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March 27, 2024

PoLoPo Unveils ‘SuperAA’ to Turn Potatoes Into Protein Factories Via Molecular Farming

Today, Israel-based startup PoLoPo announced it has deployed its molecular farming technology, a system that uses a genetically engineered potato to produce egg proteins, at greenhouse production scale. The company’s protein production system, which it has dubbed the SuperAA platform, grows proteins within a potato’s tuber, which is then harvested and extracted into protein powder.

Molecular farming, which produces animal protein using seed crops, has gained traction in recent years. The technique, which the Good Food Institute named the “fourth pillar” for alt protein, uses genetic engineering to introduce animal DNA directly into the seeds, transforming the resulting crops into protein factories. Once the genetically engineered seeds are planted, traditional farming management techniques can be employed to grow the crops until they are ready for harvest.

The technique has gained momentum in recent years, partly because of the cost savings it promises to introduce. After all, there is no more efficient way to produce calories for human consumption than by sprouting them from the ground. By transforming plants into small bioreactors, molecular farming companies can take advantage of the scalability and cost-effectiveness of leveraging traditional row crops as protein production engines.

PoLoPo’s founders say that the growing demand for egg-derived ingredients like ovalbumin highlights their system’s potential. Ovalbumin helps a food’s texture and increases shelf life in baked goods and plant-based meat alternatives. However, it has been in short supply in recent years, with avian flu outbreaks roiling egg production and costs surging.

The company will sell the processed protein powders to food manufacturers, who will be able to slot them into existing food production lines. The global ovalbumin-powder market is expected to hit $36 billion by 2032, according to the company. PoLoPo raised $1.75 million in seed funding last year.

March 25, 2024

Podcast: The Story of Mill With Matt Rogers

If you follow the world of kitchen and consumer food tech startups, you know there hasn’t been much in the way of venture-funded startups targeting food waste in the home.

That changed last year when Mill lifted the veil on the company and its first product, the Mill Bin, a smart food recycler. The company’s unique approach included a subscription-based home food waste recycler and an accompanying service that would turn the food grounds into chicken feed. 

We decided to catch up with the company’s CEO, Matt Rogers, to hear about the journey to making Mill. During our conversation, we also talk about:

  • The early lessons in building a tech-powered food recycling appliance and service
  • Why Matt decided to target food waste after building a smart home company in Nest
  • The challenges in getting consumers to think about wasting less food
  • How better data can help us change consumer behavior 
  • The future of food waste reduction technology in the consumer kitchen

You can listen to the full episode below or find it on Apple Podcasts or wherever you listen to podcasts.

You can also watch the video of our conversation on YouTube or below.

A Conversation With Matt Rogers from Mill

If you want to learn more about Mill, you can head to their website or join us at the Smart Kitchen Summit where we will be hearing from company cofounder Harry Tannenbaum. Use discount code podcast for 15% off tickets.

March 20, 2024

Pitchbook: Food Tech Funding Dropped Almost 60% in 2023

The food tech sector navigated rough waters in 2023, as venture capital funding experienced a significant downturn for the second consecutive year. According to Pitchbook’s Q4 2023 report, food tech funding saw a steep drop of 59% in annual VC deal values, plummeting to $9.2 billion from $22.5 billion in 2022. This contraction is in step with an overall deceleration in venture investing due to a combination of macroeconomic challenges and sector-specific headwinds.

Alex Frederick, the report’s author, spoke with The Spoon about some of the factors driving the decline.

“We’re seeing high-interest rates and a closed IPO window continuing to constrain VC activity,” Frederick explains. “Additionally, annual food price inflation, although slowing to 2.2% this year, has cumulatively pushed food prices to record highs for consumers. This presents a significant challenge for innovative startup CPG products attempting to enter the market at a premium.”

According to Frederick, the deceleration is particularly pronounced in specific subsectors of food tech. “The whole e-commerce space, including online grocery and restaurant delivery, is down 67% in terms of dollars in just one year, and 87% since the peak in 2021,” Frederick said. “This major deceleration is largely due to an investor shift from growth to profitability and positive unit economics.”

Investment in technology for restaurants and retail has also faced a sharp decline, dropping 71-72% over the past year and 85% over the past two years. Similarly, the alternative protein space, once the darling of food tech, has seen a deceleration, with investors increasingly focusing on companies that can demonstrate a path to profitability.

I asked Frederick about picks and shovels type of investments, and he said while the numbers don’t necessarily show up in the aggregate funding, he is seeing some increased activity by companies who are building out inputs and production for alternative proteins, including a focus on alternatives to growth serum and building fermentation bioreactor infrastructure.

“There’s just more attention, a growth of stakeholders, and a focus on building out all of the inputs and infrastructure they would need to grow that industry.”

You can see my full interview with Alex below and can download an excerpt of the report on the Pitchbook website.

The Spoon Talks With Pitchbook About Q4 2023 Food Tech Investment Landscape

March 18, 2024

Is The US Power Grid Prepared For The Transition To Induction Cooking?

In case you haven’t heard, electricity demand is shooting through the roof.

After more than two decades of flattened usage due to more efficient lightbulbs, appliances, and factories, the growing adoption of EVs and the explosion in new data centers for compute-intensive applications such as AI over the last few years has resulted in skyrocketing demand for electricity, according to a new report in the New York Times. In fact, forecasters estimate that peak demand in the summer will grow by 38,000 megawatts nationwide in the next five years, which is akin to adding another California to an already overburdened grid.

Above: Electricity Demand Over Time and Forecasted Demand. Source: New York Times

The Times report does a good job highlighting how EVs and higher usage air conditioning in homes are two of the biggest culprits for reversing the trend, but largely omits any discussion of another potential big driver of electricity usage in the future: induction cooking.

And from the looks of it, induction could significantly impact the overall electricity usage of a family home. While it’s more energy efficient in general, a household switching from gas to electric induction cooking will use more electricity. How much? According to some sources, an hour of induction cooking will use between 1.4 kW and 2 kW per day. That compares with about 2.5 kW per day in charging for the typical EV.

So, not quite as much as EV, but still enough to translate to a significant draw on the grid once we’re talking tens of millions of induction stoves. All of which begs the question, will the grid be ready?

It’s something that’s definitely on the mind of some in the appliance world. One appliance executive recently told me that grid readiness is one of the microenvironment variables they are factoring in when evaluating their own induction cooktop strategy. Add to that various local restrictions around gas cooking (and pushback against said restrictions), and the calculation as to how much they push electric appliances gets somewhat nuanced depending on a given market’s grid readiness and regulatory environment.

My own guess is that while we’re finally seeing induction making inroads in the US, the adoption isn’t moving at such a rate that it will make matters significantly worse than other factors, such as EV and data center growth. In fact, it’s because those other reasons have grabbed the attention of those responsible for forecasting and building out our electricity infrastructure that the industry will more than likely be ready for when we hit tens and even hundreds of millions of induction cooktops in homes.

March 16, 2024

The Food Tech News Show: Behold, The Humanoid Kitchen Robot is Here

This week, the Spoon crew got together to discuss some of the big stories of the week on a new weekly video news show we’re launching called The Food Tech News Show.

The stories Carlos Rodela and I discuss include:

  • Keurig Unveils Plastic-Free Coffee Pods, Developed With A Little Help From The Maker of CoffeeB
  • Keurig Takes Another Swing at Cold Beverages With the Launch of QuickChill Cold Coffee Technology
  • Not Surprisingly, Starbucks Is Shutting Down Its NFT Program
  • Watch The Figure 01 Robot Feed A Human, Sort The Dishes, And Stammer Like Us Meatbags
  • Why a Small Startup in the Middle of Valencia May Be Leading the Wireless Energy & Invisible Cooktop Trend
  • Bellwether Debuts Small-Format, Countertop Electric Coffee Roaster for $15 Thousand

You can watch the full show below, on YouTube, or listen to it on the Spoon podcast.

And, if you’d like to watch next week’s Food Tech News Show, join us on March 22nd at 1 Pacific on Streamyard, Twitter, or on our YouTube channel.

Cordless Kitchens? - FTNS

March 15, 2024

Watch The Figure 01 Robot Feed A Human, Sort The Dishes, And Stammer Like Us Meatbags

While much of the startup funding for food-centric robots has been for task-specific fast-automation from the likes of Picnic Robot and Chef Robotics, some of the more intriguing – and creepy – action is happening with humanoid robots.

The latest entry into the “watch a humanoid robot handle kitchen tasks” files is from Figure, which just showed off the latest capabilities of the Figure 01 robot by showing how it can identify food and sort through kitchen tasks.

What really stands out to me is the weirdly human voice of the robot, which includes very human-like pauses and slight stammers. As an example, in one exchange, a human interviewer asks Figure 01 to explain why it handed over an apple. Figure 01 responds with a quick “On it” and then goes on to explain, complete with an “uh” pause that makes you almost think there’s an actor behind the curtain spitting out the lines.

You can watch for yourself below. The exchange I am talking about happens 48 seconds into the video.

Figure Status Update - OpenAI Speech-to-Speech Reasoning

According to Figure, the latest release showcased in the video illustrates how it has put OpenAI’s large language models to work to provide high-level visual and language intelligence, while its neural networks are responsible for powering the almost human-like dexterity of the robot. The company has raised an eye-popping $754 million in funding.

March 15, 2024

Not Surprisingly, Starbucks Is Shutting Down Its NFT Program

Perhaps not all that surprising given the downturn in interest in Web3 and NFTs among big brands, Starbucks announced today that it’s shutting down its Web3 loyalty program Odyssey.

The Odyssey program allowed members to gain benefits through playing games and participating in activities called Journeys. When they completed Journeys, members earned points and received NFTs (called Journey Stamps) that gave them access to exclusive benefits. Members could also purchase limited edition NFTs, which provided them with additional Odyssey points and unique artwork.

According to an FAQ about the program’s transition, Starbucks says they will close the Odyssey beta on March 31, 2024, and users will have until March 25, 2024, to complete any remaining Journeys. The company says it will transition the Odyssey marketplace to the Nifty NFT marketplace, where users can buy, sell, and transfer Odyssey stamps. As part of the move, the company said they are also shutting down the Odyssey discord server on March 18.

The effort was shepherded by the former Starbucks chief digital officer Adam Brotman through his company Forum3. Like many Web3 startups in the past 12 months, Brotman and his cofounder Andy Sacks have made a hard pivot from Web3 to generative AI as their primary focus, with their new tagline being “Where AI Meets Digital Transformation.”

Some crypto sites have asked whether the program will return, and while Starbucks left the door open in its FAQ with a bland stay-tuned message – “While the Starbucks Odyssey Beta program is ending, we are excited for you to see what comes next and are grateful for your consistent engagement and feedback” – my guess is the company likely will de-emphasize things like tradeable NFTs even if it looks to use some form of underlying blockchain architecture in the future.

March 13, 2024

Keurig Unveils Plastic-Free Coffee Pods, Developed With A Little Help From The Maker of CoffeeB

If you can’t beat them, join them.

And if you’re Delica, that’s precisely what the Swiss-based company did. That’s because today, North American single-serve giant Keurig Dr. Pepper announced that they have developed a completely new single-serve coffee form factor, one that does away with the iconic (and environmentally damaging) plastic pod, by partnering up with Delica, maker of the CoffeeB fully compostable single-serve coffee ground form factor.

Longtime readers of The Spoon know that Delica launched the CoffeeB system in 2022, and it has been quickly gaining traction in Switzerland, France, and Germany with its fully compostable coffee pods balls. According to Keurig, they have entered into a long-term partnership with Delica that grants Keurig the exclusive rights to use and build upon Delica’s proprietary technology for consumers across the U.S., Canada, and Mexico.

Keurig's new K-Rounds and Alta Brewer Announcement Video.

Keurig’s new single-serve coffee grounds form factor is called the K-Round, which, like Delica’s, will use a plant-based compostable container. According to Keurig, the K-Round is not only a result of the collaboration with Delica, but also a multi-year research effort by Keurig Dr Pepper’s R&D team. In addition to Delica’s IP, the K-Round utilizes its internal IP to develop a product tailored for the North American market, which includes patents pending for both the brew system and the plastic-free pods.

One primary difference between the CoffeeB system and the new K-Rounds is that the K-Round is essentially a flat puck shape compared to the CoffeeB system’s ball shape. One reason for the different shapes is that they enable Keurig to utilize its BrewID technology, which scans information printed on the top of each K-Round to get information about the specific coffee type and optimize the brew.

“We’ve invented a different shape for them,” Becky Opdyke, senior vice president of Keurig Systems Marketing, told The Spoon. “And that’s because we’re going to be printing some coding on the top that will be read by the brewer so that it makes the coffee type that best matches the K-Round. There will be ones that are specifically sized for espresso versus a long coffee versus a cold brew, for example.”

Of course, the delivery of a new single-serve form factor requires a new coffee brewer, and on that front, Keurig also had plenty of news. Alongside announcing the new K-Round, the company introduced its new Alta coffee brewing system. According to Keurig, the Alta will enable a Keurig brewer to deliver espresso-style coffee extraction for the first time, including the ability to create crema. This new capability is directly tied to the new K-Round, which can withstand up to 250 psi of pressure.

Keurig also announced that the new Alta will be backward compatible with existing pods. While that might initially be a bummer for those who want to see an end to plastic pods, it’s actually critically important since consumers tend to take time to change consumption patterns. By providing a device that bridges generations of pods, Keurig is giving its new system and single-serve form factor its best chance of survival.

A year and a half ago, I asked if CoffeeB stood a chance against Keurig. As it turns out, they didn’t have to fight that battle since they decided to partner with the North American’s single-serve giant. Ultimately, this strategy means consumers (and the earth) will be the winners in the long run with more choices and less waste.

March 13, 2024

Keurig Takes Another Swing at Cold Beverages With the Launch of QuickChill Cold Coffee Technology

Perhaps the third time’s a charm?

That appears to be what Keurig is thinking, given the news of the single-serve coffee giant’s new technology and brewing system that allows it to deliver cold-brewed coffee drinks instantly.

The new system, QuickChill, will use advanced cooling technology to flash-chill fresh-brewed coffee. According to Keurig, QuickChill will chill hot-brewed coffee from a K-Pod in three minutes, pouring coffee into the glass at 60°F. That’s a vast difference between the company’s previous efforts at ice coffee with its K-Iced coffee line, which poured hot-brewed coffee on top of ice. Keurig says that the new technology will result in coffee that comes out of the machine three times colder than coffee brewed by its K-Iced line.

The new technology, which has an internal chilling mechanism that reduces the coffee’s temperature post-brew, will result in less diluted coffee once poured over ice, which, according to Keurig itself, didn’t always lead to coffee shop results.

“Historically, really, what you’re getting is just a hot brew over the top of ice, and it created a less flavorful, watered-down version of the beverage,” said Josh Hulett, Keurig’s SVP of product management, in a video (see below) about the new QuickChill technology.

The new QuickChill technology will be used in a new hot/cold brewing system from Keurig called the K-Brew + Chill brewer. It will be available starting this fall, and pricing has yet to be announced.

QuickChill is Keurig’s third attempt at creating a platform that dispenses cold beverages. Keurig followers might remember the Keurig Kold, an attempt to compete with the Sodastream carbonated beverage appliance. After shuttering that effort, the company partnered with AB In-Bev a couple years later to create a pod-based home cocktail-making appliance with their Drinkworks joint venture. Drinkworks didn’t make it as far as Kold, shutting down soon after a newly announced new product line.

With QuickChill, however, the company looks to be sticking to what it knows: coffee. According to the company, this move attempts to tap into strong interest in cold-brew coffee, particularly among younger coffee drinkers.

“We’re really excited about this innovation launching because it is a breakthrough for us to be able to serve cold coffee to our consumers, especially to our younger consumers and Gen Z, forty-eight percent of whom had a cold coffee this past week,” said Becky Opdyke, Senior VP of Keurig systems marketing, in an interview with The Spoon. “We want to make sure we’re delivering for them at home as well.”

The news of QuickChill was part of a slew of announcements by Keurig today, including the launch of a completely new single-serve delivery form factor and a new-generation brewing system that takes advantage of the new compostable, plastic-free pod.

The Keurig QuickChill and K Brew BREW + CHILL announcement video from Keurig.

March 12, 2024

Announcing The Food AI Co-Lab, a New Collaboration Between The Spoon & Future Food Institute

If there was one thing we learned when we held the first-ever Food AI Summit last October, it is that pretty much every food company believes their business will fundamentally change due to artificial intelligence.

Whether it’s companies building farm equipment, managing food supply chains, launching new grocery shopping formats, or creating new quick-service restaurant chains, no one along the food value chain will remain untouched by the rapid pace of change brought on by AI. In other words, we are in a once-in-a-generational rethink of business as usual, a tectonic shift that demands company leaders continuously learn, strategize, and collaborate to make sure their companies survive and even thrive into the future.

Because of this, we realized that we wanted to find a way to bring together our community and others within the food system to talk about the different impacts AI is having across various parts of the food system more than once a year. While we loved the fact that the big ideas that were shared at the Food AI Summit have already resulted in new partnerships and collaborations, we wondered if we brought together folks more regularly – on a monthly basis or even more frequently – might have an even bigger impact.

Luckily for us, one of my favorite organizations – the Future Food Institute, led by one of the most consequential leaders in the future food space in Sara Roversi – had a similar idea. So when Sara approached me about joining forces for a collaborative new organization to do just that – I jumped at the chance.

So, alongside the FFI, I am super excited to announce today the launch of the Food AI Co-Lab!

What is the Food AI Co-Lab? It’s a collaboration that aims to be a meeting space and learning center for leaders who are building the future of food through artificial intelligence. We will explore different topics, engage with our community, and provide information such as industry surveys about what people are doing at the intersection of food and AI.

To kick things off, we will host monthly industry-focused meetings with thought leaders creating using AI across various parts of the food system. Soon, we will also announce in-person events in the US and Italy where the community can get together, network, learn together, and build their own collaborations.

If you’d like to join us on this journey, we encourage you to join our LinkedIn group and also register for our first virtual event, AI & The Future of Food, which will take place next Tuesday, March 19th. At that event, we’ll interview two thought leaders: Dr. Patrick Story, a professor of Philosophy at Cal Poly, San Luis Obispo, participating in a National Science Foundation-funded project analyzing the impact of automation and AI on the food system, and Kevin Brown, the CEO of Innit, a company building a platform that plugs into generative AI large language models to make them more food “fluent” and power AI-assisted food knowledge systems and services.

I hope to see you there, and I am excited to work with you to learn, collaborate, and build the future with the Food AI Co-Lab!

March 7, 2024

Bellwether Debuts Small-Format, Countertop Electric Coffee Roaster for $15 Thousand

Today Bellwether Coffee announced its latest electric, ventless coffee roasting machine, The Bellwether Shop Roaster. The new roaster, which is the company’s third-generation electric roasting machine, will retail starting at $14,900, about one-quarter of the price of its second-generation roasting appliance.

According to the company, the Shop Roaster will be able to roast 3.3 pounds of coffee in about 15-20 minutes, meaning a throughput of up to 13 pounds of coffee per hour. As part of its new product lineup Bellwether will also offer a continuous roasting upgrade to the Shop Roaster for $5,000 extra ($19,900 for upgrade and the Shop Roaster). The continuous roasting upgrade will enable the auto-loading of green, unroasted beans into the coffee roaster, enabling up to 13 continuous roasts or 44 pounds of coffee before refilling the base with unroasted coffee beans.

We’ve been following Bellwether since the early days here at the Spoon when they were one of the early roasting infrastructure players pushing the industry towards electrification and decentralized roasting. While some of the bigger players in roasting, like Probat, have started to offer electric roasters, Whiel some players like Carbine have gone out of business, Bellwether continues to push the envelope on size and could attract even more coffee shops and retailers to experiment with roasting their own beans.

March 7, 2024

Florida Bill Banning Cultivated Meat On Its Way to DeSantis’ Desk

Selling cultivated meat in Florida is about to become a second-degree misdemeanor.

That’s because this week, the Florida legislature voted to pass a bill restricting the commercial sale of meat grown using cellular agriculture. The bill (SB 1084), which passed with a vote count of 86 Yays to 27 Nays, now heads to the desk of Florida Governor Ron DeSantis to be signed into law. This was just days after the companion bill passed in the Florida Senate on February 29th.

The bill, which bans commercial distribution of cultivated meat but allows for continued research, is backed mainly by the conventional meat industry, which found willing and happy fellow travelers on this legislative journey in the form of culture-warrior politicians like Jacksonville Republican congressman and cattle rancher Dean Black.

“I think they can make it on the Moon and export it on Mars, and it’s fine to have Martian meat as well,” Black said. “If you go to the Moon, if you go to Mars, you should be allowed to get it there. But you sure as heck shouldn’t be able to get it anywhere in this country, and sure as heck not here in Florida.”

Black’s weird Florida-man-ish quote about Martian meat, which sounds like something out of a Carl Hiassen novel, refers to the exception allowed in the bill for continued research on cultivated meat because NASA and others are researching cultivated meat as a method for astronauts on long-term space missions.

The Florida ban, the first in the US, follows a similar ban in Italy passed last year. The Italian ban was championed by a far-right Italian agriculture minister in Francesco Lollobrigida, who said that the move would help protect jobs and Italian consumers from the invasion of what he described as “synthetic” food.

“We are safeguarding our food, our system of nutrition, by maintaining the relationship between food, land and human labour that we have enjoyed for millennia,” Lollobrigida said.

In both cases, the cattle lobby in each country was the driving force pushing for bans.

In the US, the Florida bill is similar to other legislation making its way through state legislatures in Arizona, Tennesee, and West Virginia. All of it concerns an industry that, at least to this point, is commercially non-existent, with the exception of sales at a couple of high-end restaurants.

While the impact is small today, those building these products are worried about the impact of these laws on cultivated meat as the industry matures.

“I’ve got more than enough challenges,” Wild Type CEO Justin Kolbeck said. “I don’t also need Florida to ban it to make the market smaller.”

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