Advance Albany County Alliance Marks Historic Investment in Ecovative
$1,681,000 commitment to fast-growing research, development and manufacturing business reflects County’s sustainability goals
March 27, 2025
GREEN ISLAND, N.Y.—The Advance Albany County Alliance, its partner agencies and Albany County government officials today presented Ecovative with a ceremonial $1,681,000 check, commemorating the County’s largest investment to date in sustainable research and manufacturing.
The check presentation was held next to Ecovative's newest packaging line for MyBacon: an award-winning plant-based bacon from MyForest Foods, a spinout company of Ecovative, which is farmed, prepared and packaged at Ecovative's 180,000-square-foot facilities in Green Island. The expanded packaging line is a direct result of funding provided by Albany County.
“Albany County has always been a place where bold ideas take root and thrive. Ecovative is a perfect example, harnessing the potential of mycelium to create alternatives to some of the most environmentally taxing industries including food, fashion and packaging,” said Albany County Executive Daniel P. McCoy. “This historic investment is about embracing innovation while strengthening the local economy and creating jobs. It also underscores our commitment to the environment and sustainable development. Together with the Advance Albany County Alliance, we will continue to ensure Albany County remains a leader in forward-thinking industries.”
In 2024, Ecovative received a $681,000 grant from Albany County’s Sustainable Technology and Green Energy (STAGE) Grant Program. In 2025, with assistance from Advance Albany County Alliance, Ecovative also closed on an additional $1,000,000 low-interest loan from the county. The $1,000,000 is the largest-ever disbursement from the twenty-million dollar Al Tech Loan Fund, administered through the Albany County Business Development Corporation (ACBDC). Altogether, the funding is expected to create 160 new local jobs over the next five years through the expansion of packaging facilities for MyBacon.
“Ecovative represents everything the STAGE Grant Program seeks to support: a growing, sustainable and industry-redefining business that creates jobs and prosperity for Albany County,” said Advance Albany County Alliance CEO Kevin O’Connor. “The factors that made Ecovative a perfect STAGE grant applicant also boosted its case for receiving the largest-ever loan from the Al Tech Loan Fund. I am proud of my team for working tirelessly to see both of
these funding opportunities fulfilled, and even more proud to call Ecovative a partner in Albany County’s success.”
MyBacon is the flagship product of MyForest Foods, a successful spinout company of Ecovative. MyBacon is now the fastest selling plant-based breakfast item in the natural channel, outperforming the entire category with three times the average sales velocity. The product is carried by over 1,200 retailers across 45 states, Puerto Rico, the U.S. Virgin Islands, British Columbia, and Jamaica, including major grocers like Whole Foods Market, MOM's Markets, and Erewhon.
"This investment from Albany County propels our vision forward in Green Island," said Eben Bayer, Ecovative's CEO. "We're cultivating more than mycelium here—we're employing a skilled workforce with manufacturing and farming jobs that strengthen our local economy. Albany County's support amplifies our ability to develop high-performance solutions while putting down deeper roots in the community that has helped us grow from the beginning."
On Thursday, Ecovative announced that it had secured over $11 million in its latest funding round, including the $1.68 million from Advance Albany County Alliance. This strategic investment will primarily support increased production capacity for MyForest Food's MyBacon, enabling the company to meet surging consumer demand as it continues its nationwide distribution expansion. Additionally, the funding will enhance research and development in the company's Forager division, accelerating performance innovations in mycelium materials for fashion and wellness applications.