Leaft Foods

Leaft Foods, founded in 2019 by John Penno and Maury Leyland Penno, is a New Zealand-based food technology company focused on extracting protein from green leaves. The founders, both with deep roots in New Zealand's dairy and agriculture sectors, were inspired to find more sustainable food production methods. John Penno, an agricultural scientist, previously co-founded and led Synlait Milk, while Maury Leyland Penno, an engineer, held senior roles at Fonterra and The Boston Consulting Group. Their journey with Leaft Foods began after attending a hackathon and a Stanford University innovation bootcamp, which sparked the idea of leveraging leaf protein, leading to initial experiments in their home kitchen.

The company has developed proprietary technology to extract Rubisco, the protein responsible for photosynthesis and the most abundant protein on Earth. This process transforms leafy crops, like lucerne, into a highly digestible, tasteless, and odorless protein powder or gel. The resulting Rubisco protein boasts a complete amino acid profile comparable to beef and egg protein, with a high digestibility score. This makes it a versatile ingredient for food companies to enhance the nutritional value of a wide range of products. Leaft Foods targets both direct-to-consumer and business-to-business markets, offering a sports supplement called 'Leaft Blade' online in New Zealand and the US, while also engaging with multinational food companies seeking a functional protein ingredient.

Leaft Foods' business model is designed as a circular system that integrates with existing agricultural practices. The company partners with farmers to grow leafy crops, providing them with a diversification opportunity. A key co-product of the protein extraction is a high-quality, reduced-protein animal feed. This feed is designed to increase animal performance while reducing nitrogen losses and greenhouse gas emissions from dairy and beef farming systems. The company has received significant financial backing, including a $15 million Series A round in 2022 led by Khosla Ventures, with participation from Ngāi Tahu Holdings, ACC’s Climate Change Impact Fund, and NBA player Steven Adams. Government support has also been provided through New Zealand's Ministry for Primary Industries and Callaghan Innovation.

Keywords: Rubisco protein, leaf protein concentrate, food technology, agritech, sustainable agriculture, alternative protein, plant-based protein, circular economy, food ingredients, animal feed co-product, New Zealand, John Penno, Maury Leyland Penno, Khosla Ventures, sustainable food systems, functional food ingredients, protein powder, food processing, agricultural innovation, low-carbon farming, nitrogen reduction