Category: Future Foods

  • 16 Mins Read

    If you’re in the know in the food tech world, then you will surely have heard Maya Benami’s name. The Israeli food-tech scientist is the secret research whisperer to the global alternative protein industry, consulting on all matters of R&D and her clients include startups, big corporates, governments and investors from all four corners of the globe.

    Maya is someone I deeply admire and respect and I have personally turned to her for advice and insights more times than I can count. While we often lionize founders and funders, we’d be nowhere without scientists, which is why I could not think of anyone better to celebrate and interview this International Women’s Day.

    Below, I talk to Maya about how she became a scientist, the challenges faced by women in STEM, why Israeli women are so strong and confident and how she balances life, work and family.

    Can you tell us a little about your background and where you are from? 

    As the product of an Israeli father and a German-American mother and moving around in the U.S., I had the privilege to experience growing up among different communities and types of people. However, my desire to explore my paternal roots and live in a desert to study water science prompted me to move to Israel 15 years ago. Since then, I have earned a master’s and a doctorate in microbiology and hydrology, volunteered, traveled or studied in more than 30 countries, worked in multiple environmental and human health industries, and started a family here in Israel.

    Through the lens of biology and chemistry, I’ve found a framework to explore, test, and question the inner workings of our world. 

    How did you become a scientist?

    My experience may resonate with many immigrants and those who have grown up among them. My own family of mixed heritage, many with Jewish roots, and continual exposure to the stories of others in diverse communities marked me during my upbringing in the United States. These experiences instilled in me a profound appreciation for education, travel, language acquisition, critical thinking, and a refusal to accept things at face value. These values align with the scientific mindset, where independent thought, exposure to new concepts, perseverance, and curiosity are vital to success.

    Through the lens of biology and chemistry, I’ve found a framework to explore, test, and question the inner workings of our world. They are fields that demand rigorous investigation, a deep commitment to intellectual curiosity, humility, and the willingness to challenge conventional wisdom. For me, nurturing scientific discovery has become a way of life that continually challenges me to create structure and organization in my own world, and surprisingly also opened the doors for me to discover how others approach the world more objectively.

    How did you end up getting into food tech?

    Over fifteen years of academic and industry-based work in environmental and human health has taken me on an interesting journey via exploring and writing about cutting-edge technologies across diverse disciplines in several countries. From tackling issues in agriculture via proper wastewater treatment, effective pathogen eradication to extend food shelf life, or examining how plant compounds affect mammalian cell physiology, I’ve had the privilege of collaborating with diverse teams to study and test the latest tools and techniques and publish our findings. I was using techniques and applications that are now more widely applied in novel food production, such as molecular biology, wastewater treatment membranes, microbial and mammalian cell cultivation, and fungal biotechnology.

    While attending GFI’s inaugural conference here in Israel in 2017, I discovered the immense potential of these cross-over technologies for scaling sustainable food production. I realized that my unique, cross-disciplinary approach to R&D challenges could offer a significant advantage. Through my consulting and technical due diligence services, I leverage my diverse background to provide companies and investors with innovative solutions that can save costs while addressing societal challenges like climate change. As global investment in R&D continues to increase and become more expensive, proper planning and cross-disciplinary collaboration have never been more critical. I hope my approach to R&D challenges can help accelerate innovation, improve products and services, and pave the way for a more sustainable future. 

    I consider it very important to give back what I have been given and devote significant time pro bono each week to supporting young start-ups.

    What exactly do you do for work?

    Today, I use my degrees and international experiences as an R&D consultant, specializing in the global alternative protein industry. My clients, which range from large food and biopharmaceutical companies to forward-thinking agriculturalists, rely on my guidance to help them navigate the intricacies of this rapidly-evolving field. I also regularly perform technical due diligence and consult for investors seeking to capitalize on cutting-edge food and microbial technologies like fermentation, cellular agriculture, novel ingredients, and molecular farming. It’s a thrilling time to be at the forefront of this industry, and I’m grateful for the opportunity to help shape its future.

    But I try not to limit my efforts to just the big players. I consider it very important to give back what I have been given and devote significant time pro bono each week to supporting young start-ups, students, and scientists who share my vision for creating a more sustainable food system. Through this type of networking and mentoring these past years, I’m also co-leading a small global team to create an alternative protein product taste and consumer review database called Taste Like, which should launch to the public in the coming months. 

    I have had the opportunity to work with many innovative (and surprisingly many female-led) Israeli companies.

    What are some of the companies you have worked with in food tech?

    I owe much of my success in the consulting industry to Bright Green Partners, a boutique alternative protein consulting firm, where I have been part of exceptional consulting teams for almost three years. Through Bright Green Partners, I have been the lead technical consultant to solve R&D problems for sizeable global food and biopharmaceutical companies. I am also very grateful to InnovoPro, one of Israel’s leading chickpea food companies, which gave me my first consulting and writing project. I have also had the opportunity to work with many innovative (and surprisingly many are female-led) Israeli companies such as GreenOnyx, which produces water lentils, Nuversys, which specializes in fragile ingredient encapsulation, Aleph Farms, which cultivates meat, and BioRaptor.AI, which offers an AI-powered insight platform for food and biopharma. On an international level, I have consulted for Novozymes, Aqvita, and a range of generalist and food-focused venture capital firms seeking due diligence on food and medical-related technology investments. Some of this due diligence led to successful investments or acquisitions of companies that produce cultivated meat, insect alternatives, contaminant detection technologies, and novel plant or fungal-based ingredient production.

    Women are actively encouraged to pursue careers in science, technology, engineering, and mathematics (STEM) fields in Israel.

    Israel seems very supportive of women in science. Is that fair to say?

    Yes, in most parts of Israeli society, a well-developed scientific and technological sector provides exposure opportunities to young men and women alike. Women are actively encouraged to pursue careers in science, technology, engineering, and mathematics (STEM) fields in Israel, and many initiatives are in place to support them. One of the first things I remember upon landing in Israel to begin my master’s degree was that a female, Muslim Ph.D. student in my lab was encouraging me to apply to as many grants as possible: she had recently found out that she was able to net a larger salary per month than one of our male advisors. It also helps to see role models and be mentored by them. I was lucky to be mentored by a strong female in science, my original advisor Dr. Osnat Gillor, who also constantly encouraged me to apply for grants, go to conferences, and publish my work. Cultural norms are generally also more accepting here in Israel of a woman leaving the work day earlier than usual to pick up and care for children. Work days and deadlines are also generally more flexible. 

    Within the international Jewish community and inside Israel, many organizations and initiatives specifically focus on encouraging and supporting women in STEM, especially immigrant and minority females. These include programs that provide mentorship, additional financial support, networking opportunities, and access to professional development resources for women in STEM fields. 

    There is, of course, a long way to go. There is still a gender gap in STEM fields in Israel, as in many other countries. There are many sectors of Israeli society where women and men cannot access the benefits I wrote above. Women remain underrepresented in specific scientific areas and leadership positions, facing barriers such as bias, discrimination, and lack of access to funding and resources. However, there is a growing awareness of these issues in Israel, and some efforts are being made to address them.

    By giving women equal opportunities to serve in the military, the IDF aims to challenge gender stereotypes and encourage greater gender diversity in most areas of Israeli society.

    I don’t want to stereotype but on average, it seems most of the Israeli women I know are super tough and confident. Is there something specific about Israeli culture that makes it so? Is it because Israeli women, like Israeli men, undergo military duty?

    The Israeli Defense Forces (IDF) has taken steps to ensure that women are integrated into the military and given equal opportunities to serve in various roles. Women can serve and lead combat units, intelligence, and technological roles as well as provide administrative and support positions. In addition, the IDF provides equal pay and benefits to male and female soldiers. These policies aim to create a more equal society by promoting gender equality and breaking down traditional gender roles. By giving women equal opportunities to serve in the military, the IDF aims to challenge gender stereotypes and encourage greater gender diversity in most areas of Israeli society. The mandatory military service in Israel also cultivates a sense of close community and creates a natural networking base, which is critical for future work opportunities regardless of gender. It brings together people from diverse backgrounds, further promoting cross-disciplinary collaboration and fostering innovation. When a farmer can work alongside a physicist in the IDF, these types of relationships further promote cross-disciplinary collaboration and foster innovation, which can benefit all sectors of society. 

    However, beyond a form of an equalizing factor that the IDF brings to society, large parts of the Israeli population are not required or choose not to participate in serving. I believe it may be more about the hardships and navigating mixed cultural values, which may affect how Israeli women approach the world. 

    First, Israel is a country with an interesting mix of many strong cultures that emphasizes self-reliance and reliance upon your community connections. All Israelis are generally encouraged to become educated, question authority, and be self-aware and assertive. Israel is also a country that values risk-taking and finding solutions at all costs.

    Second, Israel is still quite a new country with a past and current history of conflict and adversity, requiring its citizens of all ethnicities to be resilient and adaptable. Daily life in Israel is expensive and bureaucratic, with the need to be resilient and adaptable. Travel is a common pursuit that also fosters a sense of autonomy and worldliness from a young age. Israeli women are accustomed to living in discomfort, advocating for themselves and their families, and overcoming obstacles when plans change last minute (e.g., running to a bomb shelter).

    Third, Israeli women have high education rates and are well-represented in many fields such as law, education, medicine, and the sciences. This representation empowers and inspires Israeli women, and this progress can be traced back to the 1960s with the region’s first female Prime Minister, Golda Meir. Historically, women also played a vital role in building the first settlements of the country, and in the early years of the kibbutz movement, they were encouraged to participate in traditionally male-dominated fields. The stories of women and men in our families surviving the Holocaust and many Israeli wars, establishing kibbutzim, and sharing their other experiences have left a lasting impression on the current generation. 

    Despite these advancements, Israel still faces significant challenges in promoting gender equality and protecting their most vulnerable people. Domestic violence, harassment, trauma, limited promotional opportunities, wage disparities, and access to mental health services remain pervasive. Additionally, women have historically been underrepresented in Israel’s highest ministerial offices and continue to have limited political opportunities, which sets Israel apart from most Western nations. 

    My female advisor pulled all of us females aside, and she urged us to interrupt the men and contribute more.

    What challenges do women in science face?

    I believe there is a very high rate of both women and men who experience imposter syndrome in the sciences, as I discovered when interviewing numerous scientists for a book I wrote during my PhD. Impostor syndrome is a fear of being exposed as a fraud due to self-doubt about one’s skills and accomplishments. We don’t talk about this enough for also the fear of being seen as “naïve.” However, women and men react to this phenomenon differently. For example, the imposter syndrome can harm women’s confidence and make it challenging to speak up during meetings or ask for further guidance, leading others to view us as less knowledgeable. 

    I recall one lab meeting where out of the lab of six women and two men, the two men completely dominated the meeting with questions and answers to their questions. It prompted my female advisor to pull all of us females aside, and she urged us to interrupt them and contribute more. Especially in Israel, where assertiveness in meetings is highly valued, a male advisor also commented to me once that my failure to interrupt him during private meetings to get to an answer more quickly showed him that I possessed less initiative compared to a male colleague who did.

    The way women and men navigate the worlds of science and business, which are becoming increasingly important in academic and industry-based technical fields, differs significantly. Men tend to dominate executive roles like CEOs and CTOs, often taking the lead in risk-taking and finding cost-effective solutions to technical challenges. In contrast, women face greater obstacles in achieving these positions and being heard that their ideas matter.

    For women in science, balancing work and personal life can be a real tightrope act, especially when they also have caretaker responsibilities. Preparing and conducting experiments can demand long hours and inflexible schedules, leaving little room for personal obligations. On top of that, the constant pressure to deliver usable results, amidst the many failed experiments, and publish papers that undergo endless changes or rejections from peer reviewers, can be daunting. To complicate matters further, obtaining funding and the opportunity to attend international conferences is a luxury for many female scientists. This can hinder career advancement as these events provide valuable opportunities to present work, form beneficial collaborations, and network with peers.

    What does International Women’s Day represent to you? 

    International Women’s Day is a vital reminder of the ongoing struggle for gender equality and women’s rights worldwide. It is an opportunity to celebrate women’s achievements and contributions to society while recognizing the challenges and barriers that still exist for over 50% of the global population.

    In terms of International Women’s Day and food, women are the center of where we should be improving and celebrating. Women play a crucial role in food production and purchasing. Across many regions, women participate in all stages of the food production cycle, from planting and harvesting to processing and selling products for consumption or commercial purposes. In developed and non-developed regions, women are almost universally the primary decision-makers in buying and preparing food for our families. Domestically, women are the center of knowledge and decisions regarding the preferences influencing food choices, cooking methods, and nutrition practices for multiple generations of large families. Both in the first and third worlds, we need access to affordable, nutritious, and preferably tasty food to improve dismal maternal and childhood mortality and morbidity statistics, such as half of preschool children and two-thirds of non-pregnant women (globally) being micronutrient deficient. Statistics like these are also a significant reason I entered into the intersection of science and nutrition – to address childhood and female malnutrition effectively and hopefully promote more sustainable food production. 

    Ask or be insistent about receiving credit for your work early on, so a paper trail can be made of your accomplishments.

    What advice do you have for the younger generation of women coming up in the world and in their careers?

    Prioritize your mental and physical health. It takes courage to ask for a break or additional support when faced with challenges or problems. In most cases, others are more than willing to lend a hand or provide a fresh perspective, but they may not know what you need until you effectively communicate it. Don’t be afraid to seek assistance from a variety of sources inside your industry or outside of it (like family and friends), as it can lead to finding alternative solutions or new ways of approaching a situation while creating the opportunity for what others want – the feeling of being useful. Asking for help can create the opportunity for a new friendship or deepen an existing relationship.

    Ask or be insistent about receiving credit for your work early on, so a paper trail can be made of your accomplishments. Whether asking for your name to be put on a paper after contributing even a little bit or asking for better compensation, speaking up becomes easier the more you practice. 

    Building a support network can be instrumental in overcoming obstacles and achieving success. You can maximize your potential and accomplish your goals by surrounding yourself with supportive, positive people and creating a database of resources and tools you can access in times of stress.

    Individuals in scientific fields often lack training in business economics.

    What are the biggest challenges facing women in ‘future of food’ technical roles?

    Successful leaders of food technology companies must have a strong technical background to oversee product development, scaling, and safety processes effectively. Creating new food products often involves specialized technical knowledge and hands-on experience in several disciplines, including food science, ingredient chemistry, and microbiology. However, individuals in scientific fields often lack training in business economics. In recent years, there has been a growing need for professionals who understand complex scientific disciplines and food formulation processes while possessing astute business acumen.

    Furthermore, advancements in the novel foods movement and emerging technologies and ingredients produced by them, like fermentation, cellular agriculture, and molecular farming, have introduced new challenges in food production. These techniques require different approaches to creating food products, necessitating a deeper understanding of cell biology, bioprocessing, and plant and food science to stay current and innovative. Atop of the natural complexity of novel food production, technical leaders must keep up to date on new food regulations in multiple markets, and rapidly changing consumer preferences, effectively juggle investor, partnership, and client relationships, and keep expenses down through optimized supply chain management. Some are also tasked to be the face of the company in terms of public relations and marketing. 

    Science is a collaborative industry where success should be measured by contributing to a better understanding of human, animal, or environmental problems. 

    What do you wish could change about women in science?

    Acquiring a research-based graduate degree or technical position in the sciences is principally thought of as an achievement based on intellectual rigor: this is only partially true. Many agree that maintaining discipline and stamina can prove to be more significant challenges than natural intellect. Perseverance is critical when facing obstacles such as failing experiments, difficult advisor relationships, lack of funding, and rejected publications. Even when transitioning to a highly technical job, the need for grit, supportive mentorship, and continual financial or knowledge-based resources remain essential.

    Developing a network of supportive relationships within and outside of science can go a long way in overcoming these challenges. Rather than relying on your natural abilities in math and memorization, having a passion for a subject, perseverance, and a supportive network to find solutions can outweigh many deficits in these areas. Personally, I was fortunate to have access to and find the time to attend weekly math and science tutoring throughout my undergraduate and graduate degrees. 

    I would hope that we eventually shift the perception that success in science is defined solely by reaching high-ranking positions like CTO, patent creator, professor, or publishing in prestigious journals. The truth is that science is a collaborative industry where success should be measured by contributing to a better understanding of human, animal, or environmental problems. Any person, whether a citizen scientist or a student, who contributes to this cause and communicates it effectively is a successful scientist, in my opinion.

    Producing usable research findings is a collaborative effort requiring a team of individuals working together for many months or years. From lab managers and technicians to interns, department secretaries, scientific writers, donors, and more experienced colleagues, every team member plays a crucial role in the success of an experiment and the publication of its findings. Effective mentorship and financial resources are also essential for success in the scientific industry. As someone who now works in the industry, I have continued to benefit from mentoring others and being mentored by those with more experience.

    I’m honest and ask for help a lot..no one can do it all without that “village.”

    How do you balance work, family, and everything else?

    Juggling multiple responsibilities can be challenging for anyone, but I find that as a woman, the expectations placed on us in regard to food preparation, cleaning, work, self-care, and raising a family are increasingly challenging to balance. Managing everything at once is impossible, so I’m honest and ask for help a lot. I’ve learned to approach modern-day life with a willingness to outsource and compromise on expectations. Although I’m lucky and privileged to work from home primarily, this type of work creates collisions of family time, work, and domestic responsibilities. 

    For instance, my daughter is currently sitting next to me, working on a puzzle while I tackle emails and respond to this article. A few minutes ago, a homemade food delivery guy (I am not a fan of cooking, but my neighbor is) dropped off half a week’s worth of meals, and in the background, I’m listening to the hum of the washing machine. I’ll run some errands on the way to dropping off my daughter at her babysitter’s before heading to an on-site meeting. Later in the evening, I’ll join a virtual meeting with international clients while my husband puts our daughter to bed. There are rarely any days off and I combine my “relaxation time” of watching a Netflix episode with washing dishes, for example. It’s a lot to manage; no one can do it all without that “village.” In my attempt to be humble and honest with myself and others, create a support network (and prioritize assisting back those who help me), and stay as organized as possible, I can generally navigate the demands of modern-day life.

    The post Forget Princess, I Want To Be A Scientist: Celebrating Food Tech Researcher Maya Benami This IWD appeared first on Green Queen.

    This post was originally published on Green Queen.

  • 4 Mins Read

    Mycelium protein company Meati Foods is launching chicken-like cutlets and beef-like steaks made from mushroom root at Sprouts grocery stores across the US.

    Meati Foods, which makes whole-food animal protein products from mycelium, says that its range of mushroom-based beef steaks and chicken cutlets is now available at 380 Sprouts Farmers Market stores across the United States after a successful pilot last summer.

    The company’s retail-ready range, dubbed Eat Meati™ includes alternatives to beef and chicken such as a Classic Cutlet, a Crispy Cutlet, a Classic Steak and a Carne Asada Steak. The products will be sold in the frozen meat aisle of Sprouts stores.

    Source: Meati Foods

    “The high demand for Meati products at our early Sprouts locations in Colorado made it clear that people have been waiting for a differentiated, animal-free protein that tastes great while delivering an outstanding nutritional profile,” said Scott Tassani, Meati’s president and COO.

    Meati uses fermentation technology to produce meat-like products made primarily from mycelium, the root portion of a type of mushroom. The company says it can transform “a teaspoon of spores into hundreds of cows’ equivalent of whole-food protein” in a mere few days using what it describes as “a nearly infinitely scalable platform”.

    “We look forward to continuing to demonstrate how well Meati complements a broad spectrum of preparations, within the weekly rotation for meat-eaters and non-meat-eaters alike,” added Tassani. 

    Source: Meati Foods

    ‘Repeatedly sold-out online’

    The company launched at select retail locations last July, but this marks the first time consumers will be able to purchase the products in-store across the country. Previously Meati’s line was available online (where the company says its products would “repeatedly” sell out and the plan is to do a national omnichannel rollout in late 2023. The company works with food service providers who feature their mushroom-based protein on their menus; this past November, Meati debuted its Carne Asada Steak at the Sweetgreen salad chain.

    “At Sprouts, our focus has always been on bringing the latest and best in fresh, natural and organic food to our customers,” said Kristen Zoldan, Sprouts’ Category Manager of Meat. “Meati products exemplify this mission, and we’re delighted to play a role in introducing the brand to the world.”

    Meati Science Advisory Board

    Last week the company shared it had formed a Meati Science Advisory Board (MSAB), made up of leading nutrition and food science scientists, in order to research the health benefits of mycelium and its nutritional features as a whole-food protein source.

    Joining the board are Dr. Harold Schmitz, chairman of the MSAB, is a General Partner at The March Group and Senior Scholar in the Graduate School of Management at the University of California, Davis (UC Davis), Dr. Carl L. Keen, Professor Emeritus in the UC Davis Department of Nutrition, who worked on California’s Proposition 65, Dr. Roberta R. Holt, Associate Researcher in the UC Davis Department of Nutrition, Dr. Justin Siegel, Associate Professor of Chemistry, Biochemistry and Molecular Medicine at the UC Davis Genome Center and Dr. John Munafo, Flavor Science Director at the University of Tennessee Department of Food Science.

    Dr. Justin Whiteley, CTO and co-founder of Meati Foods said of the new board: “At Meati, we believe consumers and the environment win when we invest in rigorous scientific understanding of our products, and the MSAB was created with that goal in mind.” 

    Source: Meati Foods

    Chef’s Collective and a new production facility in 2023

    In January of this year, the company announced the opening of a large-scale production facility in Colorado that it said could “rival the output of conventional animal farms”.

    In February, Meati shared a new chef-led “Meati Culinary Collective” by food industry stalwarts David Chang, Tom Colicchio, Evan Funke and Charlie McKenna which would give its consumers the chance to taste Meati in products created by the chefs.

    This comes on the heels of a $150 million Series C in July of last year, which included backing from Chipotle’s Cultivate Next Fund. The fast-casual leader said it would work with Meati to accelerate its production, create new products and assist with retail expansion.

    “Meati was founded on a commitment to develop food solutions good for the health of people and the planet, and we are excited to strengthen this commitment by working with the MSAB to unlock the vast potential of our mycelium and mycelia in general,” said Dr. Justin Whiteley, CTO and co-founder of Meati Foods. “At Meati, we believe consumers and the environment win when we invest in rigorous scientific understanding of our products, and the MSAB was created with that goal in mind.” 

    The post Whole Food Mushroom Root Protein Maker Meati Rolls Out Across Sprouts Nationwide appeared first on Green Queen.

    This post was originally published on Green Queen.

  • 11 Mins Read

    Andrea Hernández is the founder of Snaxshot, a platform for emerging food and beverage brands whose newsletter has become a must-read amongst young founders and veteran CPG brand folks alike thanks to her astute observations and just snarky-enough cultural musings. She highlights trends, showcases under-the-radar brands and calls out BS as she sees it. Below she talks to Green Queen‘s Sonalie Figueiras about being what she she’s building, the differences between Gen Z and Gen Alpha, what brands are getting wrong about sustainability and being a closet millennial.

    Sonalie Figueiras: Can you share more about Snaxshot and how it began? What’s your mission?

    Andrea Hernández: I’m building something that really hasn’t been done before. So it really kind of is taking shape on its own. I would say Snaxshot is the rebellious underdog of the food and beverage industry, where we’re open and creating space for conversations that we believe are important to have around about something that’s so essential [what we eat and drink] but also using humor and parody to address the subjects. 

    It’s its own unique community, where we invite people to share in their own indulgences, to partake in discovering new products and new snack concepts and emerging founders, and help create a platform that levels the playing field for people who have baby brands but don’t have $5 million in seed money that they got from their rich friends. 

    This space is really to serve that community and those types of brands, and we’re having fun as we build and navigating the trends that we pick up on and are able to kind of parse through the bullshit or the noise and do away with the fluff and the smoke and mirrors and just be honest and say: do we really need more beverage [brands]? Probably not. 

    We kind of mold ourselves to be the intermediary person, the glue that holds the community, the slingshot. The one who helps people understand brands and consumers in this ever-changing landscape of food and beverage.

    Sonalie Figueiras: I see you as a sort of a Gen Z seer, and what I really want to understand from you is what is a Gen Z consumer looking for from a food brand?

    Andrea Hernández: It’s so funny because a lot of people identify themselves with Snaxshot [and see it] as having a younger demographic but I keep telling people: I’m 32 years old! I am not part of your demographic whatsoever! 

    I think it’s just [my] unfiltered way of living, where people go: ‘I love to hear from someone who is speaking my language or speaking the truth or being transparent and not trying to pretend’.

    I feel like for me, Gen Z-  which is by the way not even the youngest one anymore because you have Generation Alpha approaching their mid-teens fast and so I feel like that’s going to create like this whole other momentum as well- but for me, the younger demographics really tried to parse through the bullshit in a more expedited way, so that’s why you see all these Tik Tok people analyze and break down things with this air of authority…their thing is to uncover things and discover: what’s the real truth? There’s this approach of skepticism, which I think is necessary. And I feel like older generations just haven’t brought this in. 

    Gen Z is the generation that’s asking: ‘Wait, why? How come this is happening? Why is this happening?’

    Courtesy: Snaxshot

    Sonalie Figueiras: Yeah, that’s interesting. Let’s talk about what I like to call the Gen Z paradox, whereby Greta Thunberg is their patron saint but they are also the Shein generation. How can you be a generation that is so aware of things like BIPOC and DEI and the ethics of supply chains and you’re questioning things and bringing truth to power and creating the biggest physical protest movement of the last 50 years but then at the same time, you know, you are avidly consuming the fastest fashion brand out there? 

    Andrea Hernández: Yeah, 100%, I know what you are saying. But, we don’t have to live in absolutes, right? We are multi-dimensional. [They are] a multi-dimensional generation. 

    I feel like everybody lives within a spectrum. So are they more aware of all these issues? Yes. But you know what’s also a paradox? The fact that Gen Alpha is completely rejecting those things. The most popular snack brands for Gen Alpha are goldfish crackers by Mondelez. So where Millennials are trying to get their kids to eat ‘veto’ (keto + vegan) and plant-based and drink prebiotic sodas, the kids are getting into their teens and saying: ‘No, I want to have a fucking Coke. And I want to have goldfish crackers.’ We’re seeing the same kind of generational countercultures that you saw with yuppies versus the 90s grunge movement. You have millennials and Gen Z and then Alpha and it’s a three-decade loop that seems to be repeating itself, where we are starting to see what Millennials rejected as kids eagerly embraced by Gen Alpha. It’s a very interesting time and space.

    And I tell people we’re not going to really know much until the end of the decade when we have these two new generations entering adulthood. By the end of the decade, you’ll have the eldest Alphas turning 20 and most of Gen Z will be in their 30s, most millennials will be 40-50 so more time is needed to make a generational assessment.

    Gen Z is the generation that’s asking: ‘Wait, why? How come this is happening? Why is this happening?’

    Sonalie Figueiras:  That’s very interesting. I like what you’ve said about how we’re allowed to have a duality. But I want to press harder. You do spend a lot of time looking at brands, analyzing brands, talking about brands, you know, telling brand stories, and interacting with these brands. Does sustainability matter? Does climate matter?

    Andrea Hernández:  See, that’s what I’m trying to kind of get a good picture of with Gen Z, with our new college program, which is: bring in whatever you have in your college pantry and your college apartment and trade it for these brands that promise to be sustainable and say: ‘we’re better for you’, ‘we’re recyclable’, ‘we’re better than the stuff that they can get at a regular supermarket’. And these brands are just so new that they haven’t had access to retailers that Big Food has, because it’s a very unfair structure, it’s very pay-to-play, and whoever has the most money has the best real estate. 

    Brands like Brightland for example, a millennial-led brand that focuses on making sure that all the workers [are well-paid] and that the oil that they procure is sustainable. But it’s a $40 olive oil. Does Gen Z have that amount of disposable money? No, not yet. It’s a complicated conversation because I do think that they want to do better but they are just getting into their mid-20s and getting a stable job that gives them expendable income to justify a $40 bottle of oil. And then the education [piece] comes up. They are saying: ‘Why are these products priced so high?’ You see this with plant-based where people are asking, ‘why isn’t it the same [price] as meat? Why is it more expensive?’ 

    So I would say there is interest in sustainability. People are seeing the effects of climate change, it’s happening around us. But at the same time, there is a duality because I can’t afford to buy a $40 ‘better for the environment product. 

    I think that we just haven’t addressed the elephant in the room, which is our indoctrination into over-consumerism. And this is why you see the Shein issue. This whole paradox we haven’t addressed is that we keep getting indoctrinated into overconsumption and doing things that we don’t necessarily need. And we have deviated so far from [traditional] cultures where you use everything that was available to you. And are we going to get back to that anytime soon? I don’t know. Is this the paradox, the more tech-forward we become, the less we go back to our roots and [are able] to be less wasteful? There’s a very loaded tension there.

    Sonalie Figueiras: Right, there’s a tension there. Because on one hand, we want to give indigenous communities back their voices and their power, and their land stewardship, we want to learn from them, we want to rehabilitate them in their rightful place as stewards of the land. But at the same time, we also want more products, more scale, more growth. We live in a neoliberal capitalist economy. And, you know, to some extent, even the way you’re working with brands…they’re also working with you because they want to sell more stuff.

    Andrea Hernández: Oh, I mean, I was embracing this from the moment I started Snaxshot, I made this into a parody of the state of where we are right now. I’m literally parodying what a snaxboi is, you know fuck boy-meets-Erewhon. The only thing that I’m doing like that I feel is better is that I’m helping brands with diverse founders get a shot to try to make it better. 

    You know, like my friend Maricel Saenz who does Minus Coffee. She’s addressing the reality of what a climate-catering brand looks like and she is a female founder from Costa Rica. Not your typical person, [not the type] to raise a few million easily to get this off the ground or to get products made. Or I have a Mexican dried fruit brand growing mangoes on local farms that don’t have anything added so it’s healthier. Getting her into US retail, so that she as a Mexican female founder, which is unheard of, can do these kinds of things like getting into Erewhon Market or getting into Foxtrot and [to be able to] give that visibility to her. This is why I do it. I see myself as an intermediary.

    So I don’t see myself as trying to push people to buy things as much as I’m trying to sort of make the [creation of] space the goal. 

    But I do get what you mean. That’s the whole parody of Snaxshot: do we really need another fucking beverage? [The answer] is no. 

    I joke about how I saw this article by Bon Appetit that said we’ve reached peak beverage. Bro, this is three years too late. We’ve [at Snaxshot] been talking about peak beverage, we’ve been saying ‘sea of sameness’, I’ve been making memes about how capitalism breeds innovation but then you get a beverage aisle with the same fucking looking drinks. We have always been highlighting this. But at the same time, it is what it is. We live in a hyper-capitalist society. Once again, we live in a spectrum. I don’t consider myself uber-capitalistic, but I also have to work for a living. Does that make sense?

    Courtesy: Snaxshot

    Sonalie Figueiras: Of course, it’s so refreshingly honest, and I mean, let’s call the climate capitalist controversy spade a spade, you know. It’s the paradox we all live in. 

    So my last question is: what general advice would you give a brand creator? Specifically, the brands that we talk a lot about, and write a lot about and report on at Green Queen, the  future food brands trying to disrupt animal agriculture and lower the GHG emissions of the food on our plates? 

    Andrea Hernández:  Yeah, I think a really good example of this is a brand called Juicy Marbles. They try to add humor to what they do. You’ve got to meet people where they’re at. Also, brands- just tell me in one sentence: what is it that you’re doing? How am I helping? What is it that you’re disrupting? Why is this needed? Seems like [a lot of brands] haven’t really been able to do that. 

    My advice is: make it easier for people to understand. It’s all about simplifying the message and not being overly scientific about it. I understand and respect the science, but we’re simple people, we’re human beings. There are literally studies that show that pretty packaging makes our hands move towards it because we think it’s cute. 

    Take the non-alcoholic movement. They copied what alcohol was doing, which was sexy marketing. And it worked for them. So my biggest [piece of] advice is that if you want to get mass appeal, you have to have a mass message.  I come from a communications background and you have to sexify [the message]. Unfortunately, this is the world we live in. And you can tell people: this will literally save the world. But if it’s not in a way that they can understand and that they’re familiar with, it’s just not going to be something that I feel will be successful. S

    Sonalie Figueiras: What I’m hearing from you is, brands, you’ve got to be relatable. And that’s really, really good advice.

    It’s all about simplifying the message and not being overly scientific about it.

    Andrea Hernández: You’ve got to meet people where they are and appeal to their sense of understanding. Your average consumer is not [necessarily] going to be someone from New York City or LA. These brands want to be mainstream, right?

    So if it’s not a message that you’re going to be able to convey in a way that they can understand, then there’s something that needs to be reworked. 

    This is why the water brand Liquid Death has been so successful. People said: who’s gonna buy this? Water is a commodity. That’s so stupid. $2 for a water can? But the branding is the message, right? And it’s turned into a billion dollar company in four years. The same with the non-alcoholic industry. They’ve been able to sexify themselves.

    Sustainability needs that feeling of ‘I want to be part of that’ and I think beyond food and beverage, beauty and makeup are doing a better job in terms of sexiness and defining themselves as sustainable brands to appeal to that. 

    Sonalie Figueiras: Absolutely. Thank you, I appreciate your time and your expertise. And I’m looking forward to sharing it with our audience and having people learn from you about how to build brands for a new generation.
    Andrea Hernández: I’m excited to read it and share it. This was a really great conversation. I try to be as honest as I can. I’m not trying to cancel anybody. I’m operating from an intermediary sense. I’m just trying to create a win-win structure for everybody in whatever medium or platform I have to contribute from. Everybody has their own mission in life. I’m not saying I’m gonna change the world with what I’m doing, but I’m just trying to do what I can.

    The post Cult Snax Leader & Gen Z Seer Andrea Hernández On Brand Building, The Gen Z Paradox & How To Market Sustainability appeared first on Green Queen.

    This post was originally published on Green Queen.

  • 5 Mins Read

    The ‘Superbowl’ of the CPG industry takes place in California this week and future food products are gaining ground on the show floor with a quarter of the booths featuring vegan products and over 100 alternative protein companies in attendance.

    Natural Products Expo West, or Expo as insiders affectionately refer to it, the New Hope Network by Informa Markets trade show and conference returns this week to the Anaheim Convention Center in California where tens of thousands of people from the natural and organic food and beverage industry will descend upon the Los Angeles-adjacent to launch, taste, sell, promote, market, negotiate and more.

    While Expo West is always packed full of brands looking for retailers and B2B buyers on the lookout for star products, it’s also popular with industry experts, investors, trendspotters and journalists thanks to the show’s reputation as a hotbed for emerging brands (many of which make their national debut at the show), food and beverage trends and new product innovations, with a slew of companies launching additional flavors and formulations during the five-day event.

    “Every year at Expo West we foster the connection between emerging brands who are impacting the landscape and industry pioneers who have paved the way for decades. This event highlights the importance of community engagement and the role everyone plays to create a more sustainable packaged goods industry,” said Lacey Gautier, VP of Events and former Group Show Director at New Hope Network.

    60,000 expected visitors

    For CPG brands in the natural and plant-based space, you’d be hard-pressed to find a better show in terms of sheer numbers. After canceling the 2020 and 2021 events due to the Covid-19 pandemic, the show returned last year with 2,700 exhibitors and over 57,000 registered attendees, compared to 3,600 booths and 86,000 visitors in 2019. This year, the official Expo website lists 3,187 exhibiting booths and as per a BEVNet social media post, 60,000 expected participants are expected to visit, the bulk of which are product buyers.

    Booths don’t come cheap. According to reporting by Forbes last year, booths usually start at around $15,000 (though there are more budget-friendly options for very early-stage companies), and if you factor in travel, booth design, samples and other related costs, companies can end up spending close to $100,000.

    Source: Green Queen Media

    Over 100+ alternative proteins making an appearance

    While Expo West does include animal products and is not exclusively vegan, alternative protein and plant-based brands are highly visible on the show floor.

    According to the non-profit The Good Food Institute, a global think tank for the industry working to make alternative proteins affordable and accessible, there are over 100 alternative protein companies exhibiting at the show this year, approximately 3.2%. In their dedicated event guide, the authors write that the list was “created by compiling all exhibitors tags related to alternative proteins and cross-referencing with GFI’s alternative protein company database to filter for companies creating products that contain direct replacements for animal products (meat, seafood, eggs, and dairy)”. Further, they specify that brands and “companies focused on inherently plant-based foods, such as chickpeas and kale” were not included in the list.

    Of the 100+, the vast majority were companies with products derived from plant-based technology. We noted 6 companies in the list marked in the fermentation category, and of those, only two use precision fermentation, including The Urgent Company (better known as animal-free dairy leaders Perfect Day) and Tomorrow Farms, a company that makes milk using Perfect Day’s cow-free whey protein. There will be no cultivated meat startups at Expo West, unless you count Eat Just, which will be showcasing its plant-based JUST Egg products, as the company owns cultivated chicken maker GOOD Meat.

    25% of the booths have vegan products

    The Plant-Based Foods Association (PBFA), a U.S.-based trade association that represents over 350 North American plant-based food companies published a list of their own featuring 76 of their members (2.5% of the show booths).

    Based on Green Queen‘s own analysis, 333 exhibitors describe themselves as plant-based, or 10.5% of the total. Note: Not all plant-based food companies are PBFA members. 785 exhibitors identify as vegan (25%), while only 71 use the term vegetarian (2.2%).

    Further, 29 booths (just under 1%) say they have products grown using regenerative agriculture, a term that has been gaining ground in recent years, compared to 268 marked as certified organic (8.4%). 237 exhibitors feature gluten-free products (7%).

    Future food tastings galore

    A bevy of future of food brands will be hosting tastings at the show including plant-based chicken company TiNDLE who will sample their just-debuted retail range and newly acquired plant-based gelato brand Mwah!; Nestle-owned SweetEarth will spotlight new recipes; Planet Based Foods, who are looking to debut both their plant-based taquito line and their hemp-based ice creams; Upton’s Naturals, who will feature their seitan products; Daiya Foods will give their new chicken frozen pizza and flatbread SKUs a whirl; and OMNI Foods will present new packaging as well as just-launched crystal dumplings and Asian flavoured bao buns.

    Beyond the trade show, Expo West hosts a content-heavy conference of talks and fireside chats. One highlight of the programme? Miyoko Schinner, founder and former CEO of Miyoko’s Creamery, who is facing a lawsuit from the company she started, will be making an appearance in a panel titled ‘Navigating Challenges Women Face in Leadership Roles in Natural Foods’, in what promises to be a packed room.

    A make or break show

    It’s been a challenging few months for consumer-facing brands with rising inflation, high energy costs, continued supply chain disruptions and a decrease in VC funding. Plant-based companies in the US have faced especially bumpy skies. Expo West could be make-or-break. As one Forbes editor writes, Expo West could be make-or-break: “The over-correction — to much-hyped valuations, sky-high deal multiples and overzealous investors — is here, and the tension will be on full display next week at the Super Bowl for the food industry, better known as #ExpoWest. In a matter of months, the market stepped back from over-valuing food startups and started demanding more, like profitability and stronger metrics. These dynamics are making it tough for hundreds of brands that have run out of cash, and now they’re in the awkward position of needing to ask for more—from the same investors who are far more risk-averse and are trying to make up for bad past deals.”

    The post Expo West 2023 in Numbers: 25% Vegan Booths, 100+ Alt Protein Brands, 60k Visitors appeared first on Green Queen.

    This post was originally published on Green Queen.

  • 6 Mins Read

    TiNDLE parent Next Gen Foods has acquired a plant-based gelato startup Mwah! based out of London as part of a wider strategy to expand their brand portfolio.

    Next Gen Foods, the parent company of global plant-based chicken brand TiNDLE, announced today that it has acquired a plant-based gelato company based in London. Mwah!, a two-year-old startup co-founded by experienced hospitality veterans Damian Piedrahita and Claudia Comini, makes vegan and lactose-free Italian-style ice cream from plant-based ingredients. Their first product, Madagascan Vanilla Gelato, is made from cashews, coconut oil, vegetable fibers, natural flavors, sugar, salt, and organic Madagascan vanilla.

    According to a press release, “through a carefully designed process that combines natural flavorings –along with selected plant-based proteins and lipids – the team can recreate the qualities of pure cream”. Mwah! plans to apply this process to a wider range of plant-based dairy products that will “provide the memorable flavor of dairy.”

    Piedrahita and Comini meet while working as consultants for F&B brands. In 2019, they joined forces to create a plant-based ice cream brand that could mirror the creaminess of animal dairy. They closed a $2 million seed round in 2022 led by Next Gen Foods to fund the R&D of their first product, a gelato. Both Piedrahita and Comini will join Next Gen full-time as part of the acquisition.

    “We’re thrilled to be joining the Next Gen Foods family. We know they are the right company to help us expand and tap into the rising consumer desire for more innovations in taste and decadence from the dairy category,” says Damian Piedrahita, CEO and Co-Founder at Mwah! “Our plans are to introduce our signature creamy and indulgent products this year – with our unique, best-in-class gelato experience – and looking forward to hearing feedback from dairy lovers everywhere.”

    Next Gen will debut the gelato at Natural Products Expo West, North America’s largest trade show for natural and organic brands this week, where they will serve attendees a plant-based rendition of chicken, waffles and ice cream featuring TiNDLE. Next Gen says Mwah! will leverage TiNDLE’s existing F&B relationships to introduce its products in UK restaurants over the next few months.

    Mwah! will leverage existing distribution through Next Gen Foods to support the introduction of its products to key markets, including the United Kingdom.

    Courtesy Next Gen Foods

    Singapore-headquartered Next Gen, which was named to Fast Company‘s World’s Most Innovative Companies 2023 list last week, has raised over $130 million to date, including a record-breaking Series A for plant-based meat. After debuting in restaurants across North America, Asia and Europe, TiNDLE launched its first line of retail products in over 6,000+ German supermarkets earlier this year and will launch in the US later in 2023 after a limited meal-kit debut created by celebrity chef Chad Rosenthal on the direct-to-consumer marketplace, Goldbelly, this past January. Starting this month, folks in New York City and Miami can find a selection of TiNDLE’s retail products at the lifestyle concept store SHOWFIELDS.

    Green Queen spoke to Next Gen CEO Andre Menezes about the acquisition, why they chose ice cream as their second brand category, and what’s coming up for the company.

    Green Queen: Will Mwah! be under the Next Gen Foods umbrella, and separate from TiNDLE?

    Andre Menezes: We’re welcoming Mwah! to the Next Gen Foods family of brands. TiNDLE will remain focused on plant-based chicken and growth in that category, while Mwah! will develop new and delicious dairy-inspired products. 

    Green Queen: Can you share more details about the acquisition deal? Was it cash or equity or both?

    Andre Menezes: We can’t disclose specifics about the deal terms, but can share that we’ve been involved with the business for a couple of years now. Jean (Madden, Next Gen’s CMO) and I previously sat on the Mwah! board of directors, prior to the acquisition, as Next Gen also was an investor in their two first rounds, which totaled over $2 million. Today, we’re excited to formally welcome Mwah! to the Next Gen team. 

    Green Queen: How did you first meet the Mwah team?

    Andre Menezes: I had the opportunity to meet both Claudia and Damian a couple of years ago in Singapore, while I was working at Singapore’s largest food distributor and selling other plant-based products in 2019. Both of them had established careers in the F&B industry – Damian as a chef and Claudia as a barista and mixologist. Damian also had his own culinary consultancy that helped develop plant-based gastronomy programs for hotels and restaurants, many of which were global luxury brands that had outlets in Singapore. Both of them have also been plant-based for many, many years and were working on some delicious early prototypes of Mwah! products. 

    We connected in those days (before Next Gen Foods, Mwah!, or TiNDLE even existed) and shared similar outlooks and approaches in developing great consumer food brands – that also just so happened to be plant-based. Like we’ve done with TiNDLE, Mwah! was looking at taste and texture as key drivers of a great consumer experience, and so we kept in touch and supported as mentors and helped incubate Mwah! into what it is today. 

    Courtesy Next Gen Foods

    Green Queen: Will the team be staying on?

    Andre Menezes: Damian and Claudia will remain as co-founders and lead the development of Mwah!. With the acquisition though, we see a lot of synergies and areas of opportunity for the TiNDLE and Mwah! brands to collaborate and share resources.

    Green Queen: Ice cream seems quite different from meat as a category. Why not go for plant-based fish or cheese to complement your existing products? 

    Andre Menezes: When Timo (Recker, co-founder and Chairman) and I started Next Gen in 2020, we didn’t intend to only develop one core product and stick with it. We wanted to offer a diverse range of global food brands and products that were not only great-tasting and high-quality, but also could make an impact on the planet. We started with chicken first, of course, but we’re always looking to enter other categories (including other meats, seafood, and dairy) after successfully launching TiNDLE. We always start with consumers and the emotional connection they have to food, and both delicious chicken dishes and ice cream share indulgence when it comes to that emotional experience.

    We also see immense growth in the plant-based dairy market, which is expected to reach over USD 31.5 Billion by 2028. Right now, many plant-based dairy products are focused on the source (i.e. oat milk from oats, soy milk from soy, etc.) and not necessarily on experience and flavor. What we found impressive about Mwah! is that they aren’t limiting themselves to a dairy alternative source (e.g. cashews, dates, oats, etc.), but instead are focused on the right source for the right consistency and creaminess of the product being developed.

    Gelato is a tough consistency and experience to perfect (if not one of the toughest for dairy products), but we found that in tasting Mwah! that they were able to emulate that unique flavor and creaminess of dairy. So far, we’ve seen that they’re one of the first to do this for the plant-based dairy category that rivals some of the world’s greatest ice cream and cheese makers.

    The post TiNDLE Parent Next Gen Foods Acquires UK Plant-Based Gelato Startup To Recreate ‘Memorable Falvor of Dairy’ appeared first on Green Queen.

  • aloha bars
    3 Mins Read

    Plant-based protein brand Aloha has launched “The Kona Bar,” a special edition product made from pongamia trees that supports sustainable agriculture in Hawaii.

    The new snack bar features responsibly-sourced ingredients, including Kona-grown coffee and Hawaiian-grown macadamia nuts. But the star ingredient may be Ponova oil, a sustainable plant-based oil made from the beans of ultra-regenerative, climate-resilient pongamia trees on Oahu.

    Pongamia trees

    Pongamia trees are super-trees that have been used historically for reforestation in Asia; they sequester carbon while improving soil health and water quality. The pongamia oil is manufactured by Terviva, a food and agriculture innovation company. The oil is expeller pressed and lightly refined in a process similar to olive oil – ponova oil is a rich source of healthy Omega-9 fatty acids.

    The climate-friendly pongamia trees help to convert distressed farmland into sustainable, productive acreage.

    Terviva's pongamia trees
    Terviva’s pongamia trees | Courtesy

    The bars also feature macadamia nuts from Hamakua Macadamia Nut Company and Kona coffee from Greenwell Farms, both from Hawaii’s Big Island. Hamakua Macadamia Nut Company uses environmentally friendly cultivation practices, including operating without fossil fuels. Greenwell Farms is one of Kona’s oldest and most respected coffee farms and a proponent of regenerative agriculture. It owns its entire value chain from growing to roasting and shipping.

    Aloha’s sustainability commitments

    “The launch of the Kona Bar underscores our commitment to supporting sustainable farming and agricultural practices, with Hawaii as a prime example of what the future of farming and land stewardship should look like,” Brad Charron, CEO of Aloha, said in a statement. “As we grow, we’re committed to finding new and innovative ways to use our business as a force for good. This is a critical step in delivering on our mission to create delicious and nutritious food while making a positive impact on the world.”

    The certified B Corp says it’s aiming to become Climate Neutral Certified this year. That will make it the first plant-based protein brand to obtain this certification.

    hawaii
    The Big Island of Hawaii Photo by Martin Zangerl on Unsplash

    Aloha says ten percent of proceeds from the sales of the Kona Bar will go to support the nonprofit Kupu, which works to support Hawaiian youth through land stewardship and educational programs.

    The bars are launching on mission-driven online retailer Thrive Market. “We’re thrilled to partner with Aloha, a brand that aligns with our values and our mission,” said Jeremiah McElwee, chief merchandising officer of Thrive Market. “This collaboration is a testament to the power of like-minded brands working together to create a meaningful and positive impact.”

    The post Aloha’s New Energy Bars Are Made From Climate Resilient Pongamia Bean Oil appeared first on Green Queen.

    This post was originally published on Green Queen.

  • 12 Mins Read

    No single approach will offer a silver bullet solution to all problems within the food system — no matter how large the opportunity or dire the need.

    When expectations exceed reality, outcomes that may normally be considered successes are seen as failures. I’ve been witnessing the disconnect between expectations and reality in sustainable food for a while now.

    On one side, there’s the pitch that individual startups will save the planet and take over the multi-trillion dollar industrial animal agriculture industry along the way. This side pitches the idea of food companies growing in ways only seen in the tech space, since the need is so dire and the opportunity for disruption is so massive. This has inevitably led to food startups being valued like tech startups, with expectations that the size and rate of growth will be immense.

    On the other side, there’s the reality that regardless of the amount of R&D, IP, or clever marketing tactics, all of these companies are simply producing food for people to eat. They take different amounts of time and money to scale, and they should be valued like….food companies. Maybe a premium can be applied to some with exceptional solutions to certain problems, but they are still food companies.

    Recently Beyond Meat has been painted to have lost $13 billion dollars of value; however, I would argue that it never should have been valued that highly in the first place. Historically, CPG food companies are valued between 2–5x revenues. There are outliers to that, but generally, 2–5x is the norm. Knowing this, it’s clear that at a $14 billion market cap, which was over 35x revenues, Beyond Meat was highly overvalued.

    Public market investors had expectations that were not based on reality. The reality is that Beyond Meat is a CPG food company generating ~$450M a year in revenue and selling food for consumers to eat. With 2–5x revenue being the norm, it is reasonable to expect Beyond Meat to trade at a market cap between $900M and $2.3B. If some want to price in rapid growth, then going a bit above $2.3B could make sense, but it’s hard to argue a 35x+ revenue multiple being grounded in reality.

    Now imagine the perception of Beyond if the story went like this: Beyond Meat IPOs at $800M and steadily grows its market cap to $1 billion. Retail investors who bought in early are now up 25%+, and the decisions by the company to focus on profitability are welcomed in the difficult broader macro-economic environment that’s affecting all industries worldwide. Investors now feel quite positive about Beyond Meat as it goes from being a startup to a larger, more established CPG company.

    The Reality

    Today, Beyond Meat sits at ~$1 billion in market cap, representing an ~2.2x revenue multiple — right in the range of historical norms for CPG companies.

    Despite this valuation being more appropriate, the story of Beyond Meat is one of failure and loss for those with greater expectations. To them, it doesn’t matter that this small food startup became a billion-dollar organization. Instead, it is a major letdown.

    Now, when looking at other areas within the sustainable food ecosystem, the goal should be to set realistic expectations, so companies progressing our food system are not portrayed as meaningless failures.

    So how do current expectations in cultivated meat mesh with reality? Let’s talk about it.

    Big Things are Happening in Cultivated Meat

    After many years of splashy headlines and big promises, the cultivated meat space has recently seen some major progress. In 2022 alone, there seemed to be a new major event happening worldwide on a continual basis.

    Some developments to note are:

    1. January: San Diego-based cultivated seafood company BlueNalu collaborated with sushi restaurant operator Food & Life Companies to develop bluefin tuna for Food & Life Companies’ 1,000+ restaurants across Japan, South Korea, Taiwan, Hong Kong, Singapore, Thailand, and mainland China.
    2. February: One of Asia’s largest food and biotech companies, CJ CheilJedang, is entering the cultivated meat industry in partnership with KCell Biosciences, a startup focused on cell culture media. The companies will construct a cell culture media facility in Busan, South Korea.
    3. March: Israel-based SuperMeat announced a strategic partnership with large Japanese food manufacturing company Ajinomoto to pool R&D capabilities for the development of cultivated meat products.
    4. April: Mogale Meat and Mzanzi Meat develop Africa’s first cultivated chicken breast and beef burger, respectively.
    5. May: Israel-based cultivated meat company MeaTech 3D announced that its subsidiary Peace of Meat signed a strategic agreement with mycoprotein company ENOUGH to develop hybrid cultivated and fermentation-based products.
    6. June: China-based cultivated meat startup Joes Future Foods debuted China’s first cultivated pork belly at the New Technology Conference.
    7. July: Shiok Meats signs a partnership with Minh Phu Seafood, Vietnam’s largest conventional shrimp company, to develop a combined R&D facility focused on cultivated meat.
    8. August: Singapore-based Gaia Foods (a subsidiary of cultivated seafood company Shiok Meats) and Switzerland-based Mirai Foods have entered a strategic partnership to develop cultivated beef. The companies will collaborate on ingredients manufacturing and distribution, with plans to launch cultivated beef in Singapore and Switzerland.
    9. October: Vow Foods opened the largest cultivated meat facility in the southern hemisphere.
    10. November: APAC Cellular Agriculture signs MOU solidifying “cultivated” nomenclature.
    11. NovemberTasting of GOOD Meat at COP27.
    12. December: GOOD Meat’s cultivated chicken becomes the first cultivated meat to be sold in a butchery.

    *Thanks to our friends at The Good Food Institute for this list!*

    With all of this buzz, it feels as if this potentially game-changing solution may be in the mouths of US consumers soon. This felt even more feasible after the US FDA gave the green light to UPSIDE Foods’ cultivated chicken, showing signs of major regulatory progress required for the sale of cultivated meat.

    One additional announcement that caught major attention, including my own, was the move by Believer Meats to build the world’s largest cultivated meat plant in Wilson, North Carolina. This 200k square foot facility is expected to cost ~$124M to build (a fraction of the company’s most recent $347M Series B) and produce 10,000 metric tons of cultivated meat.

    This Feels like a Big Deal

    On an absolute basis, this is a big deal. Ten thousand metric tons of meat is a lot.

    To put this into perspective, consider the following:

    • 10k metric tons is equal to 11,023 US tons (because in the US, it’s always fun to make things make slightly less sense), or roughly 22M pounds (that’s a lot of chicken).
    • How many chickens exactly? Since the average broiler chicken is 6.46 lbs and accounts for 20% loss during processing, the average amount of meat per chicken is roughly 5.17 lbs. Therefore, Believer Meats would be saving the lives of 4.27M chickens annually with this one facility. To put that into perspective, if all of those chickens were their own city in the US, they’d make up the second-largest city in the country, only behind New York City.
    • As for feeding people, chicken consumption per capita in the US was at 100.6 lbs, meaning this facility could satisfy chicken demand for 219,147 people. That’s the same as feeding the entire city of Tacoma, Washington.

    Saving over 4M lives and feeding over 200k people would be quite the achievement.

    But What About the Financials?

    Believer Meats is far from a charity, and there have been many question marks around the economics of cultivated meat companies, especially given the large amounts of investment dollars they’ve raised.

    To understand what potential revenue from this plant could look like, we can apply a basic approach:

    • Start with current chicken prices, which sit at $2.72 per pound for chicken breast
    • Apply a premium to account for Believer Meats being one of the first companies in history to offer cultivated chicken to consumers. Picking this premium isn’t easy, but I’m making the assumption that much of the first chicken products created from this facility will be sold in high-end restaurants (or to consumers who can afford a major premium). If we apply a 5x premium, then we can assume Believer Meats is selling products for $13.60/pound. Maybe it will be higher, maybe it will be lower. I have no clue.
    • At $13.60/pound, and 22M pounds, that represents annual revenues of ~$300M

    That topline number of $300M from one facility can vary widely depending on the assumptions and the approach used by Believer. Pricing assumptions can be changed, and even slight changes in the expected inclusion rate of cultivated cells versus plant-based ingredients can drastically change the amount of product available for sale (i.e., 100% cultivated vs 50/50 cultivated/plant-based).

    $300M may be both a high or low estimate, but either way, the path to real dollar creation is much more tangible. Considering Believer Meats mentioned an ability to create chicken breast for $1.70, as well as ~$6M of annual salaries for plant employees, it also seems positive unit economics are not out of the question (though I am a bit skeptical on the $1.70 number).

    Additionally, while the company may have had to foot the bill for this first major facility, this will allow them to prove out the operations and economics of a cultivated meat facility, thus allowing them to tap into traditional capital market mechanisms for CAPEX financing needs for future builds (i.e., project finance/debt).

    So it looks like the end of industrial animal agriculture is here, and that the economics are on the side of cultivated meat, right?!

    Time to Reel In Those Expectations

    As amazing as these achievements are for an individual company, it’s just the very beginning for the space in terms of true impact on the food system.

    In terms of overall consumption, the Believer Meats production of 10k metric tons of chicken represents just 0.02% of the ~49M metric tons of meat produced in the US annually, and 0.008% of the ~133M metric tons of poultry produced globally.

    And that’s just the US meat and global poultry market for comparison. When we look at the overall meat space, that number jumps up to almost 350M metric tons plus another ~200M metric tons of seafood.

    Now if we assumed any cultivated meat facility could produce 10k metric tons of meat or seafood annually, then to fill the demand for the ~500M metric tons currently produced would require 50,000 facilities. At $100M per facility (~20% lower than the Believer Meats facility cost), that implies ~$5 trillion (with a “T”) of CAPEX costs for the facilities alone.

    Let’s also not forget that meat consumption is not static and is expected to rise dramatically over the next few decades to 555M metric tons (from the ~350M today). This 205M metric ton increase, alone, would require ~$2 trillion of CAPEX costs for the facilities (this doesn’t account for increased seafood consumption).

    To date, total investments in alt proteins over a 12-year time frame are sitting around $15B. At this rate of investment, it will take about 3,000 years to fund the CAPEX needed to create enough cultivated meat facilities that would replace industrial animal ag in its entirety.

    Yes, in reality, cultivated meat companies will be able to tap into traditional capital markets (i.e., project finance) once operations are more proven, so larger dollars will flow into the space faster.

    And yes, these are all projections with major assumptions, and “garbage in, garbage out.” So just for the sake of it, let’s say I’m off wildly on the $7+ trillion CAPEX need and cut it by 85%. That’s still $1 trillion of CAPEX needed.

    No matter how you look at it, the reality is that cultivated meat is not on the cusp of completely upending the traditional animal ag market.

    Industry Insiders Know This

    Every person I know in the cultivated meat industry is well aware this is only the beginning. There is not some false understanding from the sustainable food community thinking otherwise.

    So What’s the Issue?

    If industry insiders (i) know about the massive hurdles to be overcome in cultivated meat, AND (ii) that knowledge is widely shared with the public, expectations should be based on reality. This would also mean that no one will be disappointed with the progress of the cultivated meat space. Right?

    Wrong.

    The real problem that exists, resulting in widespread unrealistic expectations, is the portrayal of each sustainable food innovation as if it were the single, silver bullet solution to all issues facing the food system.

    This means each time any new potential solution is presented, it is examined in a silo. This silo shows what it will take for that single solution to solve all of the problems that exist, which unsurprisingly results in the new solution facing impossibly large hurdles.

    This first occurred with plant-based meat alternatives being portrayed as a silver bullet solution. When realism set in, it left the market viewing startups that turned into $1B+ organizations as failures.

    This framing can be applied to any form of sustainable food solutions with the same outcome. Whether it’s plant-based meat, precision fermentation, biomass fermentation, molecular farming, vertical farming, etc. — there is an endless list of sustainable food innovations that will all be presented with impossibly high hurdles to overcome if they are expected to be the one, silver bullet solution to the food system’s problems.

    The reality is that whether it’s plant-based meat or cultivated meat or precisions fermentation dairy, each of them is one of the many solutions needed to shift to a sustainable food system and it will serve its intended purpose — to reduce the reliance on industrial animal agriculture as the sole source of real, animal-based meat and seafood for those (i) not willing to give it up and (ii) open to eating products produced in this manner.

    The New Expectation

    Going forward, expectations for any sustainable food solution should be based on the reality that it will be one of many solutions filling a need in the food system. No single solution will take over the entire market, address every need, or attract every consumer. Instead, all solutions will collectively work together to take a bite out of the currently unsustainable multi-trillion-dollar global food system with the hope that they all help us reach a symbiotic relationship with the planet.

    Additionally, continual innovation will occur within each industry, allowing them to become better, more efficient, and more desirable to consumers. There will also be new innovations that emerge, unlocking entirely novel opportunities that could improve our food system further. Maybe these new innovations will address major hurdles in existing segments (i.e., growth media costs, bioreactor scalability, downstream processing costs, etc.) or create new categories entirely.

    As investors in the sustainable food space, we have seen first-hand how new innovations emerge over time, opening up entirely new opportunities. The types of companies and technologies in which we invest today are noticeably different than what we invested in back when the industry was first emerging. And, we fully expect to see opportunities five years from now being different from what we see today.

    The one timeless consistency is that each new innovation has the potential to help catalyze a shift to a more sustainable food system.

    Where Do We Go From Here?

    For cultivated meat, for example, the new expectation should be that it will likely be a smaller fraction of the overall animal agriculture market. How small? — That’s not clear. Maybe it becomes 1% by 2050 (5M+ metric tons) and there are only a handful of successful companies in the space owning a share of the $50B+ cultivated meat industry. Or, maybe It’s 10% (50M+ metric tons) and there are many successful companies owning a share of a $500B+ industry.

    A lot of that depends on continued innovation, cost reductions, and scale, but either way, the cultivated meat industry has a chance to be one of the many food system solutions our planet needs, while also creating a multi-billion dollar industry that does not currently exist.

    The same can be said about the myriad of potential solutions — they may all have a chance to be one of the many food system innovations we need with the potential to create meaningful impact and value. And none offer a silver bullet solution.

    Without question, hyperbolic statements will continue to be made making us think otherwise:

    • Startups will continue to make grand claims to attract investors
    • Investors will continue to hype up their portfolio companies
    • Activists and non-profits will continue to emphasize the urgency
    • And, reporters will continue to create clickbait headlines that are overly optimistic or pessimistic, because expectations based on reality are boring

    Despite this, reality will sit somewhere within all of this noise, so we must constantly remind ourselves that (i) many solutions are needed and (ii) the opportunity is so large that all solutions have the chance to create meaningful impact and value.

    A failure to shift our expectations will result in widespread disappointment and possibly lead to an underinvestment in innovations with legitimate potential for positive change.

    Set expectations, accordingly.

    A version of this article was previously published on Medium

    The post Expectations vs. Reality: It’s Time To Change The Investor Conversation Around Sustainable Food appeared first on Green Queen.

  • 3 Mins Read

    Eat Just Inc has launched new ready-to-eat frozen meals made with its popular plant-based folded egg, partnering with cult condiment brand Fly By Jing on the first flavor.

    Eat Just’s plant-based egg division, JUST Egg™, has debuted a new line of frozen breakfast ready meals dubbed JUST Egg Meals featuring vegetables mixed with bites of its JUST Egg folded products in what the company describes as “only fully plant-based breakfast options available at major retailers”. The range will roll out at Whole Foods Market stores across the country this month, followed by a wide selection of other retailers over the next months.

    “Developing innovative and delicious new ways to eat JUST Egg is at the core of what our team does every day, and I’m immensely proud of this new product because it gives people a simple and quick way to enjoy a wholesome and flavorful plant-based meal to start the day,” said Chef Nate Park, JUST Egg’s director of product development.

    The range’s first flavor, Chili Crisp, features plant-based egg bites, sugar snap peas, roasted red pepper, and carrots mixed with the cult condiment Fly By Jing, a spicy Sichuan sauce made from chillies, fermented black beans and crispy shallots.

    “We were thrilled to partner with Fly By Jing to add a bold, savory spice to the dish, which ties it all together,” added Park.

    Convenient, high in protein and plant-based

    JUST Egg Meals are sold in the freezer section and are priced at $7.99-$8.99. The company says the meals are convenient and simple to require- according to a statement: “simply toss it in a skillet straight from the freezer”.

    Each meal offers 9 grams of protein which primarily comes from mung beans, just like the company’s other plant-based egg products, and marketing materials point out this is higher than the average chicken egg per serve (around 6 grams of protein for a large-sized egg).

    According to the company, the brand has achieved its highest-ever household penetration since launching four years ago and its JUST Egg Folded product, which came onto the market in 2020 grew 24% in dollar sales in 2022 and has one of the highest repeat purchase rates among consumers in the frozen breakfast meal set.

    Courtesy Eat Just Inc.

    ‘Plants don’t get the flu’

    The US has been undergoing egg shortages after a series of deadly avian flu outbreaks. Faced with empty supermarket shelves or eggs on sale at record prices, consumers have been cutting back on chicken egg purchases and exploring alternatives such as Eat Just’s liquid and folded products made from mung beans, which are sold nationwide.

    The company went on a marketing spree, taking out an ad in the New York Times with the cheeky slogan “plant don’t get the flu” and taking over digital ad space at 800+ EV charging stations outside major supermarkets.

    “We’ve reminded consumers and customers… that we’re available,” Matt Riley, Eat Just’s chief revenue officer told CNN. “Solving for crises like this is one of the primary motivations for us to exist.”

    A focus on profitability

    Last week, founder and CEO Josh Tetrick announced the company was shaving off close to 18% of its employees (about 40 staff members, most of them US-based). Tetrick said that despite record sales volume for their liquid and folded plant-based egg products, in part driven by the chicken egg shortages, Eat Just’s egg division is still not profitable and his 2023 focus was getting there. He said that other measures towards that goal included reducing ingredients costs and increasing production efficiency. “We should be at the place where it’s able to operate profitability without the need for any external capital,” Tetrick said.

    The post Plant-Based Egg Leader Debuts New Frozen Breakfast Meal Range Amidst Focus On Profitability appeared first on Green Queen.

  • burger

    3 Mins Read

    Cargill, the world’s third largest meat producer, has recently announced its extending its partnership with food tech startup Cubiq Foods to co-develop and commercialize plant-based fat technologies.

    The agreement aims to accelerate the commercialization of Cubiq’s novel fats, including its Go!Drop emulsion — a fat designed to bring a more realistic taste and texture to plant-based meat and dairy products.

    Plant-based fat

    Cargill invested in Cubiq last spring when it joined a $5.75 million funding round led by Moira Capital Partners, SGEIC and Newtree Impact. Cargill, which saw revenue of more than $114 billion last year, participated in the round and announced its plans to extend its partnership with the Barcelona-based fat producer.

    Go!Drop is made from an emulsion of vegetable oils and water and Cubiq says it can be widely used across food product development. The partnership also gives Cargill access to Cubiq’s existing plant-based portfolio of ingredients that include plant proteins and texturizers, along with traditional fats and oils.

    Cubiq Founders Jordi Bladé, Dr. Raquel Revilla, and Andrés Montefeltro
    Cubiq Founders Jordi Bladé, Dr. Raquel Revilla, and Andrés Montefeltro | Courtesy

    “By embracing new technologies, harnessing our full ingredient toolbox, and leveraging our global application knowledge, we’re poised to accelerate the development of the next-generation plant-based products,” Vivek Cherian, Meat and Dairy Alternatives Category Leader for Edible Oils at Cargill, said in a statement. 

    “Signing the joint development and commercial agreements represents the next phase in our partnership, as our groundbreaking technology is now ready for application development, production scale-up and widespread commercialization – roles that Cargill is uniquely equipped to help us advance,” said Andrés Montefeltro, Cheif Executive Officer at Cubiq Foods. “Together, we’ll help food manufacturers and consumers reimagine what’s possible in the quest for healthy and satisfying foods.”

    Closing the ‘flavor gap’

    The partnership represents a joint effort to close the “flavor gap” in plant-based foods by replicating the visual appearance, mouthfeel, and bite of conventional animal fat.

    Cargill CEO David MacLennan. Photo by Cargill.

    Cargill says most current plant-based options do not meet consumers’ expectations for taste and quality. It says Cubiq’s line of “smarter” fats can help to enhance the flavor profile of plant-based products, while also offering many advantages over traditional animal fats and tropical oils used in food production.

    The partnership builds on the increasing commercialization of plant-based food technologies. According to a report by Meticulous Research, the global plant-based food market is expected to reach $74.2 billion by 2027, growing at a CAGR of 11.9 percent from 2020 to 2027.

    This growth is driven by several factors, including increasing consumer demand for plant-based products, concerns over the environmental impact of meat production, and advancements in food technology.

    The post $114 Billion Meat Giant Cargill Partners With Cubiq Foods to Scale Plant-Based Fat appeared first on Green Queen.

  • 3 Mins Read

    Dutch cultivated meat pioneer Mosa Meat has announced a partnership with its investor Nutreco to develop a cell feed supply chain.

    The Letter of Intent signed with Nutreco will support the development of a cell feed supply chain that can expedite production and scalability, Mosa Meat announced. Nutreco is an expert in developing sustainable feed solutions for animal agriculture.

    Food-grade cell feed

    The company’s scientists say they have successfully substituted more than 99 percent of the base cell feed by weight with food-grade ingredients marking an industry milestone for cultivated meat development. According to Mosa, it’s proof that producing high-quality cultivated meat with food-grade ingredients can be done at a lower price point.

    A burger made from Cultured Beef, which has been developed by Professor Mark Post of Maastricht University in the Netherlands. PRESS ASSOCIATION Photo. Issue date: Monday August 5, 2013. Cultured Beef could help solve the coming food crisis and combat climate change. Commercial production of Cultured Beef could begin within ten to 20 years. Photo credit should read: David Parry/PA

    “Our partnership with Nutreco represents our commitment to further develop the cellular agriculture supply chain and bring down costs,” Maarten Bosch, CEO of Mosa Meat, said in a statement. “Our scientific results are an industry first, proving that food-grade ingredients perform equivalent to pharma-grade in cell feed. This will represent a significant cost savings as we scale up production.”

    “At Nutreco, we innovate to produce feed ingredients more sustainably and create feed formulations optimised to deliver the highest yields for protein producers. Through our collaboration with Mosa Meat, we mastered a crucial step in creating affordable, food-safe and scalable nutritional solutions for the cultivated meat industry,” said Susanne Wiegel, head of the Alternative Protein Programme at Nutreco

    The announcement builds on a REACT-EU grant Mosa Meat and Nutreco received in 2021 for their collaborative Feed the Meat project aimed at reducing cultivated meat costs while also filling out the supply chain for scalability.

    Reducing media costs

    One of the main challenges of cultivated meat is the high cost of producing the cell feed — the nutrient-rich broth that cells are grown in. Mosa Meat says recent experiments saw fully maturing beef cells that were fed solely with food-grade substitutes — delivering similar cell density to cells fed with more costly pharma-grade material.

    Photo by Louis Reed at Unsplash.

    Mosa Meat is a pioneer in the cultivated meat category; in 2013, it unveiled the world’s first hamburger made from lab-grown meat, which cost €250,000 to produce. Since then, the company has been working on reducing the cost of producing cultivated meat to make it more affordable and accessible. In 2022, it published its technique for replacing the controversial growth medium, fetal bovine serum, in the journal Nature Food. It achieved that milestone without genetically altering cells.

    The post Mosa Meat’s New Cell Feed Supply Chain Will Bring Cultivated Meat Prices Closer to Conventional appeared first on Green Queen.

    This post was originally published on Green Queen.

  • heura burgers
    3 Mins Read

    Spanish-based plant-based food tech startup, Heura, says it increased its international sales by more than 260 percent in 2022, defying category dynamics.

    Despite the global economy and the stagnant U.S. plant-based market, Heura says it increased its turnover by 80 percent in 2022 with a focus on technology and sustainability as it helps to lead the European plant-based movement.

    Dominating Spain’s plant-based meat category

    Heura says its efficient and scalable model has led it to dominate Spain’s plant-based category growth, owning 80 percent of the increase.

    It’s also seeing rapid expansion across Europe; in 2020, only six percent of its sales occurred outside Spain; by 2021 it hit 12 percent, and 23 percent in 2022.

    Heura sausages | Courtesy

    The U.K. saw a sixfold increase in availability last year with one of the region’s leading supermarket chains, Waitrose stocking the products. France’s increased interest in plant-based options at major retailers Super U and Casino Géant contributed to 30 percent of the overall plant-based category growth in France. Heura says it also increased sales in Italy by 240 percent and expanded in the DACH region, with major retailers Billa (Austria) and Migros (Switzerland) stocking its products.

    Heura says it has become the brand with the highest level of repeat buys in the plant-based category at more than 50 percent. The company dominates the top-ten plant-based SKUs in Spain at 60 percent. It says new product innovations contributed to 37 percent of sales last year. H

    Food service partnerships including Domino’s Pizza in Spain, Dishoom in the U.K., and Poke House in Italy have helped to open up new revenue streams and product development. Heura also partnered with companies including Irco Restauración Colectiva, Iberoject, and Tutti Food Group to increase plant-based options in schools and airlines.

    Advancing plant-based food tech

    Heura also launched Good Rebel Tech (G.R.T.) — a new approach to food technology that provides a competitive advantage and solves some of the biggest category challenges including nutrition density and taste. Heura says G.R.T. delivers on taste and texture — something it says is evident in its more than 50 percent repeat rate and that its customer base is 90 percent flexitarians.

    Heura founders Bernat Ananos Marc Coloma
    Heura founders Bernat Ananos (l), Marc Coloma (r) | Courtesy

    “The last year was a pivotal one for Heura,” Heura co-founder and CEO Marc Coloma said in a statement. “Each step forward for Heura in 2023 is designed to lead a net-positive food system by 2028. We are working to democratize delicious nutrient-dense foods that have a positive climate impact for people across Europe. Our experienced R&D team and world-leading academic and expert partners are creating proprietary technologies that will change the face of the plant-based food industry and unlock the true potential of the movement.”

    The banner year for Heura also comes as it joined the UN Global Compact effort, working to develop more sustainable technologies for a net-positive food system. Heura will conduct comparative LCAs for all of its products later this year.

    The post Heura Saw a 260% Increase In International Vegan Meat Sales in 2022 appeared first on Green Queen.

    This post was originally published on Green Queen.

  • WNWN chocolate
    3 Mins Read

    WNWN Food Labs, the world’s first producer of sustainable, cocoa-free chocolate, has raised $5.6 million in a Series A financing round that it says will help the company scale up its manufacturing for a retail launch later this year.

    WNWN’s raise was led by the food tech VC, PeakBridge with participation from FoodLabs (formerly Atlantic Food Labs), Geschwister Oetker Beteiligungen Group’ subsidiary, Martin Braun-Gruppe, as well as Mustard Seed Maze, PINC, Investbridge AgriTech, and HackCapital. 

    ‘More ethical future of food’

    “This blend of VCs gives us deep and strategic food tech experience to make a significant positive impact, and with PeakBridge’s partnership and team, we are well on our way to create a tastier, more ethical future of food,” WNWN CEO Ahrum Pak said in a statement. “This investment is also very timely given the new European ban on cocoa linked to deforestation, as WNWN can reduce the cocoa supply chain’s strain on the planet and on cocoa farmers entrenched in poverty.” 

    WNWN Team
    WNWN Team | Courtesy

    WNWN is making a cacao-free product that looks, tastes, melts, snaps, and bakes like conventional chocolate but its product is free from palm oil — an unsustainable ingredient common in chocolate bars. WNWN says its products are also lower in sugar than conventional chocolate, contain no gluten, and are free of caffeine, which naturally occurs in conventional chocolate in small amounts.

    But the main upsell WNWN is focused on is the reduced carbon footprint of its chocolate. Made from plant-based ingredients including cereals and legumes, WNWN says its cacao-free chocolate products produce 80 percent fewer carbon emissions than conventional chocolate based on ints own lifecycle analysis.

    ‘Conventional supply chains can’t keep up’

    WNWN has launched several limited-run products in the last year that sold out within hours of launching — the first was dark choc thins and the second, dubbed ‘Waim! bar’, was a spin on the classic Daim bar. The company says with the new funding, it can scale and bring more products to market.

    Waim bars
    Waim bars, courtesy WNWN

    “Ingredient innovations like WNWN’s are key to building a more resilient, equitable, sustainable food system, and this in turn opens the doors to other goals like responsible production and consumption,” said Erich Sieber, Founding Partner at PeakBridge. “Not only does WNWN’s product have the potential to offer health benefits and address sustainability concerns, but it also opens up a world of exciting flavor possibilities. We are confident that WNWN will lead the charge in this category and are proud to be part of this journey.” 

    WNWN CTO Dr. Johnny Drain says the funding is “validation of our science” and the company’s ability to scale. “With demand for chocolate said to be increasing year over year, conventional supply chains can’t keep up, at least not at the expense of the planet and human dignity.”  

    The post WNWN Raises a $5.6 Million Series A for Its Cacao-Free Chocolate and a ‘More Ethical Future of Food’ appeared first on Green Queen.

    This post was originally published on Green Queen.

  • Meatiply's cultivated duck meat
    3 Mins Read

    A new study suggests that there is a positive correlation between consumers’ psychological well-being and their willingness to consume cultivated meat.

    Researchers at Singapore Management University’s School of Social Sciences surveyed 948 Singaporean adults in June and July 2022 using an online questionnaire with the goal of examining the relationship between psychological well-being and their willingness to eat animal meat derived from cellular agriculture. The findings were published in the peer-reviewed journal Science Direct.

    This marks the first time that research has shown there is a positive relationship between a person’s psychological well-being and their willingness to consume cultivated meat. The results reveal that the increased willingness of the participants to eat cultivated meat can be further explained by a better understanding of the benefits of cultivated meat including its safety and its societal benefits.

    Higher well-being and willingness to eat cultivated meat are linked

    Professor Dr. Angela KY Leung, Ph.D., who co-led the study, told Green Queen that the general hypothesis they had when conducting the study was a positive correlation between psychological well-being and acceptance of cultivated meat. 

    Leung said well-being was defined as a positive mental state. “This has to do with people’s cognitive and affective evaluations of their life. The cognitive component concerns people’s appraisal or perception of life satisfaction, and the affective component concerns their emotional experiences (i.e., the experience of higher levels of positive emotions or lower levels of negative emotions).”

    Sample questions included: “In the past month, how often did you feel…(never to everyday)?” with participants able to choose between the following answers: Happy; Interested in life; Satisfied with life; That you liked most parts of your personality; That your life has a sense of direction or meaning to it.

    The researchers told Green Queen that while they were not very surprised by the findings, it was encouraging to see the research providing empirical evidence to support a positive relationship between people’s psychological well-being and their receptivity to the novel food of cultivated meat for the first time.

    Leung said: “It is also very insightful to find out why higher well-being people tend to have a more accepting attitude towards cultivated meat – their higher willingness is driven by the perception that cultivated meat is as healthy and nutritious, as safe as, and has the same sensory quality as conventional meat, and is beneficial to the society.”

    Marketing takeaways for cultivated meat companies

    When asked what cultivated meat companies and ecosystem players could take away from this research, Leung said that startups should focus on the well-being profile of their future consumers, target higher well-being individuals, and make use of information related to health and safety issues and societal benefits afforded by cultivated meat in their information campaigns and company materials.

    She added that they should also look at country happiness and well-being indices to focus their marketing efforts on geographies with a higher happiness index. “They can seek to first promote greater awareness of cultivated meat in these societies, and over time higher public acceptance can be picked up by other countries to make advocacy efforts more effective.”

    Leung said that cultivated meat companies should consider leveraging search advertising in their go-to-market strategies, targeting higher well-being consumers in ads and other digital marketing campaigns who are likely to perform online searches using keywords such as ‘healthy meat’, ‘safe meat’ and ‘environmentally friendly meat’.

    Asian consumers open to cultivated meat

    There is still very little research on consumer attitudes towards cultivated meat though separate studies conducted in Singapore and Hong Kong suggest Asians have a positive initial view of such products compared to Australians, with one study showing that Indian and Chinese people have a more favorable view of the technology than participants in the US. According to findings published last year, “food neophobia and uncertainties about safety and health seem to be important barriers to uptake of this technology.”

    The post Higher Well-Being Consumers Are More Willing To Consume Cultivated Meat, Shows New Research appeared first on Green Queen.

    This post was originally published on Green Queen.

  • 3 Mins Read

    Israeli cultivated meat manufacturer Aleph Farms has announced the acquisition of a manufacturing facility in Modi’in, Israel, and related assets from biotechnology firm VBL Therapeutics, along with a new manufacturing agreement with ESCO Aster in Singapore.

    Aleph Farms says it’s moving closer to increasing its production capabilities with its two new arrangements in key markets. Israel ranks second globally in cultivated meat investments, and Singapore is currently the only country that has approved cultivated meat for sale and distribution.

    Aleph says it plans to bring its thin-cut steak grown from cells to market in both Israel and Singapore.

    A clear roadmap to scalability

    “Building up production capacity quickly in those locations while keeping capital investment lean provides a clear roadmap to scalability,” Didier Toubia, CEO, and co-founder of Aleph Farms, said in a statement. “Beyond Israel and Singapore, we plan on building additional strategic assets worldwide as part of our effort to bring more security and resilience to food systems.”

    aleph farms facility
    Aleph Farms’ 65,000-square-foot facility in Rehovot, Israel. Photography: Amit Goren

    Aleph Farms’ acquisition of VBL Therapeutics’ assets and technology transfer from its pilot production facility in Rehovot, Israel, will increase local output in response to the rising demand for quality protein, the company says. Dror Harats, MD, Chief Executive Officer of VBL, said its state-of-the-art facility will enable Aleph Farms to “unlock value and ramp up local production.”

    ESCO Aster is the world’s first and only company with full regulatory approval from a government authority to produce cultivated meat for commercial sales and consumption. It works with California’s Eat Just to produce its cultivated Good Meat, the only approved cultivated meat for sale in the world.

    Aleph Farms aims to be the second; it will work with ESCO Aster to expand production in Singapore. The partnership will enable the company to work towards its goal of establishing agri-food capabilities that can satisfy 30 percent of Singapore’s nutritional needs locally and sustainably by 2030.

    “We are proud to be working with Aleph Farms to bring its cultivated steak to Singapore,” said Xiangliang (XL) Lin, CEO of ESCO Aster and Deputy CEO of ESCO Lifesciences Group. “As part of our contract manufacturing MOU, we will work together with religious authorities on obtaining a halal certificate for our facility, enabling our collaboration with Aleph to expand to even more of the broader region.”

    Cultivated meat in Israel

    The demand for sustainable protein such as cultivated meat is on the rise globally as concerns about the food system continue to point to necessary shifts in the agricultural sector.

    Aleph Farms Cultivated Beef Steak
    Aleph Farms’ aims to bring its kosher-certified cultivated steak to market this year. | Courtesy

    According to a recent report by Meticulous Research, the cultivated meat market is expected to grow from $12.9 million in 2020 to $572.5 million by 2030. The report also notes that the Asia Pacific region is expected to grow at the highest CAGR due to the increasing demand for meat alternatives.

    Israel continues to be a leader in the cultivated meat category, according to a recent report from the Good Food Institute. The report notes a 130 percent increase in early-stage Israeli-alt protein companies between 2021 and 2022, and last year, Israeli-based cultivated meat companies raised more than $450 million — second only to the U.S.

    The post Aleph Farms Increases Its Cultivated Meat Capabilities With 2 Key Moves appeared first on Green Queen.

    This post was originally published on Green Queen.

  • 3 Mins Read

    Beyond Meat founder Ethan Brown spoke to analysts during an earnings call with confidence and optimism for 2023, promising to better market the health profile of its products, improve the taste of one of its “core platforms” and lower prices.

    It’s hard to argue with the fact that the company had a rough 2022 but after releasing better-than-expected results thanks to improved gross margins, Beyond may be turning a corner.

    “As we navigate current conditions, we remain intently focused on positioning Beyond Meat to capture the vast opportunity to be a major protein provider in the $1.4 trillion meat industry and play a leadership role in transitioning global consumers to delicious plant-based meats in support of critically important health, climate, environmental, and animal welfare objectives”, Brown said in a statement.

    BYND performance in numbers

    In its latest earning reports, Beyond shared that fourth-quarter revenues are down 20.6% year on year, with net revenues at $79.9 million. While revenues are down 9.8% at $418.9 million for the full year of 2022 aswell, with net losses at $366.1 million, annual performance met the earnings expectations range of $400 to $425 million set by the company last October.

    The stock may still be a ways off its May 2019 IPO price of $25, the BYND stock has rallied of late, closing at $18.77 yesterday (February 27) from a low of $11.82 in November.

    In a bid to strengthen the company’s position, Brown outlined a strategy that looks to reduce operational expenses and improve margins. The company reduced its headcount by close to 20% this past October, is decreasing some marketing efforts and focusing on more targeted campaigns for key demographics, is lowering the number of co-packers it works with in North America from 8 to 3 and says it is reducing its inventory by 17%.

    From growth above all to long-term sustainability

    Brown told analysts that he believes the changes the company has made to transition from an “operating model that prioritizes growth above all” to a  “sustainable long-term growth” model are working. “We have confidence that the efforts properly done will over time generate outsized gains,” he said. “We are demonstrating clear and meaningful early progress.”

    Brown spoke about the work the company continues to do to decrease product pricing: “As our volumes increase and we start to take advantage of some of the manufacturing improvements we’ve made and start to get to some of the lower-cost ingredients that we’ve been able to negotiate, you’ll start to see a more sustained, lower cost product.”

    On the subject of cashflow CFO Lubi Kutua kept things open-ended, saying the company would go out for funding “if it makes sense for us to do some sort of a raise and put more of a buffer on the balance sheet” adding that the company says it plans to be cash flow positive by the second half of the year.

    “Skeptics, rarely, if ever, make progress happen”

    Concerns around the future of the US plant-based meat industry can feel like misinformed media hype, with Beyond competitor Impossible Foods experiencing strong growth and markets like Asia showing steady and long-term potential.

    Seth Goldman, founder of Honest Tea and Chairman of the Board at Beyond shared his thoughts on the company’s evolution to date and commented on its naysayers in a social media post today, writing: “As with any disruptive idea, there will be skeptics. It’s easy to second-guess the innovator – and since most start-ups don’t work out, skeptics often get to claim they were right. But skeptics rarely, if ever, make progress happen, and we certainly can’t rely on them to reinvent our grossly distorted food system. As BYND continues to make advances, such as Beyond Steak, it becomes easier to envision a day when our grandchildren will find it hard to believe our diets were centered around a system that relied on the misery and slaughter of billions of sentient creatures – animals that have as much personality and desire to live as the dogs and cats we welcome into our homes.”

    The post Beyond Meat Turns A Financial Corner, Promises Lower Prices and Healthier, Tastier Products in 2023 appeared first on Green Queen.

    This post was originally published on Green Queen.

  • Luya Foods
    3 Mins Read

    As Luya Foods brings its vegan meat made from soy milk waste to the largest Swiss retailer, Migros, a Singapore startup secures funding to expand its soy milk waste production.

    Swiss-based Luya Foods says its new marinated vegan meat brings authentic flavors to home chefs “for anyone looking for a healthy and sustainable alternative” to conventional meat. Luya cites the juicy texture of its new products as being perfect for marinating and seasoning. The new offerings include Teriyaki, Curry, and Nature Chunks.

    Luya upcycles organic okara — the by-product from tofu and soymilk production — in its vegan meat, which is also made from mycelium and chickpeas. It says more than 14 million tons of okara are wasted globally every year.

    Mycelium-based and minimal ingredients

    Luya, a 2021 spin-off of the Bern University of Applied Sciences, says it is on a mission to create a new generation of alternative protein using a patent-pending proprietary mycelium fermentation platform.

    luya
    Luya launches new vegan meat products | Couretsy

    The new products come as Luya’s pilot plant in Bern readies to go live; it will expand the brand’s fermentation capacity and build a fully automated processing line. “With the new line throughput will be drastically increased and the production capacity for growth plans in 2023 and 2024 will be secured”, said co-founder Tobias Kistler. The new facility will help the brand expand its product offerings.

    According to Luya, it has earned support from professional chefs as well as home cooks. For them, the quality lies in the purity of the product — all-natural ingredients that are free from additives.

    “We have spoken to a lot of consumers after our retail launch in May 2022 to understand how Luya is perceived and have incorporated the consumer feedback in the design update of our packaging”, co-founder Flavio Hagenbuch said in a statement.

    An assessment conducted by the independent sustainability consulting firm Eaternity found Luya’s production reduces CO2 by 94 percent compared with conventional beef. Water usage is reduced by more than 53 percent. Luya is one of only a handful of companies to receive the coveted three-star label from Eaternity for its outstanding environmental record.

    Soy milk waste market

    The news comes as Singapore-based SoilLabs raises $370,000 USD in Seed funding from Japan’s Sanyo Chemical and Singapore’s Hafnium Ventures to expand its okara protein.

    luya
    Luya’s new products hit major Swiss retailers | Courtesy

    “The funding gives us a strong platform for both the commercialisation of our current technologies and building a strong pipeline of complementary technologies and end product applications,” Mauro Catellani, CEO of SoiLabs said in a statement.

    SoilLabs uses okara in cheese and soup products. It recently signed an MOU with Sanyo Chemical for product development in Japan.

    “With Sanyo’s investment, it also brings with it a close collaboration with a strong industrial player and we look forward to working in partnership with them as we develop the Japanese market,” Catellani said.

    “As a business, a key part of our strategy is on sustainability and in supporting value creation in local industries,” said Sanyo’s President and CEO Akinori Higuchi. “SoiLabs’ recycling of soy processing waste into value-added products is completely aligned with this strategy. In addition, it gives us the opportunity to bring added value to the soy processing industry both near our home base in Kyoto and throughout Japan.”

    The post The Soy Milk Waste Market Is About to Have a Plant Protein Moment appeared first on Green Queen.

    This post was originally published on Green Queen.

  • Prime minister of japan fumio kishida
    3 Mins Read

    Japan’s Prime Minister Fumio Kishida says the country will move forward with a plan to develop an industry of “cell agriculture” bringing a focus to cultivated meat and fish as a means to reduce the country’s carbon footprint.

    Prime Minister Kishida is looking forward to creating a new agriculture sector that will increase the country’s sustainability he said in a statement.

    ‘A new market’

    “We will develop the environment to create a new market, such as efforts to ensure safety and the establishment of labeling rules, and foster a food tech business originating in Japan,” Kishida said.

    In his statement, Kishida emphasized the importance of supporting a sustainable food supply and contributing to solving the world’s food problems. He highlighted the potential of food tech, including cultivated meat, to create a new market and foster a food tech business sector in Japan.

    Cellular agriculture is currently seeing a boom in investments and developments despite lagging regulations outside of Singapore — currently the only country that has approved cultivated meat for sale and consumption. The U.S. recently granted its first GRAS status to cultivated chicken developed by California-based Upside Foods. But it must still clear USDA regulations before it can be approved for sale.

    GOOD Meat cultivated chicken
    Available in Singapore, GOOD Meat’s cultivated chicken is currently the only approved cell-based meat for sale. | courtesy Eat Just

    The regulatory framework around cultivated meat is also still evolving globally and Japan specifically has not yet approved cultivated meat or safety standards for raw materials and manufacturing processes have not yet been established.

    According to Japan’s Minister of Health, Labor, and Welfare Katsunobu Kato, “While paying close attention to the state of research and development, scientific findings on safety, and international trends, we will further consider what measures are necessary in terms of safety.”

    Food labeling on cultivated meat is another issue that needs to be addressed. Consumer Minister Taro Kono expressed his support for cultivated meat, saying, “I think cultured meat has a lot of potential. When the safety is confirmed and it hits the market, I’d like to make an effort to properly label it.”

    Cultivated meat’s global impact

    The development of cultivated red meat has the potential to significantly reduce the environmental impact of animal agriculture.

    Upside Foods has built a massive cultivated meat factory in California despite lagging regulations. Courtesy

    According to a study by the University of Michigan, lab-grown meat could reduce greenhouse gas emissions by up to 96 percent, land use by up to 99 percent, and water use by up to 96 percent, compared to traditional animal agriculture.

    At a House of Representatives Budget Committee Prime Minister Kishida told Nobuhiro Nakayama of the Liberal Democratic Party that food tech, including cellular foods, “is an important technology from the perspective of realizing a sustainable food supply. We have to support efforts that contribute to solving the world’s food problems.”

    Last year, Japanese cellular agriculture startup IntegriCuture closed a $ 7 million Series B funding round to develop affordable growth mediums and other tech solutions for the cultivated meat sector, with the aim of making its work open source so as to accelerate the sector’s commercialization. 

    The post Japan’s Prime Minister Embraces Cultivated Meat As Part of the Country’s Sustainable Future appeared first on Green Queen.

    This post was originally published on Green Queen.

  • 4 Mins Read

    AI and ChatGPT offer a wide range of use cases across the food tech supply chain- we explore the most exciting.

    You may be part of the more than 100 million people that have given ChatGPT, Open AI’s optimized language model, a whirl. It launched in December and has since created a media maelstrom with thousands predicting the model, and others like it would transform our lives. I didn’t give much thought to it as I didn’t see many applications. However, I have since received many questions from agribusinesses and food companies. It seems ChatGPT has become a symbol for all the potential productivity increases and many concerns created by Artificial Intelligence (AI).

    The number of use cases for AI across the food tech supply chain is impressive and below I consider all the ways AI and ChatGPT, in particular, could disrupt the industry, some of which are already happening.

    Upstream uses cases for AI

    I see many upstream applications in farming, notably in precision farming, where AI can be used in the following ways:

    • Crop monitoring: for example, to analyze satellite/drone imagery and sensor data to monitor crop health and predict yields (eg. Gamaya).
    • Sales prediction: helping farmers sell their output at the optimal time, depending on how markets evolve.
    • Input management: to increase or decrease the amount of water or fertilizer (and which to use) needed by crops.
    • Livestock monitoring to monitor the health and behaviour of animals, notably to identify and prevent diseases (e.g. Connecterra).
    • Farm automation: AI can be used to pilot robots in the fields (eg Farmwise), mostly to harvest crops and control weeds.

    There’s a great variety of tools in these three areas, all with their own interface. That’s where the idea of conversational AI comes into play. It can potentially add a lot of value with the farmer is able to manage all this information through a “conversation” and where only the most important elements are presented to her in an easy and actionable way.

    AI is being used to create “new crops” either through genetic engineering or via traditional breeding techniques. In this application, it can help to “guess” which crossing will have the desired traits.

    Midstream uses cases for AI

    Midstream, AI is can be used for transformation (food science) for many applications, such as recipe optimization. It can gather consumer preference data and create new recipes, as well as create meal planners. This is still a very young space, but it is quite promising, notably in an industry where balancing cost, processing and taste is notoriously complicated.

    One of the food tech verticals where AI has found applications is in the growing space of alternative proteins:

    • Identifying interesting properties in nature: many plants have not yet been “explored”. Some may have interesting properties we would like to use to create cleaner labels. For example, The Live Green Co, uses it to look for alternatives to methylcellulose for plant-based meats, while NotCo’s now patented tool, dubbed Giuseppe, uses AI and machine learning algorithms to find the best plant-based replacements for animal proteins. 
    • Synthetic biology, more precisely, in precision fermentation: it can take years to recreate the desired protein from a bacteria and then scale the process. Multiple companies are designing faster processes to go from the idea to a semi-industrial scale. At scale this would be a true game-changer, enabling any food company to identify a protein with a desired property (let’s say a binding agent or an egg protein) and “order it” to then experiment with it in a few weeks.
    • Managing bioreactors, notably for cellular agriculture: many companies in this space have demo products, but none have the ability to scale their production yet. Startups are trying to solve this issue by creating smart bioreactors to speed up this process.

    Downstream use cases for AI

    Downstream, and closer to the consumer, the use cases for AI are abundant. Most are invisible to the consumer, such as:

    • Quality and food safety controls
    • Data sharing (a major pain point) between suppliers and retailers
    • B2B marketplaces (a key area of interest for investors and founders in 2023)
    • Supply chain optimization
    • Food waste, both in retail stores (to create some kind of yield management to adjust prices in real-time when fresh products are going to be wasted, such as Smartway), and in restaurants (through image recognition to detect what is thrown away and then to better order)

    However, in some instances, AI can be used in consumer-facing applications:

    • For transparency: to bring the most relevant data to the consumer about the food items she buys (or should buy)
    • Personalization: to analyse consumers’ health and dietary preferences and then create customized nutrition plans. The Spoon tested ChaGPT for this purpose, and the results were impressive.
    • In both of the above instances, the use of conversational AI tools could greatly improve efficiency and even adherence to the recommendations by the user/consumer.

    Many other use cases exist. AI is both everywhere and nowhere at the same time. This technology is only a means to an end, one that all players can use to have a greater impact, reduce costs and/or improve the efficiency of the solution they are working on. In all instances where technology is facing its users, it has to be invisible to succeed. That’s where a conversational tool such as Chat GPT (through text now, and soon, through audio) becomes a game changer.

    My bet is that the impact of AI in food tech will be massive but quite slow to materialize as it requires adaptation and often coordinated change all across the supply chain. That being said, established players have considerable opportunities to differentiate themselves right now. A first step would be to start with figuring out all the ways their current business could be disrupted or improved through A today, and in the future.

    A version of this article first appeared in Zapping Foodtech by DigitalFoodLab newsletter on February 21st.

    The post The Many Ways AI & ChatGPT Will Disrupt Food Tech appeared first on Green Queen.

    This post was originally published on Green Queen.

  • 4 Mins Read

    Amidst record sales growth, Impossible Foods has grown its ‘meat made from plants’ range with three new retail plant-based chicken products while additional layoffs confirmed.

    California food tech Impossible Foods has expanded its plant-based chicken offerings with the launch of three new products namely Impossible™ Spicy Chicken Nuggets, Impossible™ Spicy Chicken Patties, and Impossible™ Chicken Tenders that will be available in the frozen aisle at select retailers, with national availability coming in the next few months. 

    These new additions add to their existing selection of plant-based beef, pork and sausage, as well as the chicken nuggets they launched back in 2021 and the Wild Nuggies™ aimed at children that come in various endangered animal shapes. Impossible tested a chicken patty format last year when it tested them at Burger King US at select locations in Ohio.

    The plant-based chicken space is becoming increasingly busy. Competitor Beyond Meat debuted its plant-based chicken tenders in 2021 and launched them at retailers last year. Newer entrant TiNDLE announced a new line of retail products including plant-based chicken patties, nuggets, tenders, popcorn chicken and wings in Germany and says it will debut them in the US later this year. Other popular brands in North America include Daring Foods, Nuggs, Quorn, Alpha Foods, Vegan Fried Chick*n (VFC) and Gardein.

    The Impossible difference

    In a press release, the company cited the results of a blind consumer test that showed their nuggets outperformed those of a leading animal chicken brand 3-to-1, with participants ranking them higher on flavor, texture and overall appearance.

    “Our chicken products caught on fast with consumers, and they’ve served as a successful entry-point to our brand,” said newly appointed Chief Demand Officer Sherene Jagla. “In retail, our original nuggets are leading the plant-based chicken category in dollar sales, and in food service, consumers prefer them to animal chicken nuggets. We’re excited to expand on the platform’s success, and we expect this category to continue to be valuable for our brand.”

    Impossible Foods was founded in 2011 by Stanford scientist Pat Brown with a mission to help end industrial animal agriculture by creating meat from plants. The company’s signature Impossible Burger made headlines across the world when it was first unveiled in 2016. According to a lifecycle analysis published on the company’s website, Impossible chicken products use “44% less water, 49% less land, and emit 36% less greenhouse gas emissions than their animal counterparts.”

    Courtesy Impossible Foods

    Media backlash amidst ‘record sales’

    The plant-based meat industry has faced strong media backlash and flat sales of late, but Impossible has repeatedly said it is on a growth trajectory, with retail sales up 55% year on year. When asked if the growth included food service and other business verticals, a company spokesperson told Green Queen the company was doing across the board.

    Impossible Foods said in a statement it has “achieved record sales in 2022” and is the “fastest growing plant-based meat brand in US retail stores” with its plant-based beef product described as “the best-selling product by volume of any plant-based meat brand in the US”.

    In an interview with TIME magazine, CEO Peter McGuinness said that the plant-based category was in its earliest days and critiques were one-sided, commenting, “You have a $7 to $8 billion global category of plant-based meat that’s been around for 20 years, and it’s a fad?”

    He added that the category is still relatively unknown by the average consumer “I believe it’s yet to be built and created” and has plenty of room to expand. “Right now, we have 17% awareness. So 83% of the country’s never even heard of us. We have 5% household penetration; 95% of the country hasn’t even tried us yet, and we’re still growing at those growth rates”.

    The company’s products are stocked at over 30,000 grocery stores and used in over 45,000 food service locations across the US, and the brand has entered 8 different countries and territories worldwide including Australia, the UK, Singapore and the United Arab Emirates.

    Courtesy Impossible Foods

    More layoffs announced

    Like many Bay area companies, particularly in the tech sector, the company has announced layoffs, first in October, when it confirmed a 6% reduction in staff, and earlier this week, with Food Dive reporting the company had cut 132 jobs including engineers, researchers and scientists, citing filings made with the California Employment Development Department.

    When asked if the job cuts would impact Impossible’s near-term R&D plans, a company spokesperson told Green Queen: “We took steps last week to position our business for sustainable, balanced growth over the long term by bringing our costs more in line with our revenue, which includes reducing our workforce. We remain very confident in the strength of our business and our future growth, and we’re grateful to all of the talented, dedicated employees who have contributed to our mission”.

    The post 3 New Impossible Foods Plant-Based Chicken Products Announced Amidst Record Growth appeared first on Green Queen.

    This post was originally published on Green Queen.

  • Oodaalolly
    3 Mins Read

    Oodaalolly Chocolate, known for its premium Philippine-sourced cacao, has partnered with precision fermentation leader, Perfect Day, to launch a new product: Mushroom Milk Chocolate.

    The partnership between the two California-based brands is the latest chocolate collaboration for Perfect Day, which recently partnered with Mars to offer milk chocolate made with dairy-identical precision fermentation.

    Mushroom milk chocolate

    Unlike traditional milk chocolate, this Swiss-style chocolate is made using “mushroom milk” – a protein derived from Trichoderma reesei, a fungus that has been retooled using recombinant DNA technology to reproduce the taste and texture of conventional dairy.

    Oodaalolly is using dairy-identical whey in its chocolate | Courtesy

    Compared to conventional proteins, the ‘mushroom milk’ emits 97 percent fewer greenhouse gases, consumes 97 percent less surface and groundwater, and uses 60 percent fewer fossil fuels. This makes it a more sustainable alternative to animal-derived milk proteins. By incorporating this protein into their chocolate, Oodaalolly and Perfect Day hope to promote sustainable and equitable food production while eliminating animal suffering.

    “This bar embodies our goal to create a fun chocolate that people want to try that also happens to be sustainable, equitable, and delectable,” Hernan Lauber, the founder of Oodaalolly, said in a press statement. “We are putting this ingredient front and center and making it a key component of the future of our company.”

    Jeremy Burnich, Oodaalolly co-founder, notes that while the idea of mushroom milk may be new to many people, the response has been overwhelmingly positive. “It’s fun talking about mushroom milk and people seem interested in learning about it,” he said. “It’s a fascinating process, and engaging with communities on social media has been quite rewarding.”

    Precision fermentation whey

    Perfect Day launched in 2014 and created the world’s first precision-fermented whey protein, which the company debuted in 2020. It can now be found in animal-free ice creams, cream cheese, baked goods, and sports nutrition products across the U.S., Hong Kong, and Singapore.

    It has since partnered with leading food giants including Nestlé and General Mills. Unilever looks to be venturing toward a partnership with the brand, too.

    cowabunga milk
    Nestlé and Perfect Day’s Cowabunga milk is now available in select locations | Courtesy

    An ISO-compliant, third-party reviewed life cycle assessment found that Perfect Day’s whey protein reduces blue water consumption by up to 99 percent, greenhouse gas emissions by up to 97 percent, and non-renewable energy use by up to 60 percent, when compared to conventional production methods.

    Mushrooms themselves are also gaining recognition for their numerous health benefits. According to Healthline, mushrooms are an excellent source of antioxidants, fiber, and vitamins like B and D. They also contain beta-glucans, which have been shown to support the immune system and may have anti-cancer properties. While the specific health benefits of mushroom milk protein have not been extensively studied, it is likely that it contains some of the same nutrients and compounds found in whole mushrooms.

    Burnich says Oodaalolly and Perfect Day say they are creating delicious, sustainable products that benefit both people and the planet. “It’s exciting to be part of a movement that is pushing the boundaries of what’s possible in food production.”

    The post Oodaalolly Taps Perfect Day’s Whey for ‘Mushroom Milk’ Chocolate appeared first on Green Queen.

    This post was originally published on Green Queen.

  • 2 Mins Read

    Oatly, the world’s largest oat milk manufacturer, has announced its vegan cream cheese is now available nationwide.

    Sweden-based Oatly says its new oat cream cheese innovation was spearheaded by the company’s Philadelphia-based food scientists. Philadelphia is also the name of the top-selling brand of conventional cream cheese.

    ‘Versatility and opportunity’

    “Oatly has always been at the forefront of providing delicious plant-based alternatives and this new product is no different,” Mike Messersmith, President, Oatly North America, said in a statement. “We’re extremely excited about the launch of our new cream cheese in the U.S., as it not only expands our mission to bring more plant-based consumption occasions to consumers, but also continues to prove the versatility and opportunity for oat-based products.”

    Courtesy Canva

    “This cream cheese is an important step toward growing our portfolio of delicious plant-based products, and we want to first introduce it to the city it was invented in,” Leah Hoxie, SVP of Innovation at Oatly North America said in February when the company first debuted the cheese. Hoxie says the cream cheese has “deep and authentic Philadelphia roots,” much like the popular cream cheese brand that bears the city’s name, which also recently released a dairy-free version of its iconic cream cheese.

    Innovating with oats

    Oatly has been leading the plant-based dairy market, with its oat milk one of the most popular dairy alternatives in supermarkets and coffee shops.

    Oatly’s use of oats has led the brand to innovate in the category including alternatives to milk, ice cream, yogurt, cooking creams, spreads, and on-the-go drinks, but this marks its foray into the dairy-free cheese category.

    Source: Oatly image, graphic by Green Queen Media

    “For decades, we’ve focused on the power of oats and the magic that happens when you unlock their potential,” Hoxie said. “With this new cream cheese, our U.S. R&D team spent over a year focused on bringing to market a truly great-tasting and performing plant-based option that mimics dairy cream cheese in all the best ways possible, minus the dairy.”

    Oatly Plain and Chive & Onion cream cheese varieties (8 oz) have begun to roll out at retailers nationwide.

    The post Oatly Launches Vegan Oat Cream Cheese Nationwide: ‘We’re Extremely Excited’ first appeared on Green Queen.

    The post Oatly Launches Vegan Oat Cream Cheese Nationwide: ‘We’re Extremely Excited’ appeared first on Green Queen.

    This post was originally published on Green Queen.

  • meatballs
    3 Mins Read

    Investor appetite for alternative proteins is still strong despite a decline in investment growth in 2022, says think tank the Good Food Institute and a new survey on 2022 investments into the alternative protein sector.

    The $14.2 billion that the alternative protein sector has attracted over the past decade has been driven by investments that have nearly doubled every year on average, with a particular surge in funding since 2020, says the Good Food Institute (GFI).

    The findings

    However, GFI’s new analyses of Pitchbook data show that alternative protein companies raised $2.9 billion globally in 2022, a decrease of 42 percent YoY. While a decline in investment, the report notes that the deceleration was in line with broad market trends, and most investors still remained optimistic about the sector over the long term.

    The covid pandemic led investors in the food and agriculture sector to focus on supply chain resilience and the disruption to the meat industry. “Companies that start during this economic downturn will build efficient operations and have a running start as the economy improves again,” Guatam Godhwani, founder and managing partner at Good Startup, noted in the report. “Historically, some of the best companies have been started during difficult economic times.”

    Impossible Foods patties
    Impossible Foods is a leader in the alt protein industry | Courtesy

    GFI found that the deceleration of alternative protein funding in 2022 was in line with the decline in overall funding across all sectors. Additionally, the report notes that half of the world’s largest protein producers are investing in alternative proteins, up from 28 percent in 2021.

    Large food companies are also seeing protein diversification as a material business issue, with 35 percent of the 23 largest food manufacturers and retailers globally committed to increasing the volume or sales of meat alternatives and/or dairy alternatives.

    While the sector experienced challenges, there were also successes in 2022, with distribution picking up for fermentation-enabled proteins and several large food companies launching plant-based versions of long-branded food products. Further, quick-service restaurant chains experienced a resurgence in plant-based menu launches.

    The early days of a game-changing industry

    Of more than 100 investors active or interested in alternative proteins, the survey found that 99 percent of respondents agreed or strongly agreed that they are optimistic about the alternative protein industry over the long term. Forty-five percent of respondents noted that their investments in alternative proteins did not slow down in 2022, and 87 percent of respondents expected to make investments in alternative protein companies or funds in 2023. Respondents expect to increase investment in the more novel alternative protein categories, especially fermentation, cultivated dairy, and alternative fats.

    ImpacFat is the first company to make cell-based fish fat
    ImpacFat is the first company to make cell-based fish fat and the category is positioning itself for a boom | Courtesy

    The report also notes that the current fundraising market may improve the quality of opportunities for startups and investors alike, with startups seeing an alleviation of pressure to “grow at all costs” and investors finding themselves with more time to explore and research deals with more favorable valuations and deal terms.

    While the decline in investment growth in 2022 may have been in line with broader trends, investor appetite for alternative proteins remains strong, with investors seeing potential for growth in the sector.

    “We’re in the early days of a game-changing industry, during one of the most unusual market environments of our lifetimes,” GFI says. “The road ahead will be challenging and complex, but from our estimation, the good food future is bright.”

    The post New Survey Finds Investors Still Optimistic About Alt Protein Despite Recent Growth appeared first on Green Queen.

    This post was originally published on Green Queen.

  • Mush foods burger
    3 Mins Read

    On a mission to make meat hybrids mainstream, Israel-based Mush Foods is now offering a mushroom-derived 50CUT mycelium protein ingredient as a solution aimed at reducing animal protein in meat products.

    Mush Foods says 50CUT serves as the perfect complement to beef and caters to carnivores and flexitarians who don’t want to compromise on taste, texture, and nutrition. The ingredient’s taste, formability, texture, aroma, and color are tailored specifically for blending with conventional beef, making it an ideal ingredient for a range of meat hybrids.

    Food sidestreams make for more sustainable meat

    Mush Foods uses a pioneering proprietary technology for upcycling food sidestreams from local manufacturers to grow the mycelium. The mycelium network is an underground system of fungi that breaks down forest plant matter and nourishes the mushrooms growing above ground as well as the surrounding ecosystem. Mush Foods’ fermentation platform recreates the underground growth conditions, without light and uses minimal land, energy, and water.

    “Our mycelium ingredient is grown from food waste, making it highly sustainable and exerting a minimum carbon footprint,” Shalom Daniel, co-founder and CEO of Mush Foods, said in a statement. “It also grows exceptionally fast: While it takes a year to grow a cow, and four months to grow soy, it takes only eight-ten days to grow mycelium, making it a highly scalable — and affordable — option.”

    Mixing mycelium in with conventional beef.
    Mixing mycelium in with conventional beef. Courtesy Mush Foods

    Mycelium is a whole protein that contains all the essential amino acids, is rich in fiber and vitamins, and contains no saturated fat or cholesterol. It also acts as a natural binder and possesses a natural umami flavor similar to meat, eliminating the need for masking agents or added flavors. Mycelium fibers maintain the volume of the ground meat matrix by absorbing the meat juices, further preserving flavor and making the addition of fillers such as texturized proteins unnecessary.

    “In a world where we are seeing more flexitarians than ever before, the Mush Foods team is doing something very unique and forward-thinking by creating a meat hybrid product that delivers the protein and taste that people expect, while also reducing the environmental impact of beef production,” Brian Frank, co-founder and managing partner at FTW Ventures, said of its portfolio brand.

    Clean label meat alternative

    Mush Foods’ 50CUT ingredient is a clean-label, nutritious, and natural complement to beef that appeals to even the most devoted meat lovers. In November 2022, a pilot study of 4,000 participating employees drawn from various financial institutions in New York found that Mush Foods’ 50CUT hybrid beef and mycelium burger scored the highest out of 11 main dish options.

    Mush Foods will be featured at the Future Food Tech event in San Francisco in March 2023, where Daniel will participate in a panel.

    Courtesy Better Meat

    “This technology is truly remarkable, as it not only allows for a new protein source that is sustainable, nutritious, and clean-label, but it also allows for a new way to reimagine meat hybrids and the texture and flavor they deliver,” says Amir Zaidman, Chief Business Officer of The Kitchen FoodTech Hub. “For this reason, we are sure Mush Foods will be a gamechanger.”

    The company isn’t the first to focus on reducing beef in meat products with mushroom-based fillers. The Better Meat Company has been working on it for years. But consumers have yet to embrace the trend. Mush Foods says it aims to change that.

    “To make a true impact, the product must benefit consumers and food companies as well as restaurateurs,” says Daniel. “All are attuned to evolving food trends and do not want to compromise when seeking quality alternatives that are affordable, nutritious, tasty, and kind to the planet, Mush Foods ticks all the right boxes.”

    The post Mush Foods Targets ‘Hybrid Meat’ With Mycelium Protein That Blends With Beef appeared first on Green Queen.

    This post was originally published on Green Queen.

  • joy plants and burgers
    3 Mins Read

    As the demand for vegan food continues to expand across the globe, Joy Burgers & Plants is the first vegan fast food chain to open in Latin America.

    Joy Burgers & Plants opened its doors in Argentina last October. Joy offers a range of animal-free burgers, chicken, mac and cheese, nuggets, and more fast-food staples, all served in compostable and recycled packaging.

    ‘Franchising in mind’

    According to Patricio Lescovich, one of the founders of Joy, the brand was developed with franchising in mind, leveraging the extensive experience of the founders of Hell’s Pizza and SushiClub. Lescovich is also behind the Argentinian burger restaurant named after (mostly vegetarian) actor, Kevin Bacon.

    Joy is adding two more locations before the end of the fiscal quarter, with two other openings slated for later this year.

    joy fast food
    Joy Burgers & Plants is expanding in Argentina | Courtesy

    In addition, Joy has partnered with Argentina’s leading plant-based alternatives company, Felices las Vacas, to develop its burgers and chicken alternatives.

    Felices las Vacas has the logistics and production capacity to supply Joy’s rapid expansion plans. The company started selling soy milk in Buenos Aires in 2016 and now has an award-winning plant-based portfolio with nearly 40 products, including dairy, meat alternatives, ice cream, snacks, sweets, and drinks.

    LATAM embraces plant-based

    The popularity of plant-based protein in Latin America is on the rise. A study by Innova Market Insights found that 57 percent of Latin American consumers are trying to increase their consumption of plant-based protein, citing health and environmental concerns as the main motivators.

    As the demand for plant-based protein continues to grow, food companies are taking notice. Leading LATAM’s shift is the Chile-based NotCo, which recently partnered with fast-food giant Burger King in LATAM. It also recently joined forces with Kraft Heinz.

    Kraft Heinz and NotCo have signed a joint venture agreement earlier this year

    Founded in 2015 by Matias Muchnick, Karim Pichara, and Pablo Zamora, NotCo uses artificial intelligence and machine learning to create plant-based products that taste and feel like their animal-based counterparts.

    NotCo is also providing vegan chicken for Joy.

    Both NotCo’s and Joy’s success in the plant-based food industry highlights the growing demand for sustainable and healthy food options outside of the U.S. and Europe.

    “Sometimes you can have an excellent product and a market that is not ready to receive it,” Lescovich told Forbes Argentina last year. “But is not the case. Ours is a country that is always innovating in terms of gastronomy, on par with what happens in other parts of the world. We are prepared for a 100% vegan fast-food chain. Because Joy, in addition, is not just a hamburger restaurant for people who do not eat meat. A good part of our consumers are flexitarians, people who like the taste of meat but who try to reduce their consumption. Not only for a matter of food but also for awareness of animal care and the environment.”

    The post Latin America’s First Vegan Fast Food Chain Embraces the Joy of Plants appeared first on Green Queen.

    This post was originally published on Green Queen.

  • 3 Mins Read

    Planetarians, the San Francisco-based company that creates plant-based protein from minimal ingredients, has received a $6 million venture capital infusion to help it move to its next phase of commercial production.

    San Francisco-based Mindrock led the Seed II investment round, with support from Traction Fund, Techstars, SOSV, and ZX Ventures, the corporate venture arm of AB InBev — the world’s leading beer brewer, which has recently turned its focus toward the plant-based sector.

    Two-ingredient vegan meat

    Planetarians, which was founded in 2013 by Aleh Manchuliantsau and chef Max Barnthouse, uses spent yeast from commercial fermentation facilities and native plant proteins, such as soy leftover from the vegetable oil extraction process to produce its whole-cut carbon-neutral vegan protein that is made from just two ingredients.

    “It took 7 years of R&D to work through the long list of ingredients that are possible for plant-based proteins,” Manchuliantsau said in a statement. “before we realized that one readily available fermented protein, spent yeast from breweries, could combine with soy flakes and other native plant proteins to deliver a meaty taste and texture at a low cost compared to the alternatives.”

    “We are deeply grateful for the support of Mindrock, AB InBev, and the rest of our investors,” said  Barnthouse.

    planetarians co-founder
    Planetarians co-founders Max Barnthouse and Aleh Manchuliantsau

    The new investment will be used to build a pilot facility and ramp up sales. The company has already verified its technology works at an industrial scale and has secured its first commercial contract. Manchuliantsau said the facility can be as small as 3,000 square feet because it gets the fermented product without having to do that process itself.

    Food waste potential

    “While the protein industry was developing new ways of manufacturing that poured money into expensive infrastructure,’ said Ulvi Rashid, head of investments at Mindrock, “Planetarians acted from first principles to re-purpose already existing ingredients to create affordable and sustainable meat.”

    anheuser busch
    Anheuser-Busch InBev is identifying new market opportunities for spent beer yeast and grains | Courtesy

    True to its name, Planetarians is tackling one of the biggest reasons people are shifting away from conventional meat: its carbon footprint. Analysts at IAMECON calculated that Planetarians vegan meat has a carbon footprint that’s 50 times better than animal meat and nine times better than most other plant-based meat, due in large part to its upcycling of existing ingredients leftover from other industries, which lowers both water and power consumption. “Eating Planetarians Vegan Meat once a week equals planting 19 trees,” the company says.

    Planetarians has already tested its product with hotels, restaurants, and schools, and has secured its first commercial contract. It is now preparing its second line and is collecting orders to begin production in October. It is also working with AB InBev to place its lines across every brewery it has around the world.

    “Like many other hard-working entrepreneurs and scientists, we have been trying to discover an alternative protein that hits all the marks,” Barnthouse said. “I think we have finally found it. I cannot wait to see Planetarians’ technology deployed across every brewery in the world.”

    The post With $6 Million In Funding, Planetarians Plots a Future for Low-Carbon Vegan Meat appeared first on Green Queen.

  • 3 Mins Read

    Plant-based dairy company Miyoko’s Creamery has filed a case against founder Miyoko Schinner alleging breach of contract and company IP misappropriation.

    Earlier today, Green Queen received a PDF copy of court filings detailing that on February 16, Miyoko’s Creamery filed a complaint case in the United States District Court for the Northern District of California naming founder and former CEO Miyoko Schinner as the sole defendant.

    The filings cite a range of complaints against Schinner: Breach of Contract, Violation of Defend Trade Secrets Act, Violation of the Uniform Trade Secrets Act, Breach of Duty of Loyalty and Breach of Promissory Note.

    According to the filings, Schinner allegedly stole company IP and “hatched a plot to steal the Company’s property, trade secrets, and confidential information so that she could create a competing company.”

    In the documents, the company says it issued multiple notices to Schinner upon discovering her plans and asked her to return the confidential items which included R&D materials such as “proprietary recipes and plant-based culture configurations”. It claims Schinner did not comply and as a result, the company “was forced to bring this action to protect its trade secrets and confidential information.”

    Further allegations against Schinner mentioned in the filings include not being able to develop or maintain a strong executive team, repeatedly missing performance and financial targets, refusing to facilitate a smooth transition following her departure as CEO, and enlisting the help of now-former company employees to help her steal company documents.

    Legal news service Law360 first reported the lawsuit.

    Green Queen has reached out to Schinner for comment and this story will be updated when we hear back.

    Schinner was removed as CEO last June

    On Thursday (February 16), the company issued a press release stating that it has parted ways with company founder Miyoko Schinner citing “a new stage of growth” for the organization. The company said Schinner had exited as CEO and was no longer involved in day-to-day operations. It announced that it had hired executive search firm Heidrik & Struggles to help find a new CEO and that existing company CFO Jon Blair had taken on the role of interim President “to guide this transition” in the meantime. Schinner remains as board Chair.

    In the court filings, the company says it “unanimously terminated her as CEO to move her to a more appropriate employee role” and that the company’s rapid growth “required a CEO capable of taking on the increased responsibilities that come with an expanding business and the management of a larger company.”

    In a social media post commenting on the news, Schinner said that her removal as CEO “occurred months ago in June 2022” and that “negotiations for my continued involvement stalled before Christmas”, concluding that “we did not arrive at this point by my choosing”.

    Credit: Miyoko’s Creamery

    Miyoko’s Creamery: a vegan dairy pioneer

    Miyoko’s Creamery (originally Miyoko’s Kitchen) was founded in 2014 by Schinner, a longtime vegan chef, cookbook author, activist and TV presenter.

    The company, which earned B Corp status in 2019, produces a range of vegan dairy products aimed at consumers and food service including cashew-based artisan cheese wheels, a popular European-style butter, cream cheeses and other plant-based dairy spreads, and liquid mozzarella.

    According to a 2021 press release, the company’s products are sold in over 20,000 retailers worldwide.

    Two years ago, Miyoko’s won a legal battle against the State of California that granted the company permission to use the term “butter” to describe its products after winning a preliminary injunction in 2020, with the Judge commenting that “the State’s showing of broad marketplace confusion around plant-based dairy alternatives is empirically underwhelming.​” 

    That same year, the company raised a $52 million Series C funding round led by PowerPlant Partners, with participation from CPT Capital, Obvious Ventures, Stray Dog Capital and JMK/Cult Capital.

    Last year, Miyoko’s raised just under $7 million in equity from undisclosed investors; BizJournals reported the company has received over $78.6 million worth of funding since its founding. According to data published on Dealroom, the company was valued $260 million as of June 2022.

    This is a developing story.

    The post Miyoko’s Creamery Lawsuit: Case Filed By Plant-Based Dairy Company Against Founder appeared first on Green Queen.

    This post was originally published on Green Queen.

  • beyond mcdonalds
    3 Mins Read

    McDonald’s and Beyond Meat are expanding their McPlant line of plant-based products with the addition of McPlant Nuggets in Germany, starting on February 22.

    The vegan nuggets are made from peas, corn, wheat, and tempura breading. The fast-food chain is also adding the McPlant burger to its menu in Germany. McDonald’s and Beyond Meat have been working together since 2019 when they signed a three-year deal for Beyond Meat to become the preferred patty supplier for McDonald’s McPlant burger. Since then, the burger has been permanently added to menus in the United Kingdom, Ireland, Austria, the Netherlands, and now Germany.

    kfc beyond
    Courtesy Beyond Meat

    Beyond Meat’s chicken has been available in restaurants since mid-2021, when the company rolled out its revamped recipe. But the new McPlant Nuggets are an exclusive recipe for McDonald’s in Germany.

    Despite the expansion of the McPlant line, Beyond Meat’s sales have been disappointing over the past year, and the company’s stock value has dropped by 75 percent. Last October, Beyond announced it would lay off 19 percent of its workforce.

    But Beyond Meat continues to move forward; the company’s stock closed up 12 percent on Wednesday prior to the announcement of the McPlant Nuggets. Beyond Meat is expected to report its fourth-quarter results on February 23 after the bell.

    Vegan fast-food demand

    In recent years, many fast-food chains, including Burger King, KFC, and Subway, have introduced vegetarian or vegan options to their menus to cater to health-conscious consumers who want to reduce their meat intake. Most recently, chicken chain Chick-fil-A added a cauliflower-based vegetarian sandwich option.

    Beyond Meat, which was founded in 2009, has been at the forefront of this trend, developing meat substitutes made from plant-based ingredients.

    Although McDonald’s and Beyond Meat have been expanding the availability of their McPlant products in Europe, it is unclear when the McPlant line will reappear in the U.S. McDonald’s and Beyond ended their U.S. test of the McPlant burger in 2022 and haven’t announced any plans for additional testing or a nationwide launch.

    tindle tenders
    TiNDLE adds chicken tenders to its lineup | Courtesy

    The market for plant-based meat substitutes is expected to continue to grow in the coming years. According to a recent report from MarketsandMarkets, the global plant-based meat market is expected to reach $8.3 billion by 2025, up from $4.6 billion in 2020. The report cites increasing consumer demand for plant-based products, as well as improvements in the taste and texture of meat substitutes, as key factors driving the market.

    Germany, like much of Europe, has seen a steady rise in demand for vegan options. Earlier this year, Singapore-based vegan chicken brand Tindle, announced the launch of six vegan chicken products at more than 6,000 German supermarkets.

    The post Beyond Meat Vegan Nuggets Come to McDonald’s Germany appeared first on Green Queen.

    This post was originally published on Green Queen.

  • 4 Mins Read

    According to new data, year-on-year funding for alternative proteins across Asia Pacific has increased by 43% and shows strong growth across all sector verticals from cultivated to plant-based to fermentation.

    Encouraging growth across the APAC alt protein sector

    The Good Food Institute Asia Pacific (GFI APAC), a leading regional alternative protein non-profit think tank based in Singapore, has crunched the 2022 funding numbers from Pitchbook Data and has found that total investments into the alternative protein sector in the region went up by 43 percent, from $392 million to $562 million. 

    Plant-based food funding rose by 30 percent, from $287 million to $372 million, in large part due to Singaporean startup TiNDLE’s record-breaking Series A round. Precision fermentation and other fermentation investments went up by 67 percent, from $57 million to $95 million with Chinese company Changing Biotech coming out of stealth last August. Cultivated meat, dairy and seafood tech companies saw the biggest growth: 96 percent, from $48 million to $95 million, with Australia-based Vow breaking records with its Series A. One notable change is the classification of Singapore startup TurtleTree, which was considered cultivated in 2021 and is now being treated as a fermentation company.

    On the deal count front, numbers are slightly up since 2021 for fermentation (from 9 to 14) and cultivated food (19 to 20), while plant-based saw a small dip (from 38 to 33). Overall, GFI APAC notes that the funding growth is “broad and deep, not isolated to a single country or company.”

    According to Mirte Gosker, GFI APAC managing director, “building a more secure, sustainable, and just food system is not merely a choice in Asia—it’s a necessity. Conventional animal agriculture is ill-equipped to handle the escalating pressures of skyrocketing protein demand, increased climate disruption, land and water scarcity, and threats of viral outbreaks.”

    Source: GFI APAC

    China and Singapore are alt protein funding hotspots

    GFI APAC highlights two countries in particular where funding growth is strongest: Singapore and China.

    Singapore, which the report calls out as “the only country on Earth where products from all three pillars of alternative proteins are approved for commercial sale”, saw total investments in alternative protein double, from $85 million in 2021 to $170 million in 2022.

    2022 was a big year for alternative proteins in China too. In January, cultivated meat was included in the Ministry of Agriculture and Rural Affairs five-year agricultural plan for the first time, and President Xi Jinping referred to alternative proteins as key for national food security in a March speech. Perhaps as a result of this, alt protein investments showcased significant growth, funding between 2021 and 2022 rose 6x, from $24 million to $152 million.

    GFI APAC underscores the link between public government support towards future food technologies and funding in the space.

    According to Matthew Spence, managing director and global head of venture capital banking at Barclays, “Deep institutional investments from sovereign wealth funds, pension funds, and creative capital sources are key to propelling the global alternative protein sector forward and sustaining a building boom big enough to meet this moment.”

    Source: GFI APAC

    APAC funding is outpacing the global industry

    Globally, venture funding is down across all sectors and food is no different. Rising inflation, supply chain disruptions, an energy crunch, and the Russia-Ukraine war have affected the food sector, both regionally and across the globe. Raw material and ingredients prices are up, as are the costs of production, transportation and distribution.

    Investors are understandably cautious and increasingly conservative, and much of the food tech funding froth of 2020 and 2021 has dissipated in terms of deal count, deal size and valuations. According to GFI APAC, worldwide alternative protein investments are down 76%, from $5.1 billion in 2021 to $2.9 billion in 2022.

    Notwithstanding all this, GFI APAC says investors see the bigger picture, citing a survey showing that 99 percent of participants are optimistic about the long-term potential of the alternative protein industry with 87 percent planning to make investments in the sector in 2023.

    Source: GFI APAC

    The data also shows that APAC is growing in importance comparatively. 2022 marked the first time that alternative protein investments from outside North America accounted for the majority share of the global total with Asia exhibiting the most growth at 43 percent, compared to 24 percent for Europe and a 63 percent decrease in North America.

    As I wrote about Green Queen‘s APAC Alternative Protein Industry Report 2022, regional startups “have been going from strength to strength, hitting major milestones, attracting significant government support and raising record funding rounds.” I further called out the need for diversity and broader representation in media. “Our report illustrates the importance of reporting and media representation. Western-centric media would have you believe that alternative protein is an industry in trouble. In reality, the sector is headed for boom times in Asia and beyond.”

    As Gosker says, “with the global economic downturn starting to make deals more affordable, there is a huge opportunity for forward-thinking investors to reap rewards as Asia’s food future evolves.”

    The post Investments into Asia-Pacific Alt Protein Startups Up 43% Says New Report appeared first on Green Queen.

    This post was originally published on Green Queen.

  • haofood chicken
    3 Mins Read

    Haofood, the leading producer of vegan chicken made from peanuts, says its clean-label plant-based chicken is now available in China.

    Made without any artificial additives, preservatives, thickeners, or MSG, Haofood’s clean Carefree Pulled Chickless chicken is now available in select restaurants and via the Haofood website.

    Haofood says demand for plant-based food options in China and the greater Asian market is on the rise, making it crucial for brands to “stay informed and adaptable” in order to remain competitive

    Carefree Pulled Chickless

    The Shanghai-based company, which launched in 2020, says it conducted several consumer studies to better understand consumer preferences. It says the top three cited obstacles to including plant-based meat are taste, unnatural additives, and cost.

    The company says its Carefree range addresses these challenges.

    Haofood's new pulled peanut chicken comes in three flavors
    Haofood’s new pulled peanut chicken comes in three flavors | Courtesy

    “Clean-label products will be more favourable for consumers, as one of the main reasons to choose plant-based products are for health benefits,” Astrid Prajogo, Founder & CEO of Haofood, said in a statement. “The consumer demands for the assurance that they are eating the healthiest and safest food product, and at the same time that it is less harmful to the planet. Carefree Pulled Chickless is healthy and delicious — using simpler and plant-based ingredients produced with our know-how that enables us to create great texture and taste at the same time.”

    According to Haofood, even when a plant-based product meets food safety regulations, consumers are wary if it contains artificial or excessive additives. And when plant-based products are more costly than conventional, Haofood says it makes consumers even less likely to add the products to their shopping carts.

    Yip Hon Mun, an expert from the alternative protein industry and Haofood’s board member says Haofood’s new chicken offers a clean-label, innovative solution. “With a focus on consumer needs and a dedication to staying ahead of market trends, Haofood is setting a high bar for the industry.”

    Larry Lee, Founder and CEO of China Plant Based Food Association likens the plant-based food industry to other lifestyle categories such as cosmetics that he says require “constant” research and development to keep consumers interested. “This clean-label product is exactly what our industry needs now,” he said.

    China’s alt protein sector

    Haofood’s launch comes as China is expanding its focus on meat alternatives. Last month, China and U.S. discussed the best regulatory processes for the emergent cultivated meat sector. The country also took first place in the 2022 ProVeg Food Innovation Challenge APAC.

    CellX is building China’s first cultivated meat factory | Courtesy

    Last week, fellow Shanghai-based company, the cellular agriculture startup CellX partnered with the food manufacturing specialists Tofflonto to develop the first cultivated meat pilot plant in mainland China

    The new Carefree Pulled Chickless range comes in three flavors: Original, Xinjiang Spices, and Salt & Pepper, and Haofood says the products are priced on par with chicken breasts and cost about half as much as the average plant-based meat products. The products are available at restaurants in China including 2060, the plant-based fast food restaurant located at Wanda Mall in Wujiaochang, and as pre-orders on the Haofood WeChat store.

    The post Clean ‘Carefree’ Vegan Pulled Chicken Made From Peanuts Launches in China appeared first on Green Queen.

    This post was originally published on Green Queen.

  • Mirai Foods' cultivated tenderloin | Courtesy
    3 Mins Read

    Mirai Foods, the Switzerland-based food tech startup working on cultivated meat, says it has achieved a breakthrough with the first tenderloin steak grown from cells.

    Mirai Food’s achievement comes by way of a natural cell process that allows for tissue cultivation that can mimic conventional meat. It’s dubbed the tech, which it’s filed three patents on, “Fibration Technology.”

    Cultivated filet

    “Other types of meat can already be produced in the lab,” Christoph Mayr, CEO and co-founder of Mirai Foods, said in a statement. “A fillet steak is the ultimate challenge: it consists of different cell types, which — if combined correctly — result in a complex meat structure,” Mayr says.

    “This structuring process is technologically challenging, making steaks extremely difficult to produce. That’s why Mirai Foods is taking an important step towards sustainable meat with the first cultivated beef tenderloin steak.”

    The Mirai Foods ‘Rocket’ bioreactor. | Courtesy

    The steak was made in Mirai Foods’ in-house developed bioreactor, dubbed “The Rocket”. Mirai says the steak is made with long, fully mature cultivated muscle fibers, which are then combined by enzymes and supplemented with cultivated fat tissue. The process requires five days in a bioreactor, Mirai says, and then “a tenderloin centerpiece is complete, from which steaks of almost any thickness can be cut.”

    “We have filed three international patents for this key technology,” Suman Das, CSO and co-founder of Mirai Foods, said. “We can deliver a real alternative to conventional meat: Using our technology, one can prepare and eat a real steak — and know that no animal had to die for it and the climate is not harmed. Nutrition is a huge lever for greater climate protection and animal welfare: demand for meat is expected to double by 2050; conventional methods of meat production cannot meet this demand at all, and certainly not in a sustainable way.”

    Whole-cut cultivated meat

    Mirai is building on the industry’s increasing efforts to produce whole cuts of meat through cultivation; the majority of products thus far have more resembled mince for use in burgers and nuggets. But in 2023 alone, U.K.-based BSF Enterprises debuted a whole-cultivated pork loin, and researchers in Japan say they’ve also developed a whole-cut steak from cultured cells.

    Mirai Foods; Founder Christoph Mayr and Suman Das with Cows
    Mirai Foods; Founder Christoph Mayr and Suman Das with Cows | Courtesy

    According to Mirai, it’s also one of just a few cultivated meat companies in the world capable of making the meat without the use of genetic engineering — a controversial tech most known for its link with seeds engineered to withstand heavy applications of herbicides. GMOs are heavily restricted in the E.U., and Mirai says the absence of the tech in its meat is geared toward the preferences of European consumers “while maintaining the highest standards of taste, quality, and health.”

    Mirai Foods’ tenderloin debut comes as Zürich-based food and meat producer Angst AG has joined the company along with several other investors. Angst AG is expected to bring Mirai’s cultivated meat into its range of offerings once the tech has earned regulatory approval. Mirai, which launched in 2019, has raised more than $5 million in funding in a 2021 Seed round.

    The post Swiss Start-Up Mirai Foods Debuts the World’s First Cultivated Tenderloin Steak appeared first on Green Queen.

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