Epogee will use this investment to expand current manufacturing and accelerate technical capabilities to support customers.
Epogee's extensively-patented technologies enable its products to safely and substantially reduce calories from fat by up to 92% without impacting food taste, texture, or appearance. More than 60 studies across a wide range of food applications validate Epogee's safety, efficacy, and unique value proposition. The data supporting Epogee safety has among the strongest technical record ever developed for a new food ingredient. Epogee is Kosher, gluten free, allergen free, vegan, and made from natural vegetable oils free from genetically modified materials.
"We are excited to partner with HG Ventures in our next go-to-market phase," said John Musselman, CEO of Epogee. "While it is clear HG Ventures' capital is fully behind us, we know they can bring a lot more to the table to help us expand our operations and product offerings."
Epogee has achieved FDA Generally Recognized as Safe (GRAS) status in for use in confectionery products, frying, baked goods and baking mixes, frozen desserts and mixes, nut products (including peanut butter), grain products, pasta, granola and snack bars, sauces and gravies, and soft candy.
"Epogee has developed an incredible product that has the potential to dramatically change the food industry," said Kip Frey, Managing Partner of HG Ventures and EVP of HG Ventures' parent company, The Heritage Group. "The investment in Epogee builds on our relationships in food innovation and exemplifies HG Ventures' commitment to investing in emerging companies commercializing advanced material technologies."