The Better Meat Co. (BMC), a California-based B2B supplier of mycoprotein, has received the FDA's "no questions" letter, confirming Generally Recognized as Safe (GRAS) status for its Rhiza mycoprotein. Moreover, the USDA has deemed Rhiza suitable and safe for inclusion in animal-based meat and poultry products, a first for any mycoprotein, according to BMC.

Rhiza mycoprotein, derived from the mycelium of the Neurospora crassa fungus, is a meat-like single ingredient that claims to contain all essential amino acids, more protein than eggs, and micronutrients like iron, zinc, and potassium. It is allergen-friendly and free from cholesterol, saturated fat, and trans fats. 

Analyst QuickTake: Recently, BMC announced a reduction of over 30% at scale in production costs for Rhiza mycoprotein, enabling the company to target price parity with commodity beef prices. This approval will likely open up new commercial opportunities for the company and allow it to expand its product collaborations, similar to the ones it has formed with Perdue Foods and Greenleaf Foods .