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Last week's format had more clicks - sticking with it this week. Don't forget to forward to someone and if this was forwarded to you, subscribe at agtech.email.
I did want to dive into the first story this week. Beyond Meat is planning for a $183M IPO. As the plant-based meat alternative is scheduled to go public, Tyson Foods sold its 6.52% of the company turning a $34M investment into what could be a lucrative exit for them with the latest valuation of $1.21B. Some points from this story stand out - beyond the timing.
1. Beyond Meat lost nearly $29.9M last year on net revenue of $87.9M
2. According to Nielsen data, supermarket sales of meat alternatives jumped 19.2% to $878M last year
3. Allied Market Research predicts the meat substitutes market to reach $5.2B in 2020
4. According to the Axios report, Tyson wanted to acquire Beyond Meat
5. Tyson is working on their own alternative protein product set to hit shelves this summer.
Thanks!
🙌 Andy Brudtkuhl
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🥩 Why did Tyson divest its 6.52% share in Beyond Meat?
Tyson Foods sold its 6.52% share in Beyond Meat to undisclosed buyers for an undisclosed sum, Axios reported Wednesday. The company's move comes the week before the California-based maker of plant-based meat alternatives is scheduled to go public.
🐂 Walmart to Develop Its Own Supply Chain for Angus Beef
Walmart is testing a new strategy for its beef purchases by developing its own supply chain for Angus beef products, a move the company says will give customers more visibility into where their food comes from.
🥘 Meal Kits Have A Smaller Carbon Footprint Than Grocery Shopping, Study Says
Meal kit delivery services like Blue Apron or HelloFresh promise gourmet meals without the hassle of shopping for ingredients. But the environmentally conscious consumer may feel guilty about seeing all the plastic and cardboard it takes to bring that Pork and Veggie Bibimbap to their doorstep.
🧬 CRISPR Co-Inventor: We’ll Be Eating Gene-Edited Food In Five Years
Jennifer Doudna, one of the co-inventors of CRISPR, thinks she knows which application for the powerful gene-editing tool will be the first to affect the mainstream — and it has nothing to do with curing diseases or creating designer babies.
📡 How IoT is being used for Australian agriculture in 2019
The development of IoT for agriculture is still in its early stages, but it looks promising as more farmers are putting these technologies to work. Australian agriculture has historically been defined by long droughts and irregular rainfall.
🚰 Water Innovation Prize goes to startups targeting methane and wastewater
A startup with a cheap technology for purifying textile wastewater and another with a system to help reduce methane emissions from cattle were named co-winners of the MIT Water Innovation Prize on Thursday.
🤖 Walmart unveils an AI-powered store of the future, now open to the public
Walmart this morning unveiled a new “store of the future” and test grounds for emerging technologies, including AI-enabled cameras and interactive displays.
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