• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar
  • Skip to footer
  • Skip to navigation
Close Ad

The Spoon

Daily news and analysis about the food tech revolution

  • Home
  • Podcasts
  • Events
  • Newsletter
  • Connect
    • Custom Events
    • Slack
    • RSS
    • Send us a Tip
  • Advertise
  • Consulting
  • About
The Spoon
  • Home
  • Podcasts
  • Newsletter
  • Events
  • Advertise
  • About

Foodtech

October 12, 2021

The Spoon & CES Bring Food Tech To The World’s Biggest Tech Show For First Time Ever

Each January for the past couple of decades, I’ve packed up my suitcase and headed to the Nevada desert to take part in the world’s biggest tech show, CES.

I’m not alone. CES is the singular tech show that pretty much every major industry attends along with those who watch and follow those industries.

This includes the food world. Many remember the debut of the Impossible 2.0 burger in 2019, a watershed moment for both the company and the plant-based meat industry. There’s also been food robots, ice cream makers and much more that have made a big splash at the big show.

However, up until this year, any food professionals coming to CES were attending despite the lack of a dedicated food technology and innovation area in the exhibition space or in the conference tracks. Because CES is *the* great convener in the tech world, we felt food tech needed representation. This led The Spoon to rent out the ballroom of Treasure Island for a couple of years running to produce Food Tech Live. We wanted to give the food industry a central place to connect and check out the latest and greatest in food innovation.

But now that’s all about to change as food tech hits the big time this coming January. CES announced in June that food tech is going to be a featured theme for the first time ever at the big show. We couldn’t be more excited, in part because we will get to see even more cool food tech innovation, but also because CES has chosen The Spoon as the dedicated CES partner for the food tech exhibition and conference portions of the show!

We’re busy helping to develop a half-day conference and talking to lots of companies about coming to show their products at the four day CES food tech exhibition and we can’t wait to show what we’ve helped CES build.

But we need your input too! If you are interested in showing off your latest and great food and kitchen-related product or solutions, make sure to let us know. Just head over to this form on the SKS website and drop us a line. We’ll get right back to you and let you know how you can be a part of food tech at CES.

You can read more about the program below with our official announcement, or just drop us a line to see how to get involved.

We’ll see you in Vegas!

Food tech has arrived at CES®. Leaders in kitchen, food and cooking are coming together in Las Vegas from January 5th to January 8th at CES  2022 to examine how technology is changing the global food chain. CES has teamed up with The Spoon, the leading food tech media and events partner to showcase, demo and discuss the way technology has transformed the world of food. 

While we’re sure the excitement and buzz around food tech will be everywhere, we are working with CES on two key initiatives at the show, including: 

  • The Food Tech Exhibit, an exhibit space showcasing the latest innovations and demonstrating new products from across the kitchen and food tech spectrum. This will be live on the CES show floor in the Venetian Expo. 
  • The CES Food Tech Conference, presented by The Spoon, will bring together visionary thinkers, chef entrepreneurs, appliance vendors, delivery and food retail disruptors at CES 2022. Each session will highlight the innovation and disruption happening across the food industry as a result of tech advancements like artificial intelligence, machine learning, automation, mobile accessibility and more. 

CES is fast approaching — and there are many ways to get involved before, during and after the show. The CES Food Tech presented by The Spoon area will focus solely on companies building the future of food and cooking. Booth spaces are diverse in terms of size and ability to customize – get in touch and we’ll work with the CES exhibitor team and our team to ensure you put together a space that serves you. 

If you aren’t able to secure a demo or company/showcase spot but still want your brand to be part of the inaugural year of food tech at CES, you can sponsor the CES Food Tech Conference on Day 2 of CES in the Venetian. Conference tickets for CES programming will be on sale soon. 

October 12, 2021

Here Are All The Food Tech Innovators We’ve Spotted in David Chang’s New Hulu Show

There may be no one with more culinary street cred in America today than David Chang. Not only has the New York-based chef won multiple James Beard awards and seen his restaurant Momofuku called the country’s most important restaurant, but Chang himself is widely recognized as an astute observer of the food world who always has his finger on the pulse of the country’s culinary zeitgeist.

And what’s on Chang’s mind these days is a whole lot of food tech, at least if his new series on Hulu, The Next Thing You Eat, is any indication. While the six-episode series isn’t available until October 21st, we do have the video preview, which features shots of everything from food delivery bots to lab-grown meat to indoor robotic farms, so we thought it would be fun to play a game of ‘guess who’ and see how many people and companies we can recognize from the food tech revolution. Below is a list those we spotted in the video. Watch it yourself and see if you can identify the ones we could identify and help us ID those we couldn’t.

The Next Thing You Eat | Official Trailer | Hulu

Wild Type and its cell-based salmon: Chang talks about how climate issues will impact our food and we soon see Wild Type’s Justin Kolbeck saying, “we’ve come up with salmon without using animals” as Chang and others taste the company’s lab-grown fish.

Upside Foods: As we watch a meatball simmer in a pan, Chang states “we’re going to be eating lab-grown meat.” We then cut to a scene in which he turns to Upside Foods’ VP of product and regulation Eric Schulze and asks, “you could just recreate a geoduck?”. Schulze calmly responds, “you could go even further back and do its ancestor, the dinosaur.”

Serve, the delivery robot: While Chang doesn’t say anything specifically about robotics in the two minute video preview, we do get to see him jump in surprise as Serve Robotics sidewalk delivery bot, rolls up behind him.

Miso Robotics: We see Flippy the robot doing its thing, and then we see Miso’s Buck Jordan saying to Chang, “it can look at a piece of meat, it can know how hot that portion of the grill is. Perfect grilling, every time.” Chang responds that this technology is at least 5-7 years out, to which Jordan replies, “Oh no. We are installing into steakhouses this year.”

Jordan is probably referring to the machine vision technology that pairs with and helps direct Flippy’s robotic arm. While we’re not aware of Flippy currently being used in a steakhouse, it’s not a stretch for a robot that got its start flipping beef patties at Caliburger to move a higher grade of beef.

Impossible Burger: During the course of the video, we see a few shots of juicy alt-meat products, including an Impossible Burger. How do we know it’s an Impossible Burger? Because immediately afterward we have a shot of Danny Preston, owner of Malibu’s Burgers (which serves Impossible products), says, “it’s designed to make the meat eater say…” as Chang bites into a burger and exclaims “Oh God.”

There are a few mysteries in the video such as the children’s cereal as well as a robotic vertical farm, but there’s not enough visual info (for me at least) to confirm the companies behind them. If you can help us identify these or any other food tech innovators we missed, please let us know in the comments.

Either way, the mystery will soon be solved as Chang’s series drops on Hulu on October 21st.

September 20, 2021

A Cuppa Joe Grown in a Lab? That’s Right, Cell-Cultured Coffee Is Now a Reality

Cellular agriculture has given us hope about the future of sustainable meat production, but what about coffee? After all, many of us (this author included) would happily give up that great steak or burger to make sure we get that first cup of coffee in the morning.

Well good news, caffeine addicts: A research lab in Finland announced they have made coffee using cellular agriculture techniques. According to an article today in Phys.org, the VTT Technical Research Centre of Finland “is developing coffee production through plant cells in its laboratory in Finland. In the process, cell cultures floating in bioreactors filled with nutrient medium are used to produce various animal- and plant-based products.”

The process by VTT includes establishing the cell lines in the lab and then transferring the cell cultures to a bioreactor where they produce biomass. Once harvested, the biomass is roasted into something resembling the coffee we purchase from the store.

“In terms of smell and taste, our trained sensory panel and analytical examination found the profile of the brew to bear similarity to ordinary coffee,” said VTT Research Team Leader Dr. Heiko Rischer. “However, coffee making is an art and involves iterative optimization under the supervision of specialists with dedicated equipment. Our work marks the basis for such work.”

While we’ve seen a few startups such as Atomo working on building “molecular” coffee, those approaches use upcycled plant-based ingredients with similar compounds to coffee beans. VTT’s research project is the first example we’ve seen of cellular agriculture techniques used to replicate coffee bean cells in a bioreactor.

Whether it’s cell-ag coffee beans or derived using molecular magic, discovering new approaches to create coffee is urgent given the state of traditional crop farming. Mega-producers like Brazil face severe droughts due to climate change, which has resulted in big jumps in coffee bean prices.

But don’t expect coffee from a bioreactor to show up on store shelves anytime soon. First, researchers must figure out how to scale the process, and regulatory approval would be needed.

You can see the full article on Phys.org here.

August 23, 2021

IndieBio Cofounder Ron Shigeta Launches Virtual Accelerator

Longtime food and biotech investor and entrepreneur Ron Shigeta is rolling out a new virtual accelerator called iAccelerate.tech.

Shigeta established himself as a food tech pioneer as a cofounder of one of the very first future food and ag accelerators in IndieBio, where he helped some of today’s biggest names in future food such as Geltor and Upside Foods (then Memphis Meats) get off the ground. Since that time, Shigeta helped launch plant-based pet food company Wild Earth and more recently has been acting as an independent investor and advisor to various biotech and food tech startups.

From Shigeta’s Linkedin post announcing the move:

It’s a big day! I’m rolling out my advisory work as a virtual accelerator and I’d like to invite my network and their friends to join us!

Building at IndieBio has created a $4B+ portfolio. in the past 2 years TurtleTree, Inner Cosmos, SolarBioTech, Orbillion Bio (YC W21) , BloodQ, Inc, Juicy Marbles, Finless Foods (and some who are not out in public yet) has taken things to a new level for me and the #BioTech Startup world.

With iAccelerate, Shigeta is essentially taking his consultancy and investing work and formalizing it.

“I worked to find what I thought would be a next-generation accelerator structure,” Shigeta told me over Linkedin. “It’s a very small operation – 5-10 companies a year with lots of attention to detail.”

According to Shigeta, his new accelerator will take in 1-2% in equity for each company, a significantly smaller share than a traditional accelerator like TechStars that typically takes roughly 5% of a company.

As part of the launch of iAccelerate, Shigeta is also launching an investor syndicate.

“My latest stage in the evolution is to offer some investments on AngelList,” said Shigeta. “The Syndicate just lets investors elect to take the deals they like and offers the terms that the VC sees.”

While Shigeta has made a name for himself helping biotech-focused startups get up and running, his new accelerator shows he will look beyond the future food space. One of the first companies in the accelerator is Bite Ninja, a startup from Memphis that helps staff quick service drive-thrus with remote workers via telepresence.

“I really like to work with companies who are are just wrestling with an outrageous idea and we work together sometimes for months just to get it together to present and show MVP,” said Shigeta.

August 18, 2021

Apeel Raises $250 Million to Accelerate Its Fight Against Food Waste

Apeel, best known for its shelf-life-extension technology for produce, has raised a $250 million Series E round of funding led by Temasek.

Additional participants include Mirae Asset Global Investments, GIC, Viking Global Investors, Disruptive, Andreessen Horowitz, Tenere Capital, Sweetwater Private Equity, Tao Capital Partners, K3 Ventures, David Barber of Almanac Insights, Michael Ovitz of Creative Artists Agency, Anne Wojcicki of 23andMe, Susan Wojcicki of YouTube, and Katy Perry. The round brings Apeel’s total funding to date to over $635 million, according to a press release sent to The Spoon. 

The company’s food-safe powder coating was developed to cover pieces of produce, such as avocados, and act as a barrier against water and oxygen, which are major contributors to rot. Apeel will use the new funding in part to expand the availability of its coating product to additional parts of the U.S., U.K., and Europe. The company currently works with 40 retailers and 30 suppliers throughout eight different countries.

Earlier this year, Apeel acquired hyperspectral imaging company ImpactVision to add another layer of information about plant ripeness to its process. The advanced imaging technology can essentially look inside each piece of fruit and gather information about maturity, freshness, and phytonutrient content. With this information, suppliers and distributors can decide where each piece of produce can then go. For example, a more mature piece can go to a retailer closer by, so it can reach the store shelf sooner.

Apeel said today it will also use the new funds to advance such data and imaging capabilities and integrate those capabilities deeper into its system. The company suggested there could be more acquisitions in this area in the future. 

In the U.S. alone, 35 percent of all food produced goes to waste, equalling about $408 billion annually and 4 percent of all U.S. greenhouse gases. At the same time, more than 40 million Americans are considered food insecure. Recent data from Project Drawdown found reducing food waste to be first of 76 solutions meant to reverse climate change, ahead of plant-based diets and utility-scale solar projects. 

Apeel’s edible coating is one method of fighting food waste. Others include Hazel Technology’s sachet that extends produce shelf life and Ryp Labs (née StixFresh), which makes a sticker that does much the same thing.

“Suppliers have a clock that’s ticking,” Apeel CEO James Rogers explained last year at a Spoon event. At the end of the day, he said, “we have to make the most environmentally beneficially solution the cheapest, easiest solution.”

August 16, 2021

Red Sea Farms Raises an Additional $6M to Grow Crops With Saltwater

Saudi Arabia’s Red Sea Farms has raised an additional $6 million in pre-Series A funding, bringing the total round to $16 million (h/t Wamda). Those leading the round include Aramco’s venture arm Wa’ed, the Saudi government-owned Future Investment Initiative (FII) Institute, KAUST, Global Ventures, AppHarvest, and Bonaventure. The $6 million announced over the weekend follows an initial $10 million investment the company unveiled in June of this year.

Red Sea Farms, which is based out of King Abdullah University for Science & Technology (KAUST) in Saudi Arabia, is developing a grow system for crops that relies primarily on saltwater as the primary irrigation input. As company cofounder and CSO Prof. Mark Tester told The Spoon recently, the system works on both crops grown traditionally via land and those grown indoors using hydroponics. The idea is to provide more resource options for farmers in parts of the world where freshwater is less abundant. The company’s technology can use saltwater for evaporative cooling in greenhouses, which could potentially cut a facility’s carbon footprint.

Red Sea Farms currently has three grow sites, all in Saudi Arabia. The pre-Series A round of funding will help the company expand its operations in Saudi Arabia and other parts of the Middle East, as well as explore opportunities in the U.S. “where growing conditions are harsh.”

A number of companies have announced crop innovations for the Middle East region this year, including iFarm’s partnership with Sadarah Partners in Qatar and AeroFarms’ developing a R&D hub in the UAE. Also in 2021, Estonian automated gardening company Natufia announced its relocation to Saudi Arabia. Most of these developments are in response to a rising urgency around global food security coupled with a need to reduce the planet’s over-reliance on traditional agriculture resources (e.g., freshwater, land).

Red Sea Farms says it can cut freshwater consumption of farming operations by by 85 to 90 percent through its grow system.

August 10, 2021

Shiok Meats Acquires Gaia Foods, Will Add Beef to Its Cultured Meat Lineup

Shiok Meats, a company best known for its developments in cultured seafood, has acquired a 90 percent steak in Gaia Foods, according to Tech in Asia, which broke the news. Financial terms of the deal were not disclosed.

Through the deal, Singapore’s Shiok Meats will add “a variety of red meat products” to its roster, since the company will be able to draw on Gaia Foods expertise in developing cultured beef. Gaia, also based in Singapore is also developing cultured pork and mutton.

Both companies are targeting markets in Asia, including Singapore, Malaysia, Indonesia, China, Japan, Taiwan, India, and South Korea. Shiok Meats hopes to blend cultured beef and shrimp in order to create a product that can be used in a variety of dishes, from dumplings and noodles to spring rolls.

Shiok raised an undisclosed round of bridge funding last month that will go towards building out a production facility in Singapore. The company said at the time of the funding that it plans to launch commercially in that market by 2023 at the latest. Speaking to Tech in Asia today, company CEO Sandhya Sriram said Shiok Meats is ready to “power through to commercialization.”

Singapore is currently the only country in the world that has granted regulatory approval to sell cultured meat, and to just one company, Eat Just. Gaining its own approval — in Singapore and elsewhere — will be a major next step for Shiok on its path to commercialization. 

Beyond regulatory approval, Shiok Meats and every other company developing cultivated meat has a host of challenges to contend with before consumers can buy their products en masse at restaurants and grocery stores. Those challenges span everything from making cell lines more available to finding cheaper, less ethically hazy growth mediums, and educating the average consumer about what cultured meat actually is and why we need to consider it as a protein source in the first place.  

Gaia founders Vinayaka Srinivas and Hung Nguyen will lead the Shiok Meats technical team’s development process for cultured red meat products for the company moving forward. Meanwhile, Sriram told Tech in Asia that deals like this one will become “priorities” in the near-term future for the company.

August 9, 2021

AeroFarms Partners With Nokia to Build Out Drone Control and Other Indoor Ag Tech

Vertical farming company AeroFarms announced today an official partnership with Nokia Bell Labs to further develop the technology capabilities of its industrial-scale indoor ag operation. 

Currently, New Jersey-based AeroFarms uses a proprietary system that combines machine vision and machine learning technologies with the company’s agSTACK software, custom lighting, and aeroponics. The goal is to create an indoor farming environment where temperature, humidity levels, and other environmental factors are fully controlled, and where automation can take over some of the tasks around the farm.

According to today’s press release,  Nokia Bell Labs, which is the research arm of Nokia, will contribute its autonomous drone control and orchestration systems to the partnership as well as imaging and sensor tech and new AI capabilities.

These drones fly over the crops and autonomously image each plant to collect more data on overall plant health. AeroFarms CTO Roger Buelow said in a statement today that scientists and engineers have been working for two years to train these systems in plant biology.

From the press release:

“Nokia Bell Labs’ machine vision technology has enabled the most precise data capture yet, down to the level of individual plants, using leaf size segmentation, quantification, and pixel-based scanning to identify consistency and variation. Going beyond what even the human eye can perceive, this state-of-the art imaging technology enables the gathering of immense insights about a plant including its leaf size, stem length, coloration, curvature, spotting, and tearing.“

The end goal of all of this is to improve plant quality, nutritional profile, and taste, as well as crop yield.

To what extent drone imaging can help with that remains to be seen. So far, few indoor ag companies employ drones for any tasks on the farm, Finland’s iFarm being a notable exception. Earlier this year, the company announced a partnership with Sadarah Partners to build an indoor farm in Qatar that will include drone tech. 

AeroFarms and Nokia have worked together since 2020, testing the technologies with some of AeroFarms’ crops. As of today, the tech capabilities are “ready to scale” to all of AeroFarms’ crops as well as to the company’s forthcoming farms in Danville, Virginia and the Abu Dhabi in United Arab Emirates. 

 

August 4, 2021

Plant-based Cheesemaker Miyoko’s Creamery Raises $52M Series C

Miyoko’s Creamery, which makes plant-based cheese and butter, announced today that it has raised $52 million in Series C funding. PowerPlant Partners led the round, putting in $40 million, with participation from Cult Capital, Obvious Ventures, Stray Dog and CPT Capital.

Miyoko’s makes a range of vegan dairy products including cultured butter, mozzarella, cheese slices, artisanal cheese wheels and cheese spreads made from fermented plant-milks. The company’s products are currently available in 30,000 stores across the U.S., Canada, South Africa, Hong Kong and Singapore. With its new funding, Miyoko’s said it will advance both its distribution and product innovation to get “higher nutrient density, performance and flavor.”

According to the Good Food Institute (GFI), the plant-based butter category grew 36 percent from 2019 to 2020 and the category is now worth $275 million in the U.S. GFI data also shows the market for plant-based cheese is even greater with sales of those products growing 42 percent from 2019 to 2020 to make that category worth $270 million.

And where there are growing sales, there are also startups creating products to sell. Miyoko’s is among a rising co-hort of companies offering new and improved plant-based cheeses. Nobell Foods just came out of stealth mode a couple weeks back and announced it has raised $75 million. Stockeld Dreamery launched its first feta-like plant-based cheese in Sweden in May. And Grounded Foods‘ vegan cheese sauce and spread is available for purchase as well.

In its funding announcement today, Miyoko’s said that this year it will launch a liquid pizza mozzarella that pours out like sauce and bakes up into stretchy cheese. The company is also working on a reformulation of its Medium Cheddar and Pepper Jack cheeses.

Spoon founder Mike Wolf sat down with Miyoko’s Creamery Founder, Miyoko Schinner a few months back to talk about her fascinating backstory, which includes run-ins with both the Japanese mafia and a legal battle with the state of California.

July 29, 2021

NovoNutrients Raises $4.7M to Complete Its Pilot Program for Alt-Protein Made from CO2 Inputs

NovoNutrients, a company that creates protein from CO2 inputs, today announced a $4.7 million fundraise to complete its industrial pilot program that will capture CO2 emissions from from oil, gas, and cement-related plants.

The round was led by Happiness Capital, a Hong Kong-based venture firm that has previously invested in Redefine Meat, Ynsect, and Beyond Meat. E2JDJ and Marinya Capital also joined the round, which included re-ups from SOSV’s IndieBio and the Grantham Environmental Trust. Other investors include Stanford Graduate School of Business Impact Fund, Purple Orange Ventures, and Joyance Partners.

NovoNutrients feeds the CO2 inputs it collects to naturally occurring microbes via a fermentation process. The resulting proteins have a variety of uses, including as ingredients in meat analogues as well as animal feeds. NovoNutrients says its protein can improve the amino acid profile of food products.

That nutrition element will work in NovoNutrients favor as it continues to develop its air protein and looks to scale production. At the recent IFT FIRST event, panelists suggested that while a lot of the focus in meat analogues right now is on taste and texture, the nutritional profile of proteins will become more important to consumers moving forward.  

Actually getting a product to consumers is still a ways off for NovoNutrients, however. For the time being, the company is focused on showing its fermentation tech can work at scale. The company will co-locate its bioreactors (aka fermentation tanks) at industrial sites that produce high levels of greenhouse gases. 

The pilot project is focused on a 1,000-liter bioreactor. NovoNutrients says it will stand up a 20,000-liter industrial demo in the near future. 

NovoNutrients is one of a few companies now developing novel protein from CO2, hydrogen, and other air inputs. Others include Air Protein, Solar Foods, and Deep Branch. Last year, the European Space Agency started working with Solar Foods to develop the technology for use in space to feed astronauts.

NovoNutrients said today that its pilot project will allow the company to start raising Series A funding later this year.  

July 28, 2021

Forget Plants. Alt-Meat Needs More Mycoprotein

This is the web version of our newsletter. Sign up today to get updates on the rapidly changing nature of the food tech industry.

Of the three pillars of alternative protein, plant-based is getting the most mainstream attention and cultivated meat is the currernt darling of VC investors. But fermentation may be the most practical in terms of both cost and scalability, and one area of that segment turning heads of late is mycoprotein. 

From an affordability and nutritional point of view, mycoprotein has a boatload of advantages over other forms of alternative protein — a point underscored this week when The Spoon’s Chris Albrecht profiled a company called Kernel Mycofoods. In their own words, the folks behind the Buenos Aires, Argentina-based company are currently on a mission to “make a product that [is] comparable without a price that will exclude the emerging markets.”

But Kernel isn’t the only company hoping to bring mycoprotein to the forefront, which makes now a good time to take a closer look into what this segment of fermentation is and why it matters to alternative protein.

Mycoprotein is a single-cell protein made from a naturally occurring filamentous fungus called fusarium venenatum. To get mycoprotein, fungi spores are fermented alongside glucose in fermentation tanks in a process similar to that of brewing beer. The entire operation produces a pasty, doughy texture that resembles a chicken breast. 

Up to now, the most well-known application of mycoprotein is as the main ingredient of Quorn’s meat analogues. But as noted above, several other companies are now getting recognition for their use of mycoprotein as an alternative to traditional meat. That list includes Kernel Mycofoods as well as Better Meat Co., which opened its production facility last month, and food giant Unilever. The latter is producing a mycoprotein called Abunda through a partnership with Scottish company Enough. 

Experts say mycoprotein is high in fiber, low in sodium, has an inherently meaty texture, and is rich in amino acids. Kernel, for example, says its mycoprotein has a higher protein digestibility-corrected amino acid score than beef, soy, or wheat gluten.

Mycoprotein falls into the “biomass fermentation” category, as opposed to traditional or precision fermentation (though the lines between all three can be blurred). Because of this, its biggest advantage compared to other forms of alt-protein is its ability to scale at a lower price point. The Good Food Institute noted in its 2020 State of the Industry report on fermentation that biomass fermentation offers “well-established examples of scalability and cost reduction suitable for alternative protein applications.” 

Mycoprotein specifically has a number of other advantages. 

Versatility is a big one. Mycoprotein can be used on its own, as Quorn does with it, or it can be blended with traditional meat to enhance the latter’s flavor and nutritional profile. For example, it could reduce the amount of cholesterol found in a traditional burger patty.

Mycoprotein also already has an established track record, having been approved for use in food products in the early 1980s. That point alone suggests companies won’t face the same types of regulatory hurdles they do with, say, cultured meat. 

And as an alternative to plant-based meat analogues like those of Beyond and Impossible, mycoprotein is a potentially much more eco-friendly operation since it doesn’t require land to grow plants or significant amounts of downstream processing to get the meaty texture consumers want.

Of all these things, though, nutrition might just be the main driver behind mycoprotein. Citing panelists at the recent IFT FIRST event, Food Navigator recently reported that “consumers increasingly want products that are nutritionally comparable to or better for them than animal protein – something the current industry is not fully delivering.” The “current industry” in this case are plant-based analogues from the likes of Beyond and Impossible, companies that talk at length about elements like texture and mouthfeel but very little about their products nutritional profiles. Nutrition will, according to IFT FIRST panelists, be the “disrupting” factor in the near term when it comes to alternative proteins.

All of those factors mean mycoprotein could well become the breakout star of the alt-protein sector by the end of the year.

More Headlines

Plant-Based Cheese Company Nobell Foods Raises $75M – The company will use the new funds to commercialize its first plant-based cheese products, including mozzarella, which the company makes from soybeans that are genetically edited to produce casein. 

Bezos-Backed NotCo Raises $235M for Plant-Based Alternatives – This new capital will allow NotCo to expand into new product categories in North America and scale its proprietary A.I. platform. 

Redefine Meat Launches 5 “New Meat” Plant-Based Proteins in Israel – Plant-based meat company Redefine Meat announced five new products are now available at select Israeli restaurants and hotels. 

 

 

July 27, 2021

AppHarvest Gets $91M in New Financing for Its High-Tech Indoor Farms

AppHarvest this week announced a $91 million financing arrangement with Equillibrium Capital, according to Food Navigator, who broke the news. The money will go towards AppHarvest’s previously stated goal of building out 12 high-tech indoor farming facilities by 2025.

Equilibrium Capital’s $91 million figure is a construction loan that will support the building of AppHarvest’s forthcoming 60-acre facility in Richmond, Kentucky. The Richmond location is almost identical to the company’s 60-acre high-tech greenhouse in Morehead, Kentucky, which is already operational and shipping different varieties of tomato to grocery retailers within a day’s drive. 

Three more farms in Kentucky are already under construction, too: two 15-acre facilities that will grow leafy greens in Berea and Morehead, respectively, and a 30-acre facility in Somerset for growing strawberries. 

The farms use or will use a mix of hydroponics, sensors, supplemental LED lighting, automation and AI as well as natural inputs like sunlight and rainwater to grow produce. AppHarvest is also adding more technology to its operations. It acquired harvesting robot startup Root AI in April of this year for $60 million, and CTO Josh Lessing (formerly the CEO of Root AI) has said AppHarvest is investing in robotics, artificial intelligence, teleoperation, and proprietary seed genetics. Its intelligent robot, Virgo, for example, is currently learning to manage crops and make decisions about growing decisions. All that tech, of course, means more data that has the potential to improve growing processes, crop yield, and food quality.

AppHarvest went public earlier this year via a SPAC merger with Novus Capital Corp for $475 million.

Previous
Next

Primary Sidebar

Footer

  • About
  • Sponsor the Spoon
  • The Spoon Events
  • Spoon Plus

© 2016–2025 The Spoon. All rights reserved.

  • Facebook
  • Instagram
  • LinkedIn
  • RSS
  • Twitter
  • YouTube
 

Loading Comments...