vegconomist - the vegan business magazine

Notpla, a seaweed packaging startup, has raised £10 million in Series A funding for its sustainable packaging solution. Named Ooho, the alternative to plastic is an edible and fully biodegradable packaging made of seaweed.  As first reported by Silicon Canals, London-based Notpla will use the fresh funds to grow its manufacturing capacity while developing new innovations, such as a transparent flexible film and a seaweed paper. According to the company, seaweed is one of the planet’s most abundant sources of biomass and its production is highly sustainable.  Seaweed production does not compete with food crops, requires no fertilizer or freshwater, and sequesters carbon dioxide. Founded in 2014 by Rodrigo Garcia Gonzalez and Pierre-Yves Paslier, Notpla’s products easily biodegrade in just 4-6 weeks without the need for industrial composting or special conditions. The End for Plastic Packaging?   In the EU, the new Single-Use Plastic Directive aims to ban synthetic materials which are a major cause of pollution. Notpla’s Ooho packaging has been used in place of plastic packaging over 500,000 times at major international events such as the London Marathon. The Notpla takeaway box has also entered the market in collaboration with Just Eat in the UK and is now in use at hundreds of restaurants. Click here to display content from YouTube.Learn more in YouTube’s privacy policy. Always display content from YouTube “At Notpla we believe that, ‘Nature knows best’, and we only use naturally occurring materials that have had millions of years to adapt with the rest of the ...

Investment firm Blackstone has revealed it is to acquire a majority stake in Texan suncare brand Supergoop. It is believed that Blackstone will value the company at between $600 and $700 million. The investment will allow Supergoop to expand further, launching new product lines aimed at children and athletes while also breaking into new markets. Supergoop describes itself as “the only prestige skincare brand 100% dedicated to suncare”. The company’s skincare and cosmetic products, which include moisturiser, body butter, and eyeshadow, all offer UV protection. None of Supergoop’s products are tested on animals, and the vast majority are vegan-friendly — with the sole exception of the brand’s lip balm, which contains beeswax. Green investments by Blackstone Last year, Blackstone sparked controversy when it invested in Oatly. Many people felt that the Swedish oat milk brand, which has a focus on sustainability, should not accept funding from Blackstone due to the firm’s alleged links to deforestation in the Amazon. However, Oatly said it planned to show Blackstone that green investments were the way forward, encouraging the investment company to make better choices in future. Subsidiaries of the Blackstone Group also own Performance Food Group Company (PFG), a US giant that last year announced the launch of a plant-based line called Green Origin. Following the launch, PFG now has one of the biggest plant-based exclusive brand portfolios in the foodservice industry. Many remain sceptical about Blackstone’s claims of sustainability, especially as its CEO Stephen Schwazman donated millions to the Trump administration. But ...

NotCo has hinted that the launch of NotChicken, its plant-based chicken alternative, may not be far away. “Things are coming, and tremendous things,” the brand posted on social media, accompanied by an image of a chicken with a line through it. NotCo first announced it was developing NotChicken after a successful funding round over the summer. Speaking to Bloomberg at the time of the raise, the Chilean company also revealed that plant-based salmon is next on the list. The new launch will mark the latest in a long line of milestones for NotCo. Here, we take a look at some of the company’s biggest successes over the past two years. September 2021: NotMilk launches at Stop & Shop, the largest retailer in the Northeast of the USA. August 2021: The NotBurger becomes available at Burger King in Paraguay and Argentina’s largest fast-food chain Mostaza. July 2021: NotCo secures a huge $235 million in funding from investors including Lewis Hamilton and Roger Federer. The company becomes a unicorn (a company valued at over $1 billion), the first in Chile to achieve this status. June 2021: NotCo wins the Roquette Innovation Challenge at the Future Food-Tech Summit. March 2021: NotCo receives a patent in the US and launches its plant-based mayonnaise, NotMayo. November 2020: NotMilk launches in the US. October 2020: The NotBurger launches for retail in Brazil. September 2020: NotCo raises $85 million in its Series C funding round. February 2020: Papa John’s launches a pizza made with NotMeat in Chile. ...

Kernel Mycofoods, a fungi protein startup based in Buenos Aires, is exploding onto the vegan food scene with the unveiling of ambitious plans for 2022. The artificial intelligence-focused bio food tech company has raised in excess of $15 million and has announced a potential public listing.  Using AI and robotics to optimize the entire manufacturing lifecycle, Kernel Mycofood’s growth plans include strategic partnerships with food producers and expanding its footprint with new manufacturing plants, with a slated production capacity of over 50,000 tonnes per year in five years. The company claims to have already exceeded $250 million in product orders and will start shipping in early 2022.  Investment conglomerate Union Group Ventures has become a substantial stakeholder in the fungi-based startup following the funding round, with a potential public listing in 2022 firmly on the cards. Kernel is the recent winner of the Phase 1 NASA Deep Space Food Challenge and semi-finalist of the ongoing XPRIZE Feed the Next Billion. Fantastic Fungi As sustainability, healthy diets, and cruelty-free production are becoming the norm – and technology develops at a rapid pace – mycoprotein companies are taking an increasingly larger stake in the alt protein sphere. Kernel will expect competition in the emerging sector from other fungi-based food tech companies like ENOUGH and Better Meat Co.  “Biotechnology and AI are beginning to converge, and by harnessing them we will reduce both price and time to market,” commented Lucas Gago, Kernel Mycofoods COO. ...

DUBLIN–(BUSINESS WIRE)–The “North America Vegan Pet Food Market Forecast to 2028 – COVID-19 Impact and Regional Analysis By Product Type (Dry Food, Wet Food, and Others), Pet Type (Dogs and Cats), and Distribution Channel (Supermarkets and Hypermarkets, Specialty Stores, Online Retail, and Others)” report has been added to ResearchAndMarkets.com’s offering. According to the study, the market is expected to reach to US$ 6,485.86 million by 2028 from US$ 3,845.64 million in 2021. The market is estimated to grow at a CAGR of 7.8% from 2021 to 2028. The growing number of pet owners, fostering humanized approach towards pets, and raising pet food fortification are the major factor driving the growth of the vegan pet food market. However, nutrient inadequacy related to vegan pet food hinders the growth of vegan pet food market. The US in North America has the highest number of confirmed cases of COVID-19 among all key countries. This is likely to impact the overall animal feed industry in the region, including vegan pet food. The North American region is a significant contributor to the vegan pet food market. Owing to the rise in COVID-19 cases, various trade shows and conferences – which are a medium to share information related to pet health, product innovations, and trends in relevant markets; and help the companies to realign their strategies – have been postponed or canceled. Cancellations of these events have impacted the growth of the vegan pet food market indirectly. Market Segment Insights North America vegan pet food market ...

Industry-leading compounding and extrusion company Coperion has spoken to vegconomist about its highlights of 2021. Among them is the development of a new food extruder that could simplify the production of plant-based meats. The two techniques most commonly used to produce meat alternatives are texturisation and high moisture extrusion. However, these techniques previously required two different types of machinery. In 2021, Coperion created a new hybrid version of its ZSK Food Extruder, featuring an adaptor solution that allows for easy switching between the two processes. The new food extruder eliminates the need to have two types of equipment. Following this innovation, Coperion won third place at the Stuttgart Innovation Award in November. Meanwhile, the company’s WYK-CIP diverter valve was certified by the USDA for use in food applications in the USA. Growing demand Coperion says demand for plant-based products has remained high in 2021, accounting for a high proportion of the company’s extrusion projects. Interest has now spread beyond the European market to other regions such as Asia, with Coperion reporting an especially positive reception at the Fooma Trade Show in Japan. The pandemic has continued to limit the number of physical events Coperion can attend, but next year the company is looking forward to VeggieWorld in China, Anuga Food Tech in Cologne, and IFFA in Frankfurt. “In the future, we will continue to contribute to the industry by sharing our expertise and years of experience as a machinery and equipment manufacturer,” said John Sheehy, Coperion’s Global Account Manager for ...

Plant-It, an Irish alt protein company, recently debuted at the Plant Based World Expo to an “overwhelming” positive response as it readies to enter the US market.  The company, which offers a wide range of meat-free beef, chicken, and vegetable-based products, identified the US as a top goal for expansion and is currently building a team to help scale distribution. At the Plant Based World Expo — Plant-It’s first international trade show — the company attracted a large number of key buyers and leads impressed by both the products line’s taste and the brand’s Irish heritage, according to a press release.  Incorporated in 2019, Plant-It founder Declan Gallagher was determined to make plant-based foods go mainstream. He was soon joined by Irish food entrepreneur Tadgh Gearyfood and Gallagher’s sister, Noreen Gallagher, who became Plant-It’s CEO following a strong corporate career at McCain Foods, Nike and Glanbia. “I have enjoyed working with global leading brands and look forward to building Plant-It to be a global player in the plant-based category over the coming years,” Noreen stated.   The company’s plant-based products are created using proprietary Texsol ™ technology, inspired by bakery science, which can transform fiber and protein strands from various beans and lentils into useful formulas. Plant-It also says the company owns fully independent R&D and production capabilities.   Embracing reforestation Beyond food, Plant-It is a highly mission-driven company that plants native trees in every country where the brand’s products are sold. Plant-It has so far partnered with multiple organizations to plant ...

Slutty Vegan, the ultra-popular Atlanta burger chain, has opened the company’s fourth location in Duluth, Georgia with several more in the works.  Founded in 2018, Slutty Vegan is renowned for signature loaded burgers and sandwiches that attract spectacularly long lines and countless celebrity fans. Three other Slutty Vegan restaurants are located in metro Atlanta’s Westview, Jonesboro and Edgewood neighborhoods. Propelled by fearless branding and edgy social media marketing, Slutty Vegan quickly grew from beginnings as a mobile food truck into a multi-million-dollar cultural phenomenon. Eager for expansion  According to Nation’s Restaurant News, founder and owner Pinky Cole recently broadened Slutty Vegan ATL’s executive team by hiring MuHammad Yasin as District Manager and Joi Alexander as National Director of Sales & Catering. The latest hires will help Slutty Vegan ATL expand the brand to new locations in Birmingham, Alabama and Athens, Georgia, with more cities to come. Videos posted on Slutty Vegan’s Facebook page show exuberant crowds lining up in pouring rain to celebrate the Duluth location’s grand opening. Fans there will be served the same popular items offered at all Slutty Vegan outlets, including the Fussy Hussy (Impossible meat patty with pickle, vegan cheese, caramelized onions, lettuce, tomato, and Slut Sauce on a vegan Hawaiian bun), the One Night Stand (Impossible patty, vegan bacon, vegan cheese, caramelized onions, lettuce, tomato, and Slut Sauce), and the Big Dawg (Plant-based bratwurst, sauerkraut, and Slut Sauce on a vegan pretzel bun.) In a recent interview with Mashed, Cole spoke about her personal motivations ...

Japanese vegan producer Next Meats looks to be expanding into the emerging Indian plant-based market. A lab and manufacturing unit in India are reported to be in development, while the brand is set to open brick-and-mortar locations in the country. As first reported by Mint, the Tokyo-based Next Meats has entered a partnership with Indian food tech startup Vegan Meat India with a view to launching alt meat products across the subcontinent. Products would be developed to Indian tastes, with Next Tandoori Chicken and Next Chicken Biryani two of the products slated for release. With a growing population of over 1.3 billion people, India is said to be experiencing a “huge paradigm shift” towards plant-based meat alternatives despite the market being at an early stage of development. Cultural norms over meat consumption may prove less of a barrier in a country with such a considerable vegetarian population, an opportunity which Next Meats appears primed to grasp. The move comes as Next Meats looks to expand its retail and production footprint globally. The brand has already established a base in the US market, with Europe and China reported to be next. Next Meats has recently developed plant-based pork, tuna, and milk products, as well as launching a new version of its popular short rib product: the Next Yakiniku Short-Rib 2.0. ...

Oliver Co. has been awarded the PETA Men’s Fashion Award 2021. The London startup produces accessories made from apple leather, a vegan bio-material created with upcycled apple waste from the fruit juice industry. The company recently expanded its product portfolio with the introduction of a new vegan laptop sleeve that accommodates laptop sizes spanning 13 to 16 inches. In addition to its range of wallets and cardholders made from apple leather, the company creates accessories from sustainable wood leather, reducing the kg CO2 emitted into the atmosphere by about 60% compared to a square meter of leather. “To receive this award and be amongst such established brands is a real honour for us. Oliver Co. has only been around for 3 years, and so getting recognition such as this, really motivates us to continue pushing the boundaries of sustainable accessory design.” Matt Oliver, Founder of Oliver Co. “This is just the beginning of our journey and our ambitions for the future are high. With new material innovations being developed each year, and with consumer demand for environmentally conscious products growing, we are excited to continue disrupting a market at such a critical time for our planet.” Online orders can be placed at www.olivercompanylondon.com ...