Nutreco veteran Erik Tveteraas joins Norwegian fungi-for-feed startup NoMy as CFO

NORWAY – Erik Tveteraas, a seasoned leader from Nutreco, has been appointed as the Chief Financial Officer (CFO) of Norwegian Mycelium (NoMy), a fermentation technology startup that transforms food industry side and waste streams into low-carbon, circular ingredients using fungi. 

The announcement marks a significant step for NoMy as the company moves toward scaling its innovative feed solutions, particularly for the aquaculture industry.

Tveteraas, who previously led Nutreco’s strategic investment and innovation arm, NuFrontiers, brings a wealth of experience in animal health, nutrition, and alternative protein technologies. 

During his tenure at Nutreco, he managed a diverse portfolio of investments, driving impactful innovations and strategic partnerships across the feed and farming industries. 

His transition to NoMy is pivotal for the startup as it prepares to advance from its current research collaborations to pilot and initial commercial-scale production within the next 6 to 12 months.

NoMy, founded in 2020 and headquartered in Oslo, has been at the forefront of developing mycoprotein for feed applications, focusing on aquaculture. 

The startup collaborates with key industry players such as Skretting, SINTEF, and the Norwegian Research Council to commercialise its fungi-based protein as a sustainable alternative to soy protein concentrate in salmon feeds. 

NoMy’s technology offers an energy-efficient, secure, and scalable solution that addresses the growing need for low-carbon ingredients in the feed industry.

In a press release, NoMy’s CEO and co-founder, Ingrid Dynna, expressed her enthusiasm for Tveteraas joining the team, stating, “I’m delighted that Erik is joining the company at a pivotal moment. As a strategic CFO, he enhances investor readiness and strengthens our ongoing development of symbiotic industry partnerships. His extensive knowledge of the feed industry and his vast experience in investments, impactful innovations, and partnerships make him the ideal choice to support NoMy in our long-term go-to-market strategy.”

Tveteraas is excited about the new role, commenting that he is excited to join NoMy at an important time in the company’s history, and a critical time for society to deliver new sustainable protein solutions. 

Having tracked raw materials markets for years and evaluated dozens of alternative ingredient sources, NoMy stands out with apparent differentiating features, with the feed and farming industries need to adapt to maintain social acceptance. 

“In NoMy, I saw a credible business model for scale, cost, and product quality that can complement the traditional raw material basket, delivering both low environmental impact and ‘local-for-local’ supply chain resiliency that I’m confident will help meet sustainability goals across the value chains we target.”

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