MycoWorks Secures Strategic Investment from GM Ventures to Develop Fine Mycelium Materials for Sustainable Automotive

MycoWorks Secures Strategic Investment from GM Ventures to Develop Fine Mycelium Materials for Sustainable Automotive Interiors

The General Motors Co. investment arm, GM Ventures, and the biotechnology startup MycoWorks today announced a long-term partnership to jointly develop Fine MyceliumTM materials for possible usage in a variety of vehicle design applications. The partnership between MycoWorks and GM represents an investigation into its entry into one of the major end-use industries for leather and highlights the tremendous possibilities to produce more environmentally friendly materials for the automobile industry.

MycoWorks’ ground-breaking Fine Mycelium technology creates natural, adaptable leather substitutes that equal the performance of the best-grade animal leather while having a less negative impact on the environment. Mycelium is the endlessly renewed root structure of mushrooms. The company’s technology has made it possible for a new category of high-end, non-animal materials, which may help GM continue its progress toward its goal of a future with zero collisions, zero emissions, and zero congestion.

Fine Mycelium, which is free of animals and chrome and has superior strength at low thicknesses, satisfies the most exacting performance, aesthetic, and environmental standards of the automotive industry while still providing a compelling path to increased efficiency and weight reduction in interior car components.

Working with General Motors to introduce Fine Mycelium to the automotive industry is an enormous step forward in the global new materials revolution. MycoWorks’s collaboration with GM is a first for us outside of the fashion industry, demonstrating the enormous potential and applications for Fine Mycelium.”

Matt Scullin, CEO of MycoWorks

Wade Sheffer, managing director of GM Ventures, stated that “our strategic investment in MycoWorks intends to promote the development of sustainable automotive materials.” This partnership will make it easier to conduct research and development and provide greener options for our designers.

Following a $125 million Series C funding round that was oversubscribed, MycoWorks began construction on its first full-scale production facility in August 2022. This facility will allow for the initial mass production of several million square feet of Fine Mycelium materials annually, significantly increase production and partnership capacity, and provide service for Fine Mycelium to a wider range of businesses and industries.

About MycoWorks

MycoWorks, a biomaterials business established in San Francisco with the goal of introducing novel mycelium materials to the world, was founded in 2013 by co-founders Philip Ross and Sophia Wang. A breakthrough in materials science and an advanced production platform, MycoWorks’ patented Fine Mycelium technology designs mycelium during growth to build unique, interconnecting cellular structures for unmatched strength and endurance.

About General Motors

General motors is a global organization zeroed in on propelling an all-electric future that is comprehensive and open to all. At the core of this system is the Ultium battery stage, which powers all that from mass-market to superior execution vehicles. General Engines, its auxiliaries, and its joint endeavor elements sell vehicles under the Chevrolet, Buick, GMC, Cadillac, Baojun, and Wuling brands.

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