Better Bioeconomy Weekly - May 22nd 2023 🌏
Better Bioeconomy Weekly - May 22nd 2023 🌏
Former Google CEO is bullish on the fast-growing trillion dollar bioeconomy
As we kick off a new week, I wanted to remind you of something important: exercise and stay active! 💪🏾
Alright, buckle up for an information-packed edition as we dive right into this week's newsletter! 🤿
BIO BUZZ
📈 Why Former Google CEO Eric Schmidt Is Betting Big On The Trillion Dollar US Bioeconomy
Schmidt highlights the importance of scaling the bioeconomy globally, worth trillions. He believes future biotechnologists are vital in realizing this potential and addressing global challenges.
He highlights biotechnology's potential for efficient and sustainable manufacturing. Companies like Genentech, BioNTech, and Impossible Foods demonstrate how lab research drives cost reduction and promotes sustainability.
Schmidt stresses collaboration, diversity, and viewing competitors as partners to drive the bioeconomy. Inspired by Silicon Valley's scalable solutions, fostering excitement within the field can boost its growth and benefit humanity.
Read full article - Forbes
🔍 Lever VC Released Internal Benchmarks to Prevent a “Theranos-Style Outcome” in the Cultivated Meat Industry
The internal benchmarks assess the scientific progress of early-stage cultivated meat companies. The goal is to help investors make more informed decisions in a complex and nascent industry.
Many investors in the cultivated meat category lack scientific or technical expertise, and basic technical due diligence is often overlooked, highlighting the need for better understanding and evaluation of companies' technologies.
The cultivated meat industry has a mix of generic pitches and innovative technologies. Some companies could disrupt high-throughput production, but smaller companies without uniqueness face challenges in obtaining funding.
ICYDK: Theranos, led by Elizabeth Holmes, claimed to revolutionize blood testing but their technology was exposed as faulty. Fraud allegations arose, emphasizing the need for careful evaluation and skepticism when assessing scientific claims, especially in emerging industries.
Read full article - AgFunder
Download Lever VC’s benchmarks
🐔 TiNDLE Has Announced TrueCut, Its First Whole-Cut Plant-Based Chicken Product
TiNDLE's TrueCut technology replicates the flavour, texture, and mouthfeel of conventional chicken using advanced plant-based protein development techniques.
TrueCut’s protein base includes water, soy protein, sunflower and rapeseed oils, natural flavourings, and salt. Also, TrueCut is GMO-free and cholesterol-free.
Next Gen Foods (parent company of TiNDLE) has achieved recent milestones, including expanding to 350 Morrisons supermarkets in the UK and 6,000 German supermarkets, and acquiring gelato startup Mwah!
Read full article - Green Queen
🐟 Franklin Farms Introduces Plant-Based Tuna
Franklin Farms, a division of Keystone Natural Holdings, has over 20 years of expertise in plant-based protein foods and offers a variety of other plant-based products.
The plant-based tuna is a 1:1 replacement for regular canned tuna, imitating its flavour and texture. It provides a savoury taste and 9-10g of protein per serving. It's fish-free, non-GMO, cholesterol-free, and mercury-free.
Franklin Farms aims to provide a sustainable and healthier alternative to traditional tuna, addressing issues such as overfishing, pollution, and bycatch, while offering a high-quality, vegan option for consumers.
Read full article - Asia Food Journal
🍔 Motif Foodworks Has Launched a New Range of Vegan Meat Products Targeting the Foodservice
The company aims to cater to the increasing consumer demand for superior plant-based alternatives and provide restaurant owners and operators with menu items that mimic the flavour and texture of conventional meat.
The new range of vegan meat products (Motif PorkWorks, Motif BeefWorks, and Motif ChickenWorks) are made using Motif's Hemami and Appetex proteins, which help recreate the texture, taste, and nutritional profile of animal meat.
Motif's innovative technology aims to revolutionize the sector by replicating the unique flavour and succulent, springy texture of meat products, offering a more "authentic" taste experience.
Read full article - Green Queen
🍕 New Culture Is Launching Its Precision Fermentation Mozzarella At Nancy Silverton’s Iconic LA Restaurant
It’s the first animal-free cheese to meet Silverton's high standards and be offered at her renowned restaurants. It’s also New Culture’s first foray into foodservice.
Silverton and the New Culture team have created two new pizza recipes for the Pizzeria Mozza menu: a traditional margherita and a caponata pizza.
New Culture aims to have a consumer-facing brand with co-branding on products sold with New Culture cheese. The company received an investment from conglomerate CJ CheilJedang, bringing its total funding to over $28 million.
Read full article - Green Queen
🍔 Beyond Meat Launches Smash Burgers in Foodservice
The burger can be easily customized in size by restaurant operators during cooking. It marks the company's first product launch of 2023.
The burger is crafted to achieve a perfect griddle smash, creating a crispy crust while retaining juiciness. The burgers are served in 2.5-ounce (~70 g) patties.
Despite encountering sales and operational challenges in the past year and a half, Beyond Meat is committed to achieving profitability by implementing strategic measures.
Read full article - Food Dive
🧬 Pairwise’s First Gene-Edited Greens, Under the Brand Name Conscious Greens, Launched in Foodservice
This is the first food product in the US developed with CRISPR technology.
Conscious Greens' Purple Power Baby Greens Blend, made of mustard greens, tastes like lettuce without bitterness. Co-branded with Performance Food Group's Peak Fresh Produce, available in select restaurants and PFG outlets.
Pairwise uses CRISPR to make fruits and vegetables healthier and more appealing to consumers, unlike previous modifications focused on improving yields or pest resistance in commodity crops.
Read full article - Food Dive
🔄 ADM Has Partnered With Air Protein to Scale Protein Production From CO2
Air Protein utilizes single-cell organisms to convert CO2 and other components into protein, offering a sustainable and efficient alternative to traditional agricultural feedstocks
Under the agreement, ADM, which has invested strategically in Air Protein, will work with Air “to identify ways to scale cost-effective ingredients that enable meat substitutes to deliver on their cost, nutrition, flavour and texture targets.”
The partnership grants mutually exclusive rights to build and operate Air Protein's first commercial-scale plant, while ADM brings expertise in flavours and nutrition solutions to expand the applications of Air Protein's technology.
Read full article - AgFunder
🤝 Enzymit Partners With Aleph Farms to Reduce Production Costs and Time-To-Market for Cultivated Meat
Enzymit's insulin substituents in microorganisms can fulfil the function of proteins found naturally in animals with greater desired activity per molecule, reducing cost and development time.
The collaboration addresses the need for non-animal-derived serum protein mimetics that support cell growth in cultivated meat production.
The innovation has the potential to benefit other types of cultivated meat, such as porcine, ovine, and poultry, by utilizing highly stable and more active insulin substituents.
Read full article - The Future of Protein Production
🏆 3 Winning Startups at Future Food Asia Conference
Xsights Digital Pty Ltd won the FFAA Grand Prize for addressing animal welfare and monitoring in the pig farming industry.
Koralo won the inaugural Gateway to Asia Awards for their innovative co-fermentation process for plant-based meat, highlighting the potential for nutritious and affordable options.
Tidetron Bioworks Technology Co., Ltd. received the award for the fastest-growing agrifood biotech startup in China, showcasing their successful biomanufacturing platform.
Read full post by Future Food Asia - LinkedIn
🚀 Solar Foods Was Selected as One of the Winners in Phase II of the NASA Deep Space Food Challenge
Solar Foods' technology grows Solein, a novel protein, using electricity and CO2, and it has the potential to significantly reduce the resources and waste involved in food production in space.
The company's success in the challenge confirms the viability of its space food application and opens up opportunities for collaboration with space agencies and companies involved in space exploration.
Solar Foods' space concept integrates with spacecraft life support systems, using crew-exhaled CO2 and waste hydrogen from O2 generation system to produce Solein, providing an economical and sustainable solution for space missions.
Read full article - The Future of Protein Production
🥇Shanghai Changing Biotech Co (Changing Bio) Won the Sustainability Innovation Award at BEYOND Expo 2023
Changing Bio launched the Kluvy Protein and Alternative Dairy Products For Professionals, positioning them as "future food, from nature" derived from the purest part of Shangri-La and produced through advanced biotechnologies.
The company showcased its products at the expo, attracting various visitors including governmental officials, renowned hotel and restaurant groups, investment firms, and international media.
Changing Bio specializes in mycoprotein and recombinant protein, using advanced techniques like mutagenesis, directed evolution, and genetic engineering to develop unique strains and proteins for mass production and diverse food applications.
Read full article - The Future of Protein Production
BIO BUCKS
📈 Beyond Meat Exceeds Q1 Earnings Expectations, Announces $200 Million Equity Offering
Beyond Meat ($BYND) exceeded Q1 revenue estimates at $92.2M, surpassing the projected $90.7M. Despite a loss of $45.8M, it performed slightly better than the anticipated $48M loss. Positive cash flow is targeted by H2 2023.
BYND plans an equity offering to generate up to $200 million as sales dwindle and cash reserves deplete, aiming to bolster working capital and cover general corporate expenses.
Despite declining assets, international food services revenue grew while retail sales slumped. Partnerships with fast-food chains like McDonald's boosted BYND's recovery, with the Double McPlant burger launch nearly doubling international foodservice sales.
Read full article - Green Queen
🍄 Prime Roots Has Raised $30 Million in Series B Funding Round for Its Deli Slices Made From Mycelium
Prime Roots recreates deli meat using sustainable koji-based mycelium protein. Renowned chefs collaborated to create plant-based alternatives for cracked pepper turkey, black forest ham, hickory bacon, salami, and pepperoni.
The deli slices are nutritionally superior to conventional deli slices as they are free from nitrates, preservatives, cholesterol, soy, and wheat, and contain less sodium than leading vegan brands.
Prime Roots' production methods are 89-92% more sustainable than traditional meat production, reducing emissions and land use. They can produce deli meats in just 3-5 days, much faster than traditional methods.
Read full article - Green Queen
🤝 Megmilk and Agrocorp Invests $21 Million to Form JV to Build Pea Protein Facility in Malaysia
The joint venture (JV) is called Snow Pte Ltd. Agrocorp will contribute 51% and Megmilk 49% to build a factory in Malaysia producing pea protein, pea starch, and pea fiber for plant-based beverages, meats, and cheese.
Megmilk is interested in entering the Japanese market for plant-based consumer products either by creating its own brand or partnering with an established brand.
Pea protein production capacity has been expanding rapidly globally, with companies like PURIS, Ingredion, ADM, and Cosucra opening new facilities.
Read full article - AgFunder
📈 66% Of Alt Protein Companies in the USA Have Seen Increased Sales Volume Since 2021
Plant-based meat companies in the US are thriving despite negative press influenced by meat and dairy lobbies, shifting focus towards realistic goals.
The alt protein sector is maturing and mirroring traditional food companies in terms of production and consumer appeal goals.
Key business drivers for the alt protein sector include lower production prices, capital improvement plans, and readiness to scale up, indicating promising evolution for the industry.
Read full article - vegconomist
SOCIAL FEAST
🌟 Behind the Scenes with Dr Sandhya Sriram: Skepticism, Struggles, and Challenges in Building Shiok Meats
Sandhya and her Co-Founder overcame skepticism and financial struggles while starting Shiok Meats. They sacrificed personal time, endured long flights, and worked tirelessly. Despite appearing happy on social media, their journey was filled with stress and hard work.
Despite their lack of experience, the founders remained dedicated to their vision. They aimed to be transparent and kind bosses but faced team management difficulties. They learned from mistakes and openly addressed challenges.
Developing cellular agriculture for crustaceans posed challenges with research, resources, equipment, and unforeseen setbacks. They also managed funding and prepared for potential setbacks.
Read full article by Dr Sandhya Sriram - LinkedIn
🍽️ The Power of Food Choice: Feeding the World by Prioritizing Direct Human Consumption
36% of crops are used for animal feed instead of human food, resulting in an inefficient process and food loss.
In the United States, only 27% of crop calories are consumed directly, while 67% goes to animal feed, primarily soy and corn.
Growing food solely for direct human consumption has the potential to increase available food calories by 70%, feeding an additional 4 billion people, surpassing projected population growth of 2-3 billion.
Read full post by Irina Gerry - LinkedIn
📢 Children's Environmental Concerns: A Call to Action for Adults
(Some) Children are deeply affected by environmental concerns and express their worries about the climate crisis.
Conversations about gender inequality and reducing meat consumption are important topics for children's awareness and involvement in addressing global challenges.
Adults have a responsibility to take immediate action and support children in becoming responsible global citizens to alleviate their concerns and ensure a better future.
Read full post by Mirte Gosker - LinkedIn
EAR FOOD
🌌 Revolutionizing the Way We Think About Food in Space
Show: FoodTech Junkies
Guest: Phnam Bagley, Space Architect and Industrial Designer
Phnam is an industrial designer, futurist and aerospace architect creating cutting-edge hardware and experiences in Wearables, Healthcare and Wellness, Education, Robotics, Transportation, and Aerospace.
She has developed the Space Culinary Lab, providing astronauts with diverse and nutritious meals during deep space travel.
This episode explores the potential of space innovation for improving our current food system and discusses Phnam's perspectives on challenges and solutions.
🥚 Zero Egg: Great-Tasting, Cleaner-Label, Plant-Based Egg
Show: Eat For The Planet with Nil Zacharias
Guest: Liron Nimrodi, Co-Founder and CEO of Zero Egg
Zero Egg is a plant-based egg alternative that is animal friendly, sustainable, and healthier compared to traditional eggs.
The product is 100% plant-based, gluten-free, non-GMO, low in calories and fat, and has zero cholesterol, making it suitable for various dietary needs.
Zero Egg aims to make plant-based food accessible to everyone, offering the taste and texture of a regular egg while having a smaller environmental impact, using less land, water, and energy, and producing fewer greenhouse gas emissions.
🔬 Nanotech and Food Safety: The Good, the Bad, the Dusty
Show: Red to Green
Guest: David Julian McClements, British Food Scientist and Distinguished Professor at the University of Massachusetts.
Nanoparticles' large surface area and unique properties such as optical, electromagnetic, physical, or chemical properties, make them valuable in applications like pesticides, fertilizers, and food products.
Naturally occurring nanoparticles can be found in human milk, nuts, seeds, beans, eggs, and lipoproteins. These nanoparticles, known as casein missiles, contain bioavailable nutrients crucial for infant growth.
Artificial nanoparticles, like nanosilver, can impact human health by entering plants and the body through the gut wall. This can have both positive (enhancing vitamin bioavailability) and negative (potential risks) effects.
VISUAL DELIGHT
💡 Beyond Conventional Thinking: Tackling Climate Change with Powerful Tools by ReThinkX
Environmental problems, including climate change, exceed common understanding. Traditional methods are inadequate; stronger tools and technologies are needed to address the scale of the issue.
Prosperity is vital for solving big problems. Societies require resources and knowledge to conquer challenges. The greater the problem, the more prosperity is needed to address it effectively.
Reducing harmful activities won't solve the problem. We must confront environmental issues by achieving net-zero emissions and repairing the damage.
🚦 Panel on Navigating the Food Safety and Regulatory Landscape for Cultivated Meat
The panel discussed the challenges cultivated meat companies may encounter in terms of regulations and labeling requirements. This highlights the need for industry players to navigate and comply with evolving regulations.
They address strategies for cultivated meat companies to effectively communicate the safety and quality of their products to consumers emphasising the importance of building trust and transparency with consumers.
The panel also explored the complexities surrounding the import and export of cultivated meat products suggesting that international trade and regulations will play a significant role in shaping the global cultivated meat market.
That’s all for this week. Take care and have an awesome week! 🙌🏾
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