In 2018, sustainable materials company Bolt Threads debuted Mylo, its mycelium-based leather—and for many in the textile space, it signaled that a viable alternative to animal leather was in clear view. Big name brands from Stella McCartney to Adidas expressed interest and even launched products with Mylo, from a concept Stan Smith shoe to a limited-run luxury handbag. Subsequently, Bolt Threads raked in more than $300 million in investments. In September 2021, Bolt said its mushroom leather was ready for commercial production.
Less than two years later, production of Mylo has been paused indefinitely.
The news that Bolt Threads was halting production may seem like a death knell for emerging sustainable materials. In an interview explaining the move, the startup pointed to the challenges of the current economic climate for securing capital, an issue that could plague any fledgling company.
But experts say Bolt’s shutdown doesn’t necessarily mean the end of mushroom leather as an entire industry. Startups like MycoWorks and Ecovative are still working on their own mycelium-based materials, and a host of others are exploring the possibilities of leather alternatives made of everything from pineapple to cactus to coconut.
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