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🤝🏼 NEWS BITE FROM OUR SPONSOR
Brinc and CO2CRC announced a strategic collaboration to offer direct air capture companies the opportunity to access a globally unique test center to validate their technology in Brinc’s inaugural Climate Tech accelerator program. ➡️ Learn more.
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Image by Jimi Biotech
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✅ Chinese cultivated meat company Jimi Biotech closed an angel funding round with ¥20 million ($3 million USD). The round was led by Plum Ventures and Fanqie Capital with participation from Green Leaf Ventures and Joyvio Capital.
TAKEAWAY: The last year has seen Jimi Biotech develop a serum-free and animal-component-free culture media for cultivated meat, reduce its media costs by 20 times and implement a media recycling system that sees microorganisms replace expensive media components and use waste media as their culture.
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✅ Canada’s No Meat Factory raised $42 million Series B funding to accelerate its plant-based meat production footprint across North America and globally.
TAKEAWAY: No Meat Factory says part of the funding will also support its expansion into new territories, namely food service.
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✅ German startup Project Eaden secured an additional €2.1 million seed funding, bringing its total to €10.1 million, for its novel fibre technology used to create plant-based steak.
TAKEAWAY: Project Eaden’s tech is similar to fiber spinning for synthetic fiber use across other industries including textiles, aerospace, and automotive. It says it’s using the same technology for meat — noting that it’s highly scalable and affordable.
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Image by OMNIFoods
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🛒 PRODUCT INNOVATION & LAUNCHES 🛒
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✅ China, Korea, India, Indonesia, and Thailand were all victorious in the 2022 ProVeg Food Innovation Challenge APAC, the first year that it included all Asia Pacific regions.
TAKEAWAY: Students from China’s Shanghai Ocean University and Hainan University won top prize for its plant-based pork floss designed for infants, which is fortified with vitamins A and D.
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Image by Ethos ESG
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📈 CONSUMER TRENDS & NEWS HIGHLIGHTS 📈
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✅ The VegTech plant-based Innovation & Climate ETF, EATV, is now certified carbon neutral, a feat it achieved without buying offsets, but instead by avoiding animal products in food and materials supply systems.
TAKEAWAY: EATV’s aggregate carbon avoidance potential was deemed greater than its estimated footprint, making an investment in the fund equal to a net reduction in carbon.
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"The investments made by EATV are actually helping to solve the problem – i.e., avoiding creating emissions – rather than using the Band-Aid of offsets.”
EATV
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Green Queen's founder and editor-in-chief Sonalie Figueiras shares her views on why the future of alt protein is in Asia with AgFunder News.
💡The monochrome, broad-stroke paintbrush used by the media to generate polarizing headlines about alternative protein is lazy, irresponsible and limited. More than ever, we need geographically wider, more diverse, and more inclusive content voices as we fight an ever-worsening climate crisis and an insatiable demand for animal protein.
Read the rest of the article here.
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Image courtesy of The Manc
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⚡ QUICK BITES ⚡
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A new report by market research firm Research and Markets predicts that the global vegan food industry will reach $91.9 billion by 2027, a CAGR of 18.1%.
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One of the UK’s fastest growing vegan pet food brands, Omni, is launching a crowdfunding campaign on Seedrs to help accelerate its future growth, having seen 30% average month-on-month revenue growth since launching in May 2021.
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Chicago’s Aqua Cultured Foods has acquired a new space in the city’s West Loop area to build its manufacturing facility and scale production of its seafood alternatives.
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US-based cultivated meat startup New Age Eats (formerly New Age Meats) is letting go of an almost-complete pilot facility in California, stating that “plans change”.
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Oatly is selling some of its manufacturing capacity in Ogden, Utah and Fort Worth, Texas to contract manufacturer Ya YA Foods Corporation for $98.1 million.
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FrieslandCampina Ingredients and biotechnology company Triplebar Bio Inc. have entered a partnership to develop and scale the production of cell-based proteins that support human health and nutrition using precision fermentation.
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The first edition of the Colombia Foodtech Acceleration Program, organised by Vertical-I and Eatable Adventures to boost Latin American food tech startups, has kicked off.
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Hong Kong’s plant-based gourmet brand, Plant Sifu™, is partnering with QSR chain Fairwood to offer its “Tasty and Green” Plant Sifu™ plant-based pork SLICE series.
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Sweden’s Stockeld Dreamery has partnered with Ground Support in New York to bring its plant-based Cream Cheese to the bagel capital of the world.
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Civitas Metropolitano, home to football team Atlético de Madrid, has become the first plant-based stadium in mainland Europe, launching a 100% vegan menu in partnership with Spanish startup Better Balance.
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British plant-based startup SHICKEN has launched three authentic Pan-Asian fakeaway products into Tesco stores nationwide for Veganuary.
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7-Eleven Canada launched its first-ever plant-based breakfast sandwich, featuring Impossible™ Sausage, JUST Egg™, and Violife® Cheddar, into 550 of its stores nationwide.
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Quorn has released Big Bag Value Packs of some of its most popular products, to provide a cheaper alternative to its current frozen range and help consumers enjoy a meat-free meal without worrying about budgeting.
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Califia Farms is expanding its line of dairy-free products with USDA Certified Organic Oatmilk and Almondmilk.
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Heinz has launched a new range of nuggets filled with baked beans and vegetables, now stocked in supermarkets across the UK.
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The Simple Root unveiled its range of “naturally creamy” plant-based cheese alternatives for the UK market, made from potatoes and root vegetables.
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UK train company LNER announced a new onboard menu, including a host of vegan options for Veganuary.
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Microsoft co-founder turned billionaire philanthropist Bill Gates said in a Reddit forum he is hopeful that fake meat products will eventually be a "very good" option for consumers even though the share of products in the "meat" market is small.
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Target Corporation announced an ongoing partnership with actress, author, vegan chef and social media phenomenon Tabitha Brown.
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Leading consumer intelligence company Talkwalker has joined forces with the Good Food Institute Asia Pacific and the National University of Singapore Business School to run student research projects on the plant-based consumer category in Singapore.
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The 3rd Fermentation-Enabled Alternative Proteins Summit will take place in San Francisco January 31st - February 2nd to explore key challenges and opportunities in the successful commercialisation of fermentation-enabled alternative proteins for human consumption. Get more info here.
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- 🌟 The AgFunder GROW Impact Accelerator is calling for applications for its fourth cohort of agrifoodtech innovators. Access $100,000 cash investment plus acceleration support. Find out more here.
- 🔮 ICYMI: Check out Green Queen's Sonalie Figueiras crystal ball takes for the alt protein industry in 2023. She's usually pretty on the money, so definitely worth a read.
- 🔈 Don't miss the 2023 Plant Futures Symposium, “Paving Plant-Based Pathways: Empowering the Next Generation of Food System Leaders”, taking place January 28th & 29th. Marion Nestle is giving the keynote address, so get your tickets here.
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The world's food systems are undergoing a revolution- we've got close to 8 billion people to feed and alternative protein may just be the answer. From cellular agriculture to plant-based food tech to precision fermentation, we need to reform our global food production. The Green Queen Alt Protein Weekly newsletter is here to highlight the latest news, trends and insights for all members of the future food ecosystem.
Today's edition was brought to you by Nicola and Brinc, a venture capital and accelerator firm that empowers game changers to help solve some of the world's biggest challenges. |
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