Hey there!
As we kick off a new week, I wanted to drop a friendly reminder: food tech is climate tech.
Alright, when you are ready, buckle up for another edition as we dive right into this week's newsletter!
BIO BUZZ
🇺🇸 Eat Just and Upside Foods received approval to sell cultivated meat for the first time in the US
The approval is a significant step forward for the cultivated meat industry and a major moment for the food system as a whole. This makes the US the second market in the world to have the ability to sell cell-cultivated meat after Singapore.
Cultivated meat offers a more sustainable future, preserving choice and life while reducing land and water usage compared to conventionally produced meat.
This regulatory approval showcases the United States' leadership in the alternative protein space and supports the goal of building a safer, more efficient food system.
Read full article - Green Queen
💡 Key findings from GFI APAC’s cultivated meat report
Obtaining commercially relevant cell lines is a major challenge for cultivated meat producers. Many companies are pursuing similar species, cell types, and product characteristics, resulting in duplication of effort.
Companies are interested in obtaining cell lines from both terrestrial and aquatic species. Slaughtered animals are heavily relied upon for cell sourcing, posing challenges for companies seeking alternatives.
Regulatory hurdles and understanding documentation and safety testing requirements are major concerns for obtaining regulatory approval.
Read all key findings - LinkedIn
🧠 How to leverage consumer psychology for effective alternative protein marketing
Alt protein brands should provide both immediate satisfaction and long-term benefits to appeal to a wide audience. Successful companies in other industries have found ways to balance these two aspects.
To broaden market reach, alt protein brands should redefine segmentation beyond meat (pun intended) lovers and environmentalists. Consider innovation, gratification, and change meanings for diverse segments to boost sales.
During the launch, focus on innovators and early adopters. However, alt protein brands must also target the wider market. Customize messages for consumers in various adoption stages, highlighting discovery, values alignment, benefits education, safety, and cultural identity connection.
Read full article - Green Queen
🇯🇵 The APAC-SCA and the JACA have formed a partnership through a MoU to promote cellular agriculture in Japan and broader APAC
The MoU emphasizes the importance of global collaboration in the cellular agriculture industry, aiming to establish long-lasting ties with key stakeholders and associations both regionally and globally.
The agreement allows JACA (Japan Association for Cellular Agriculture) to gain enhanced access to the global cell-cultured industry network, while APAC-SCA (Asia-Pacific Society for Cellular Agriculture) will play a role in guiding regulatory progress in Japan.
Japan aims to focus on developing the cell-based agriculture industry to cut carbon emissions. This move positions Japan to become a world leader in the field and attract international startups.
Read full article - Green Queen
🚀 Shiru commercializes first food ingredient based on AI-powered discovery platform in just three months
The ingredient, OleoPro, is a plant protein-based fat ingredient. Shiru’s biochemists and computational biologists used AI and bioinformatics to scan and select nearly 10,000 formulations in less than 3 months to produce OleoPro
OleoPro offers significant benefits, including up to a 90% reduction in saturated fat, improved technical performance in alternative meats, and a juicy, fatty mouthfeel in plant-based meat applications.
Shiru's machine learning model has the potential to further accelerate the discovery process, with a goal of finding new proteins or functional ingredients in 8-10 weeks.
Read full article - The Spoon and GEN
🍔 Impossible Foods debuts the Impossible Indulgent Burger, a premium version of the original that is juicier and meatier
According to Impossible, 82% of consumers say the new burger’s taste is as good as, or superior to traditional beef.
The new burger showcases reduced shrinkage compared to traditional beef when cooked on a grill or stovetop, providing a satisfying experience for both special dining events and casual barbecues.
Impossible Foods aims to expand its product portfolio and attract a wider audience to the plant-based meat market, offering consumers more options while promoting sustainability and health benefits.
Read full article - Green Queen
🤝 More Foods collaborates with Osem-Nestlè Group to introduce a range of 'meaty' products made from pumpkin seeds
The partnership aims to meet the growing demand for healthy and eco-friendly food options, particularly in the Israeli market, where a significant portion of the population follows vegetarian or vegan diets.
More Foods utilizes discarded remnants of nutrient-rich seeds, known as "superfoods," generated during the production of pumpkin seed oil and sunflower seed oil to create innovative alt meat products.
More Foods is expanding internationally, with its products already available in over 100 Israeli restaurants and plans for distribution in Europe and the UK, leveraging the market accessibility and resources of the Osem-Nestlè Group.
Read full article - vegconomist
🇮🇱 Israel Innovation Authority (IIA) selects YDLabs to build NIS50 million ($14 million) fermentation facility
The facility aims to support and strengthen Israel's alt protein ecosystem, which is considered a national priority. YDLabs, an Israeli fermentation company, has been selected to lead the construction of the facility.
The facility will provide fermentation services, including research, development, economic feasibility experiments, and assistance in food regulations, to advance and launch alt protein products.
Israel aims to prioritize the food tech field and establish local infrastructure to prevent knowledge leakage and enable regulatory advancements tailored to the country's needs.
Read full article - vegconomist
📈 Four factors to advance the alt protein ecosystem by ADM
The four key areas of focus to drive the expansion of the alt protein space: anticipating advancements, championing consumer adoption, bridging the gap to better nutrition, and solving accessibility with a tailored approach.
Innovations that meet evolving consumer needs can make novel proteins more available and successful, leading to positive changes in the food system and the planet's health.
Understanding consumer needs, anticipating trends, fostering industry collaboration, and investing in advanced technologies are key for developing and innovating a protein arena that prioritizes both people and the planet.
Read full article - vegconomist
🥊 Cargill sets out to beat plant-based companies at their own game
The agribusiness giant and one of the largest meat producers in the US aims to become a major player in the meat alternatives industry and believes it can compete with companies like Beyond Meat.
Cargill came relatively late to the plant-based market, behind competitors such as Tyson and Smithfield. The late entry is part of a deliberate strategy, as other meat companies treat plant-based products as a fad putting Cargill at an advantage.
Cargill is investing in developing improved meat alternatives (cultivated meat, fish, and plant-based options) while also focusing on price reduction. The company is actively partnering with alt protein companies to enhance its R&D.
Read full article - vegconomist
BIO BUCKS
🇬🇧 VFC bails out vegan meat company Meatless Farm in a £12 million deal
The acquisition comes after Meatless Farm laid off most of its team due to failing to secure additional funding. Meatless Farm's brand will remain intact and its product range will be integrated with VFC Foods' offerings.
The strategic purchase is a vital step in VFC Foods' expansion plans and aligns with its mission to provide more vegan options and eliminate animals from the food system and this acquisition marks VFC’s first acquisition.
The acquisition reflects the rapid expansion of the plant-based industry in the UK and the EU, driven by increasing sales of plant-based milk, meat, and cheese, and the importance of reducing meat consumption for a healthier future.
Read full article - Green Queen
🇨🇳 CellX raised $6.5 million in a Series A+ funding round
The funding round brings the company's total funding to over $20 million, making the Shanghai-based company the highest-funded cellular agriculture company in China.
CellX aims to address the challenge of producing cultivated meat at a competitive cost at scale. China consumes >100 million tons of meat annually (>25% of global meat consumption), so achieving low-cost, high-volume production is key.
The company is constructing a pilot production facility in partnership with Tofflon, which will serve as a transparent food space for research, production, and public tasting.
Read full article - Green Queen
🥩 Adamo Foods secured £1.5m in funding to introduce its mycelium-based steak to the mainstream consumer
The company aims to address the lack of high-quality whole-cut vegan meat alternatives and has successfully reproduced the texture of meat using fungal mycelium.
The mycelium-based steak also boasts high protein and fiber content and surpasses other plant proteins and beef in terms of protein quality.
Adamo's future plans include collaborating with research partners to enhance the nutritional benefits of mycelium and refining its fermentation and formulation processes for a product launch.
Read full article - Green Queen
🥯 BetterBrand raised a $6 million Series A to expand its high-protein, ultra-low-carb bagels
The company expects to break even by Q4 this year after experiencing significant growth in retail accounts. It initially launched DTC in 2021 and achieved $1 million in retail sales within 5 months of entering retail at Whole Foods in Q3 2022.
BetterBrand targets multiple consumer segments such as low carb/keto, athletes, health-conscious individuals, diabetics, and parents seeking healthier bread options.
Better Bagels, the company's flagship product, contains 26g of protein and 5g of net carbs per bagel, compared to 10g of protein and 50g of net carbs for a typical white bagel.
Read full article - AgFunder
🐮 Omeat has secured $40 million in funding to scale up a unique approach to cultivated meat production
The process involves the humane extraction of growth factors from living cows. This avoids the use of FBS and recombinant proteins, making it more cost-effective and scalable than methods used by other cultivated meat startups.
Although some might argue that the purpose of cultivated meat is to displace animal agriculture, the CEO claimed that Omeat’s approach could enable a 95% reduction in cattle production and transform the economics of cultivated meat.
Omeat's operation at scale would involve utilizing 3-4,000 cows annually, without slaughtering them, to produce ingredients for 10,000 metric tons of meat. Their process can generate 20 times more meat compared to traditional methods.
Read full article - AgFunder
SOCIAL FEAST
📝 A letter to UC Davis on questionable assumptions of recent studies on cultivated meat
Recent headlines based on the worst-case scenarios in a pair of recent pre-print studies from UC Davis highlighted a 25x higher environmental impact of cultivated meat compared to conventional beef.
Critiques of the studies revealed compounding errors in assumptions related to pharma-grade ingredients, endotoxin justification, proxy study usage, and off-the-shelf media formulation.
When these assumptions are removed and more realistic scenarios are considered, the findings align with other studies, showing significantly lower carbon footprints for cultivated meat compared to conventional beef.
Read Elliot Swartz’s letter - LinkedIn
🤨 The understanding of what "plant-based" means remains debatable
The term "plant-based" is not regulated by a dedicated piece of legislation. Only a few countries have issued guidelines or laws to regulate the use of the term "plant-based."
Some players in the food industry consider "plant-based" to be identical to veganism, while others see it as a descriptor for products that contain ingredients from plant origin without excluding milk or meat.
The ISO 23662:2021 standard on vegetarian and vegan foods contradicts the principle of veganism due to tolerance for animal testing, leading to lack of support from vegan and vegetarian certification bodies.
Read Mathilde Do Chi’s post - LinkedIn
🙃 VCs, it’s time to check your spam folders
EAR FOOD
💼 Careers in alt protein: Insights from Nate Crosser, Principal at Blue Horizon
Show: Cultivating Careers in Alternative Proteins
Guest: Nate Crosser, Principal at Blue Horizon
Nate Crosser emphasizes the importance of thinking outside the box and exploring innovative approaches. Instead of limiting oneself to conventional ideas, it's crucial to foster creativity and explore new possibilities.
Nate suggests connecting your personal interests and passions with the alt protein industry. By doing so, you can find greater motivation and fulfilment in your work, contributing to the growth and development of this emerging sector.
The mention of Nate's diverse background, including his work at the Good Food Institute and his Juris Doctor in Commercial Law, highlights the significance of having a wide range of experiences.
🎙 This week in alt protein by Green Queen Media
Show: Green Queen Alt Protein Weekly
Regulators have given UPSIDE Foods and Eat Just the green light, marking a historic moment for the cell-cultivated space. While it may take more time for the majority of the consumer to try it, this is an impressive feat from both companies.
VFC has acquired Meatless Farm and keeps the beloved UK brand name alive. Was the acquisition a steal for VFC?
Does the recent valuation headline for Impossible Foods (FYI it’s a private company) even matter? Perhaps the current valuation is more reasonable than what it was during the previous funding round.
VISUAL DELIGHT
💡 Building a Career in the Alternative Protein Space: Tips and Insights from GFI
The purpose of the call is to provide information and answer questions about building a career in the alt protein space.
The call is for participants from various backgrounds, including technical and non-technical roles, students, entry-level professionals, and experienced individuals from other industries.
The presentation covered different career fields, along with tips and resources for building a career in the alt protein space.
That’s all for this week. Take care and have an awesome week! 🙌🏾
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