Better Bioeconomy Weekly - Jul 10th 2023 🌏
Better Bioeconomy Weekly - Jul 10th 2023 🌏
The first sales of cultivated meat in the US! 👏🏾
Hi there!
Things were calm this week on the Bio Bucks front, but the cultivated meat industry has been buzzing with activity on a global scale. We witnessed two landmark debuts in the United States alone.
When you are ready, buckle up for another edition and let’s dive into this week's newsletter!
BIO BUZZ
🐓 Upside Foods debuted its cultivated chicken at Bar Crenn, marking the first cultivated meat served in the US
Upside Foods held a contest for winners to attend the tasting and tour their production centre, highlighting their capacity to produce 400,000 pounds of cultivated meat annually.
The company plans to make its cultivated chicken regularly available at Bar Crenn through ongoing dinner services, promoting a sustainable and conscientious future of food.
Chef Dominique Crenn, who removed meat from her menu in 2018 due to environmental concerns, expressed excitement about serving Upside's cultivated chicken “…because Upside Chicken is the first meat that I feel good about serving.”
Read full article - Green Queen
🐔 Chef José Andrés served Good Meat's cultivated chicken at China Chilcano in Washington, DC
Chef José paid tribute to Willem van Eelen, the "godfather of cultivated meat," who dedicated his life to creating a sustainable alternative to meat production by envisioning a world where meat could be grown from cells, not animals.
Good Meat, a subsidiary of Eat Just, Inc., obtained USDA approval to sell its chicken to American consumers just days before Upside Foods.
The introduction of cultivated meat marks a significant milestone in the history of meat production, and the public will have limited opportunities to taste this revolutionary dish later in the summer.
Read full article - Green Queen
🇭🇰 86% of people in Hong Kong want to see more plant-based options in public places
79% of people want the government to set up emissions reduction targets and lower-carbon food production strategies, while 70% believe that Hong Kong restaurants do not offer enough meat-free options.
EATcofriendly is calling on the Hong Kong government to set a target for 50% of food sold on public premises to be plant-based, following the example of cities like Paris and Seoul.
In 2020, 83% of citizens expressed their intentions to reduce meat consumption, and Deliveroo saw a 104% increase in vegan options in Hong Kong. Recently, 40% of people in nearby mainland China have actively reduced meat consumption.
Read full article - vegconomist
🇺🇸 The White House highlighted precision fermentation as a major focus in the expanding the US bioeconomy
President Biden signed an executive order to increase training and education opportunities in biotechnology and biomanufacturing.
The report identifies three major sectors of the emerging bioeconomy: Biomedical, Agricultural, and Bioindustrial, with precision fermentation listed as a key component in the agricultural sector.
The inclusion of precision fermentation in the bioeconomy is seen as positive, supporting job creation, stronger supply chains, and lower prices, particularly in the alternative protein industry.
Read full article - vegconomist
🇳🇱 Cultivated meat tastings will soon be allowed in the Netherlands
This marks a significant milestone for the country that pioneered the category more than a decade ago. Currently, the sale and consumption of cultivated meat are prohibited in the Netherlands, including tasting prototypes in development.
A change in legislation was passed in 2022 to permit tastings, and the endorsement from the Cabinet is expected soon, with the first official tastings anticipated later this year.
Full regulatory approval for commercial sale in Europe is not expected soon and requires a comprehensive risk assessment and approval from the European Food Safety Authority (EFSA) and the European Commission.
Read full article - Green Queen
🌱 Over 160 NGOs are urging President Biden to issue an Executive Order promoting healthy, plant-based food in federal facilities
According to the groups, although plant-based choices are available in almost all facilities, traditional meals still overwhelmingly dominate the menus and account for a significant portion of the $8.8 billion federal food budget.
Signing organizations include ProVeg, the Center for Science in the Public Interest, Harvard Law School, Mercy for Animals, the Environmental Working Group, and the American Heart Association.
The shift towards plant-based meals can benefit human health, sustainability, animal welfare, and contribute to reducing long-term healthcare costs and climate impact.
Read full article - Green Queen
🍫 WNWN Food Labs won 'Best Demo' in the Häagen-Dazs Start-Up Innovation Challenge for its cocoa-free chocolate
The London-based company’s cocoa-free chocolate is a one-to-one replacement for traditional chocolate, reducing ice cream's overall carbon footprint and addressing health and environmental sustainability issues.
The unique cocoa-free chocolate is vegan, caffeine-free, gluten-free, palm oil-free, and lower in sugar, made from plant-based ingredients such as legumes and cereals through a proprietary fermentation process.
WNWN's dark chocolate generates 80-90% fewer greenhouse gases than traditional chocolate, offering a solution to potential chocolate shortages and rising prices caused by climate change.
“The numbers don’t lie: chocolate itself generates more emissions per kilogram than dairy, so switching just that one ingredient dramatically reduces ice cream’s overall carbon footprint without requiring any other production changes.” - Ahrum Pak, WNWN CEO
Read full article - Green Queen
🇬🇧 Ivy Farm Technologies and Finnebrogue announced a “world-first” partnership to develop and sell cultivated Wagyu beef burgers in the UK — once cultivated meat gets the regulatory green light
Cultivating Wagyu beef involves taking cells from Finnebrogue's herd and growing them at Ivy Farm's facility, showcasing the potential of cultivated meat to reduce pressure on traditional farming while maintaining taste and quality.
Ivy Farm is a spin-off of Oxford University and has developed innovative technology to cultivate meat, owning a state-of-the-art R&D facility and pilot plant in Oxford.
In 2022, Which? magazine awarded Finnebrogue's Wagyu beef burgers the title of the best burger in the country. Finnebrogue is also popular for its assortment of pork sausages, and in 2020, it expanded into the plant-based category by introducing a facility and launching its brand, Better Naked.
Read full article - vegconomist
🥛 Kiddiwinks is nourishing kids with plant-based milk that offers key nutrients lacking in dairy milk
The company used a proprietary blend of oats, chickpeas and chicory root to provide a healthy drink that addresses nutritional shortfalls, such as fibre, and offers a 1:1 nutritional replacement for cow's milk with ample calcium, Vitamin D, and 8 g of protein per serving.
Kiddiwinks' milk is free from the top 9 allergens, making it suitable for a wide range of children. The flavours, Chocolate and Vanilla, are designed to be familiar and appealing to even the pickiest eaters.
Kiddiwinks is packaged in cans, offering a sustainable and easily recognizable option on retail shelves. The brand aims to become a household staple and is focused on marketing and reaching more consumers.
“Fiber is a critical nutrient that 94% of Americans don’t get enough of which presents a range of health issues in kids,” - Stephanie Banham-Eichner, Founder of Kiddiwinks
Read full article - vegconomist
🇸🇪 Re:meat emerged from stealth to build Scandinavia’s first large-scale production of cultivated meat
The company claimed to have developed the world's first cultivated Swedish meatballs using its patented technology and received positive feedback on texture, taste, and flavour.
Re:meat believes in leveraging new technologies and products to address challenges in changing human behaviour towards food choices. The company prioritizes tackling cost and scalability hurdles in cultivated meat production, rather than focusing on prototype R&D.
The company is building a pilot facility in 2024 to optimize and adapt its serum-free technology in collaboration with future partners, emphasizing a focus on scaling production from the beginning.
Read full article - vegconomist
🇦🇹 Arkeon Biotechnologies opens pilot production facility to bring CO2 proteins to market
The company's technology converts CO2 into functional protein ingredients, requiring significantly less land (99% less) and water (only 0.01%) compared to traditional agriculture.
The new facility expands the company’s infrastructure with a 150L bioreactor system that will lay the foundation for future large-scale production. Arkeon plans to expand its production capacity with a 3000L bioreactor by the end of 2024, enabling commercial production.
The company has attracted investors and secured funding to develop its process and build a new R&D centre, aiming to scale up its production technology for large commercial outputs.
Read full article - vegconomist
🇨🇭 Givaudan has expanded its Protein Hub in Switzerland to support the development of dairy alternatives
The Protein Hub provides direct access to experts in science, technology, and consumer insights, who can assist in creating dairy alternative products with desired taste and functionality.
The facility integrates digital tools and AI solutions, such as ATOM technology, to enhance the taste and flavors of alternative dairy products, and VAS technology for real-time testing and co-creation with consumers.
Givaudan has established a global innovation ecosystem with various facilities worldwide, including the Protein Innovation Centre in Singapore, the MISTA Centre in San Francisco, and the Tropical Innovation Lab in Brazil, to support customers in different markets.
Read full article - vegconomist
Hungry for a weekly feast of news and updates on the future of food? Devour our free subscription! 👇🏾
BIO BUCKS
💰 Chiron Capital Management makes strategic investment in Beyond Meat indicating confidence in the company and the broader industry
In May, Beyond Meat experienced a boost to its stock price thanks to better-than-expected Q1 results and the company opened a $200M equity offering. Chiron reportedly purchased 10,953 shares of BYND at an estimated value of $178,000 in Q1, 2023.
Beyond Meat continues to expand and launch new products, including pepperoni, chicken fillets, and a meatier version of Beyond Sausage.
Beyond Meat is focusing on international market expansions, particularly in Europe, where plant-based food sales have increased, and there is a growing trend of reducing animal protein consumption.
Read full article - vegconomist
🇨🇦 ADM acquired Prairie Pulse, a lentil and pulse crop processor, to expand its capability and supply pulse products for the growing demand
Prairie Pulse’s operations involve 12,000 MT of bulk storage, cleaning, milling, sorting, sizing, and bagging. This expansion doubles ADM's ability to provide shelf-stable and alternative protein products to both domestic and international markets.
Companies across different regions are investing in pulse-based protein sources to meet health and sustainability requirements, such as Bunge constructing a soybean processing facility and Megmilk and Agrocorp opening a pea protein plant.
The enduring global trends of sustainability and food security are fueling the growth of alternative proteins, and ADM is actively investing to meet these needs and expand employment opportunities.
Read full article - vegconomist
*Crickets*
While we wait for more Bio Bucks next week, do you fancy becoming a climate ambassador?
🌟 Become a ClimateHack Ambassador
ClimateHack are looking for mission-driven individuals to lead new Chapters and host Meetups in their city. You'll bring together founders, investors, and professionals to accelerate investment and collaboration across ClimateTech.
Ready for the challenge? It’s quick and easy to apply here.
SOCIAL FEAST
📝 Key takeaways from Future Food-Tech's Alternative Proteins Summit
Engage with regulatory agencies early for smoother R&D and regulatory processes. Regulatory frameworks are developing in various countries beyond Singapore and the US.
Consider factors like labour, costs, value chains, and local infrastructure when deciding where to build your plant. Explore creative financing options for your production facility, including partnerships, debt financing, and government support.
In the US, communicate information directly, explicitly, and precisely due to its low-context society.
Read full post - Yeonjoo La
💪🏽 Embracing optimism and realism in the quest for a sustainable food system
The path to reaching objectives in the sector will not be straightforward. Progress will involve highs and lows, challenges, and successes. Stakeholders need perseverance and stay focused despite obstacles.
Success in the sustainable food sector requires collaboration among various stakeholders, including governments, investors, innovators, and corporates across the food supply chain.
While competition in the marketplace is necessary, it's equally important to foster collaboration among industry players. Balancing these two aspects will help drive progress and ensure the long-term success of the sustainable food system.
Read full post - Steve Molino
💰 How these two founders were able to raise over $3 million in an oversubscribed round
They spent two months preparing for the fundraising round, ensuring they had a clean data room with accurate financials, a well-prepared pitch deck, and a clean cap table.
The CFO was dedicated exclusively to the fundraising task, allowing the other founders to focus on running the business. They obtained warm introductions to their top 100 investors in a short period and had the CFO handle the initial calls.
They had a follow-on investment from a GP (General Partner) investor who had a connection to the lead fund, which helped drive valuation and create positive terms.
Read full post - Alex Shandrovsky
Got a taste for this newsletter? Dish it out to your friends!👇🏾
EAR FOOD
🔮 The history of the future of food
Show: Red to Green Food Tech
The worry and question of running out of food have been persistent throughout human history, reappearing in intense debates every few decades.
Four main reasons often fuel these worries: sudden inflation in food prices, environmental stresses, scary demographics (such as population growth), and cultural anxieties.
Historical solutions and ideas for the future of food have been proposed for over a century, including early beliefs in burgers made from algae.
🦴 Brewing human and vegan collagens with Geltor's Alex Lorestani
Show: Grow Everything Biotech
Guest: Alex Lorestani, CEO and Co-Founder of Geltor
The episode explores the innovative world of collagen proteins and their applications in the beauty and food industries, highlighting their potential for sustainable product development.
They emphasize the importance of inclusivity in product development, specifically catering to diverse lifestyles such as halal and kosher and the need to consider different cultural and dietary requirements.
They touch on the transformative role of biotechnology and its potential impact on the livestock industry, suggesting a shift towards more sustainable and efficient practices.
VISUAL DELIGHT
🖨 Steakholder Foods CEO, Arik Kaufman, talked about 3D bioprinters and cultivated meat on CNN
Watch full video - Steakholder Foods
That’s all for this week. Take care and have an awesome week! 🙌🏾
Got any ideas on how I could improve the newsletter? Your input is super valuable to me. Drop me a line or two on LinkedIn or Twitter and let's start a conversation!