• Bolt Threads, the producer of mycelium-based material, “Mylo” announced a partnership with Netherlands-based mushroom material producer, Mycelium Materials Europe (MME), to produce Mylo at a commercial scale using the latter’s Dutch Shelf System technology.

• MME was reportedly the first to use the Dutch Shelf System technology to grow white button mushrooms in shelves. The system is now recognized worldwide as a superior method to grow mycelium mats that are up to 50x longer than that of conventional mycelium material produced. MME grows these sheets of mycelium at a controlled and mechanized mycelium production facility in the Netherlands. 

• The partnership is expected to support Bolt Threads in scaling up its production of Mylo in the range of millions of sq ft and at a cost that is competitive with other bio-based leather alternatives. 

Analyst QuickTake: Bolt Threads’ partnership with MME follows the company’s partnership with Lululemon last year and adds to the series of steps they have taken to scale the production of its Mylo material by the end of 2022. In 2020, Bolt Threads launched the “Mylo Consortium'' by partnering with brands such as Adidas, Stella McCartney, Lululemon, and Kering, who collectively invested in the company to support the production of Mylo.