis Grizzlies NBA player Steven Adams, as well as New Zealand-based investors that include indigenous investors Ngāi Tahu, and ACC's Climate Change Impact Fund.

Media contacts
United States: Consort Partners for Leaft Foods: [email protected]
New Zealand: Lana Kennett: [email protected]

SOURCE Leaft Foods