vegconomist - the vegan business magazine

vegconomist - the vegan business magazine

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vegconomist - the vegan business magazine episodes

  • Alt-Protein Companies Take Top Two Spots at Israel’s FoodTech 2021 Competition
    Two alt-protein companies, ProFuse Technology and Alfred’s Food Tech, have taken first and second place respectively at Israel’s FoodTech 2021 Competition. The competition was organised by business newspaper Calcalist in collaboration with food creation and marketing company Tnuva. The winner, ProFuse, will be awarded $100,000, either as an investment or for commercial assimilation of its technology in Tnuva. The company will also receive a significant budget for advertising in Calcalist’s online edition. ProFuse is working on technology to accelerate the growth of cultivated meat cells, which is notoriously slow. Increasing the rate of production will be vital if the industry is to be viable. “One of the major challenges in the cultured meat industry is slow production, which affects production costs. We are working to reduce the costs of a kilo of cultured meat from more than a thousand dollars to only about five dollars,” said Dr. Tamar Eigler-Hirsh, ProFuse founder and CTO, speaking to Calcalist. In second place, Alfred’s Food Tech has developed an innovative texturisation platform for producing whole cuts of plant-based meat. Incredibly, the company only started out earlier this year, but it has already raised $1.3 million in seed funding and is in talks with several large corporations. Israel is rapidly becoming a world leader in alt-meat, with Future Meat opening what it claims is the world’s first industrial cultivated meat facility in the country earlier this year. Another Israeli company, MeaTech 3D, became the first cultivated meat company ever to go public in 2020. “We ...
    3 min
  • Future Farm Continues US Expansion With Expansion Into Three Online Retailers
    Brazilian alt-meat brand Future Farm has launched at three online plant-based retailers in the US. Since last Friday, four of the company’s products have been available from Vejii, Hungry Harvest, and GTFO It’s Vegan. Future Farm’s product portfolio consists of vegan burgers, sausages, meatballs, and beef-style grounds. It has also created plant-based chicken and tuna, however these are not yet available in the US. About the retailers Vejii is an online vegan marketplace offering home deliveries of a range of plant-based brands. The marketplace recently signed an agreement with the US’ largest publicly traded grocery distributor, and has helped several smaller vegan companies gain exposure to a wider audience. Hungry Harvest is primarily a supplier of fresh produce. It takes fruits and vegetables that would otherwise be wasted and delivers them to customers’ doors, helping to prevent food waste. Finally, GTFO It’s Vegan is a marketplace that aims to stock the most innovative plant-based products on the market, including bakery items, meat and dairy alternatives, and snacks. The retailer launched last year and fulfilled 1000 orders within its first month alone. Rapid expansion It has been little more than two years since Future Farm first launched in Brazil. Since then, the company has grown at an unprecedented rate, and has already expanded into Europe, the UAE, Canada, and Latin America. Over the summer, Future Farm announced it would begin targeting the US market, hiring former Red Bull executive Alexandre Ruberti as CEO in the country. Initially, the meat alternatives were ...
    3 min
  • Piñatex by Ananas Anam: “We Are Not Only Developing New Materials For a New World, But Also Building a New Plant-Based Ecosystem”
    London-based B-Corp Ananas Anam has just celebrated the fifth anniversary of the commercialization of Piñatex – the innovative natural textile that has taken the fashion world by storm. Made from waste pineapple leaf fiber, the brand claims that Piñatex is the most sustainable plant-based alternative to leather commercially available at scale today. Following a range of fashion collaborations, including with Nike and Mārīcī, Ananas Anam recently penned a historic deal with Dole Sunshine Company – the world’s largest producer of fruit and vegetables, to source raw material for its next-gen materials. We had the great pleasure to speak with Melanie Broyé-Engelkes, CEO of Ananas Anam, to talk about the future of fruit and fashion. Piñatex was the first natural, vegan alternative to leather to really make a breakthrough in the materials sector, can you tell us what made Piñatex stand out and make such an impact? Piñatex is unique because this versatile, natural fabric is made from pineapple leaf fibres, a by-product of the pineapple harvest, meaning that no resources are used in growing the raw material making Piñatex the most sustainable alternative to leather commercially available at scale. Our founder, Dr Carmen Hijosa, was also a pioneer in that she started developing Piñatex over ten years ago and today the textile is the only supply-chain transparent alternative to leather which fully addresses the performance, sustainability, price and capacity growth needs of the market. Carmen has envisioned an industrially scalable technology to create a versatile, natural fabric, that would not ...
    8 min
  • Field Roast Pepperoni and Chao Cheese Shreds Launch Into Whole Foods Market Across US
    Greenleaf Foods, the plant-based arm of Maple Leaf, expands its Field Roast Plant-Based Pepperoni and Chao Creamery Creamy Original Shreds nationally at Whole Foods Market stores in the US, making Whole Foods the first national retailer to carry both products. Greenleaf claims that its vegan pepperoni was the first to be made with pea protein as opposed to soy. Clearly, Greenleaf is increasingly solidifying a supplier relationship with Whole Foods; as we reported earlier this month, the Maple Leaf subsidiary is to exclusively provide Lightlife chicken to all Whole Foods Market prepared foods departments across North America, serving the product in its hot bar, cold salad bar, and grab-and-go offerings. Back in April, Greenleaf launched three Lightlife and Field Roast products into the discount store, including its Field Roast Signature Stadium Dog, which again, according to the company, was the first plant-based hot dog to be made with pea protein. The retailer currently carries Chao Creamery Original Creamy Original Slices, which the company states is the best selling cheese alternative in the USA, and will now stock Chao Creamery Creamy Original Shreds. The products are created with coconut-based ingredients and fermented tofu. “We have seen great momentum with our plant-based pepperoni in the food service sector, with our recent partnership with Little Caesars and select pizza chains throughout the United States and Canada, and our continued growth with Chao Creamery has been reflected through increased distribution across produce and dairy aisles,” says Dan Curtin, President of Greenleaf Foods, SPC. ” ...
    3 min
  • A Strategic Stake in Steak: CULT Food Science Buys Into Wagyu Ribeye Producer Ohayo Valley
    CULT Food Science Corp announces has completed a strategic investment into Berekely’s Ohayo Valley Inc., a cultivated meat science and cell biology company focused on developing and commercializing intellectual property to facilitate the sustainable production of A5-grade cultivated, wagyu ribeye beef. As we reported in August, food innovators around the world are beginning to get involved in alt wagyu across the plant-based, cell-based and even 3D printed spheres. Founder of Canada’s Top Tier Foods, Blair Bullus, noted in an interview with vegconomist that wagyu is hugely appealing to alt meat innovators because “Wagyu beef is widely considered the best beef in the world by meat-eaters and is renowned for its fat marbling and tender qualities.” Ohayo’s unique take on the steak: it claims to have access to “various trade secrets” as well as a “revolutionary process” to recreate the protein, fat, and texture of the beef which are under patents pending. The company indicates that the marbled beef product will be profitable at commercial scale and intends to capture market share by distributing the alt beef to renowned restaurants, for cross-promotion by top chefs and food experts. “CULT’s investment in Ohayo marks an exciting addition to its portfolio, which continues to be high graded by way of the world’s leading companies in the cellular agriculture space. Our team has the benefit and privilege of being able to closely monitor the future of food, while positioning the Company to generate strong returns on its investments for the benefit of shareholders,” said ...
    2 min
  • Veg Capital Invests in Plant Alternative, Pioneer of Frozen Indian “Shicken” Curries
    Veg Capital, the UK vegan investment fund, has invested in plant-based frozen meal service Plant Alternative. Producers of the highly realistic “Shicken”, Plant Alternative creates vegan alternatives to a wide range of Indian food favorites and offers a DTC service.  “We think there is a real opportunity for frozen Indian meals in the curry-loving UK market and beyond” – Matthew Glover, Veg Capital Founded by head chef Satvinder Bains, Plant Alternative will be teaming up with Veg Capital to strategize scale-up through food service, retail, and export. A deal with a major UK retailer is expected to be made soon.  After discovering the Shicken products and being highly impressed by the quality, Veg Capital’s Managing Director Matthew Glover knew the fund had to invest in Satvinder’s labor-of-love company.  The Shicken range is currently available via the Plant Alternative website and comes in compostable packaging with fully recyclable paper sleeves.   “Absolutely Blown Away” Veg Capital, launched by Veganuary founder Glover, is a non-profit vegan investment fund which donates all profits to animal charities. The fund recently collaborated with Sweden’s Kale United, to invest in Brandplant – a Netherlands distributor of plant-based products – as well as completing a significant investment in Clive’s Purely Plants – the Devon-based producer of organic, plant-based pies.  “Since discovering the Shicken range, and being absolutely blown away by how good the dishes were, I contacted the founder Satvinder to see if Veg Capital could invest. The sauces are better than restaurant quality, in my opinion, and ...
    3 min
  • Taiwan’s Frozen Vegan Food Leader Vegefarm Looks to Global Expansion
    With over 25 years in the vegan business, Taiwanese plant-based producer Vegefarm has now set its sight on entering the European and Middle Eastern alt meat markets. The frozen food leader produces and supplies more than 300 kinds of vegetarian and vegan products. Originating from Taipei, Taiwan, Vegefarm currently exports primarily throughout North and Central America, as well as South East Asia. The manufacturer produces products free from transfat and GMO ingredients, with accreditation from The Vegan Society as well as Halal. Vegefarm boasts a diverse range of vegan products for foodservice and retail, including its flagship vegan shrimp, vegan shiitake steak, and vegan half-chicken, as well as various plant-based beef, chicken, and tuna lines amongst others. The burgeoning vegan food scene in Taiwan continues to grow, with Taiwan’s biggest QSR chain, Bafang Yunji, recently increasing its plant-based options, while China continues to drive both the alt meat and alt dairy markets. ...
    2 min
  • USA’s “First Ever” Plant-Based Heritage Lamb Launches at San Francisco Restaurant Chain Souvla
    San Francisco-based Greek restaurant chain Souvla has added vegan lamb to its menu. Made by Black Sheep Foods, it is described as the USA’s first “heritage breed” lamb alternative. Previously, Souvla’s only vegan option was roasted white sweet potato. While this option is popular, customers had requested more choice, with many wanting to see a meat alternative offered. Souvla said it had considered offering Impossible Foods’ plant-based beef, but decided against it because beef is not used in any of the restaurant’s dishes. Lamb, on the other hand, is served by the chain and is strongly associated with Greek food. Speaking to Eater, Souvla’s founder and CEO Charles Bililies said Black Sheep’s lamb was almost indistinguishable from the conventional variety in many aspects, including its distinctive smell. Souvla prepares the two types in the same way, by slicing the lamb into cubes and marinating it. While significantly less common than beef, chicken, and pork alternatives, a few companies worldwide have now launched vegan lamb products — for example, Wicked Kitchen recently introduced a market-first plant-based lamb joint in the UK. PlantMade offers a vegan lamb seekh kebab in India, while Irish meat producer ABP has launched a plant-based range that includes frozen “lamb” pieces. Black Sheep’s lamb is now available at all four of Souvla’s locations, and it will begin rolling out at other restaurants in six weeks’ time. “We’re fortunate — so much of this innovation is happening right here, where we’re based,” Bililies told Eater. “Black Sheep came ...
    2 min
  • Catering Company Sodexo UK&I to Make a Third of Its Meals Plant-Based by 2025
    Sodexo UK and Ireland, a catering giant providing meals to thousands of organisations, has announced that a third of the meals it offers will be free of animal products by 2025. The move is part of Sodexo’s drive to reduce its carbon emissions to net-zero. The company was initially aiming for a 34% drop in emissions by 2025, but it has set more ambitious targets after achieving this goal ahead of schedule. Worldwide, Sodexo has increasingly been offering more plant-based options in recent years. Last year, the company launched JUST Egg in the US, after previously introducing the Impossible Burger in 1500 locations. Sodexo also co-produced the Future 50 Foods Report in 2019, which identified 50 healthy foods with a low environmental impact. Following the report’s publication, the company rolled out 40 plant-based recipes containing the foods. Along with increasing the number of plant-based meals on the menu, Sodexo plans to take several other measures to reduce emissions, including: Moving towards 100% renewable electricity. Using entirely recyclable, reusable, or compostable packaging. Reducing food waste by 50% by 2025. Using only electric and hybrid vehicles for its company cars. “The commitments we make today are the culmination of an extraordinary amount of work from our world-class team of sustainability experts,” said Sean Haley, chairman of Sodexo UK and Ireland. “Their unswerving dedication to developing, not just a set of targets, but a detailed action plan to achieve them, gives me absolute confidence in our future ability to not just meet but ...
    2 min
  • “China’s First Cultivated Meat Company” Raises $10.9M to Build Pork Production Line
    Leading Chinese cultivated meat company Joes Future Food has raised 70 million RMB ($10.9 million) in its Series A funding round. Participants included Hillhouse Capital and Matrix Partners China. Joes claims to have been the first food-tech startup in China to carry out cultivated meat research and development, creating the country’s first cultured meat in 2019. Since then, Joes has been improving and refining the process and has successfully developed a serum-free culture medium. Last year, the company — previously known as Nanjing Zhouzi — raised around $3 million in an angel round. Joes will use its Series A funding to bring down costs, improve the production process, and build a pilot production line for cultivated pork products. The company says its aim is to “ensure the future supply of meat products in China and meet the market demand for green and low-carbon meat consumption”. Worldwide, there has been concern about whether consumers will be willing to eat cultivated meat, but studies suggest that acceptance is much higher in China than it is in the West. This is an important finding, since China is the world’s most populous country and demand for meat is soaring as incomes rise. Last year, a Chinese official called for a strategy to be put in place so that the country would not fall behind others when it came to developing cultivated meat. “The company will further strengthen its core team, increase investment in R&D, and accelerate the industrialization process,” said Dr. Ding Shijie, co-founder ...
    2 min

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