Zurich, November 19th, 2025 – At Collateral Good, we invest in solutions that quietly but meaningfully reshape the systems we rely on. Sometimes that means placing a bet on a new category. And sometimes it means returning to a team whose progress has only strengthened our conviction.

Our participation in Chromologics’ latest EUR 7M seed extension marks exactly that: our second investment in a company developing a fundamentally better way to produce natural food colours.

Why we believed early, and still do

Food colour is one of those invisible ingredients that touches almost everything but rarely gets attention. Behind the scenes, the industry has long wrestled with major constraints: synthetic colours under regulatory and consumer pressure, and plant-based pigments that are resource-intensive, unstable, or hard to scale.

Chromologics took a completely different approach. Using precision fermentation, they developed Natu.Red®, a naturally produced red colourant that is vegan, pH- and heat-stable, and far less dependent on agricultural inputs. The result is an ingredient that performs reliably in challenging applications, without the environmental cost of conventional alternatives.

When we first invested, it was because this combination of performance and impact felt both necessary and inevitable. Today, that conviction has only deepened.

A pragmatic path to commercialisation

This new financing round enables the Chromologics team to continue moving through some of the most critical, yet least glamourised, phases of scale-up:

• Advancing regulatory submissions with the European Food Safety Authority (EFSA) and the U.S. Food and Drug Administration (FDA).

• Expanding production capacity to meet future commercial demand.

• Preparing for market entry with food and beverage manufacturers seeking stable, natural colour solutions.

These steps represent the type of long-term, technical groundwork that ultimately defines whether innovations become real-world alternatives. Chromologics is doing this work with clarity and discipline.

What this means for the future of ingredients

The shift toward cleaner, lower-impact ingredients is accelerating across the food industry. But meaningful transformation requires technologies that are not only sustainable, but also scalable and cost-competitive.

Fermentation-based colourants sit precisely at this intersection. By decoupling production from land, climate variability, and agricultural inputs, they offer a pathway to stable supply chains with a dramatically lower environmental footprint.

Chromologics is helping lead that shift, and we are proud to support their progress.

Why we chose to reinvest

Reinvesting is one of the strongest signals an investor can give. For us, it comes down to three factors:

1. Exceptional execution
The team has consistently hit complex scientific and operational milestones, the kind that separate promising ideas from viable companies.

2. A product that solves a real industry need
Natu.Red® offers stability, scalability, and sustainability, addressing a problem that food and beverage manufacturers have struggled with for years.

3. Alignment with our mission
Reducing environmental pressure at ingredient level is exactly the kind of high-leverage climate opportunity we aim to support.

Looking ahead

We see this next stage as a meaningful move toward commercial availability and broader industry adoption. It’s also a step towards a food system where performance doesn’t require compromising on impact.

We’re excited to continue backing Chromologics on this journey, and to support the emergence of a new generation of ingredients built for both people and planet.