Proterra Asia expands presence in dairy sector with new investments in yogurt and oat milk businesses

ASIA – Proterra Investment Partners Asia has expanded its presence in Asia’s dairy sector by investing undisclosed amounts into the high-growth oat milk and yogurt segments. The private equity’s first investment was made into Simple Love (also known as Jian Ai), a fast-growing fresh yogurt brand in China, focusing on the premium low-temperature segment. Simple Love has grown to 2 percent market share (6th largest) in China, with sales growing at a compound annual growth rate of 109 percent over the past five years based on the company’s sales data.…

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Food tech startup Atomo develops technology to brew coffeeless coffee

US – Atomo Coffee Inc., a US based food startup is has developed a technology that makes it possible to make coffee without coffee beans. Atomo’s coffeeless coffee is made from upcycled ingredients, e.g. sunflower seed husks and watermelon seeds, which undergo a patented chemical process to yield molecules that mimic the flavor and mouthfeel of the real thing. The company says that the resulting grounds are brewed just like a regular cup of coffee. And yes, it has caffeine. The startup which is comprised of a team of food…

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Kind launches plant based ice creams as Ferrara revamps fruit snacks portfolio

US –  Kind Healthy Snacks, a better-for-you snack company owned by Mars Incoporated,  is entering the ice cream aisle with new plant-based Kind Frozen Pints. The non-dairy frozen desserts contain 4 to 6 grams of protein per serving and feature a base of pear juice, tapioca starch and/or syrup, coconut oil, sea salt, sugar, water, gum acacia, sea salt, soy lecithin, tara gum, guar gum and carob bean gum. The recently launched treats come in seven flavors: dark chocolate almond sea salt, dark chocolate peanut butter, cherry cashew, coffee hazelnut,…

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Eat Just secures funding to accelerate research and development of its cultured chicken product

US – Alternative protein company, Eat Just has raised US$170 million in funding for the expansion of its Good Meat cultivated meat division, as it prepares for market entry in the US. Eat Just plans to use its latest funding to increase capacity and accelerate research and development of its Good Meat cultured chicken product. The company is particularly focused on investing the funds in quickly scaling production in North America and Asia through multi-million-dollar investments in the US and Singapore. A world leader in alternative proteins Eat Just has…

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Memphis Meats rebrands as Upside Foods as plans to commercialize cell-based chicken go into high gear

US – Cultivated meat, poultry and seafood pioneer Memphis Meats is rebranding as Upside Foods to usher in the next step in the company’s ambition of becoming the leader in the production of resource efficient meat. “Our team introduced the world to cultured meat, and the evolution to Upside Foods communicates our passion and potential to make our favorite foods healthier for the planet,” says Uma Valeti, CEO and founder of Upside Foods. Upside Foods’ has also announced that its novel cell-based chicken product will be commercially available this year,…

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Alternative protein companies Oatly, Benson Hill initiate plans to go public

US – Oatly and Benson Hill, two prominent alternative protein companies, have kickstarted the processes of going public in a bid to raise more equity to fund future growth prospects. Vegan milk firm Oatly said in a statement that it has commenced an initial public offering of 84,376,000 American Depositary Shares (ADSs), each representing one ordinary share offered by Oatly and certain selling shareholders. According to a report by Food Ingredients First, the company which is backed by high-profile investors including Oprah Winfrey, Jay Z, and Starbucks head Howard Schultz…

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Chinese Institute of Food Science and Technology releases a group standard for Plant-based Food

CHINA – The Chinese Institute of Food Science and Technology (CIFST)has released a draft group standard for the Plant-based food sector. The new standard provides definitions, technical requirements, and guidelines on the labeling, packaging, transportation, and storage of plantbased meat alternative products. It defines plant-based foods as those produced through certain techniques using plant-derived raw materials (including algae and fungi) or their processed products as the sources of protein and fat, adding or not adding other ingredients. According to CIFST, such foods have one or more characteristics including shape, flavor,…

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Firmenich opens R&D hub in Singapore to meet demand for plant-based foods in Asia

SINGAPORE – Singapore’s thriving alternative protein ecosystem has attracted yet another food and ingredients company seeking to have a share of the rapidly expanding plant-based food sector in Asia. The latest company is Flavour and fragrance company Firmenich which has opened a new SmartProteins innovation hub to meet the rising demand for plant-based proteins in Asia. The research and development (R&D) hub will join a rising number of such research hubs including the recently opened Givaudan, Buhler joint Protein innovation center and ADM’s Biopolis research hub. Known as the Culinary…

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Nestlé launches Wunda, new plant-based milk that performs just like milk in all applications

EUROPE- Nestlé has announced that it is launching Wunda, a new pea-based beverage that is ‘epic in everything that you would otherwise use milk for. According to a statement from the company, you can drink the new drink straight from the packaging, pour over cereal, use in hot beverages, froth it, cook with it and much more. The Wunda range is made from yellow peas which provide high-quality protein and are sourced in France and Belgium. The drinks are high in fiber, low in sugar and fat, enriched with calcium and…

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After excelling in plant-based beef, Beyond Meat now eyes the plant-based chicken market

US – Beyond Meat has announced plans to launch a chicken alternative this summer, more than a year after it pulled its frozen chicken-strips from shelves. The chicken strips were the first plant-based meat alternatives that the company first produced when it entered the market back in 2012. The company however decided to stop their production because they “weren’t delivering the same plant-based meat experience as some of our more popular products, like the Beyond Burger and Beyond Sausage.” But as a public company looking for growth, expanding beyond beef…

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