Happy weekend, and welcome to the Food Tech News round-up this week. This week we have news on JOI’s new compostable packaging, Sunbasket’s single-serving prepared meals, and a vegan fast-food company that’s gone public.
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JOI launches zero waste oat milk
JOI produces nut paste concentrates that can be blended at home to make fresh plant-based milk, and the company just released a new product, an oat powder concentrate in fully compostable packaging. The powder contains only one ingredient, oats, and the 12 oz container produces a gallon of oat milk when blended with water. Once used, the packaging can be composted at home or at a commercial composting center. Many other plant-based milk packagings cannot be recycled, nor composted, According to the company, this is the first fully compostable plant-based milk product on the market.
Sunbasket launches single-serving prepared meals
Sunbasket, a subscription-based meal delivery service, just released single portion sizes of its Fresh & Ready prepared meals. The Fresh & Ready meals do not require any prep like the company’s meal kits, and can be heated up in a microwave or oven within a few minutes. The prepared meals are delivered fresh, not frozen, and start at $8.99. Starting April 25th, the single portion meals will be available for purchase on the company’s website. Throughout 2021, 65+ new meals will be released.
The first vegan fast-food company to go public
Globally Locally, a vegan fast-food chain based in Canada, began publicly trading TSX Venture Exchange under the symbol GBLY yesterday, April 16th. Rather than IPO, the company entered an agreement with Black Lion Capital Corp to consolidate as Globally Local Technologies Inc. Globally Locally manufactures and distributes its own plant-based protein and dairy alternatives, and can therefore offer prices comparable to other fast-food chains at its restaurants. Menu items include traditional fast-food fare made vegan, including burgers, wings, fries, shakes, and breakfast sandwiches. The eight restaurant locations primarily operate as smart kitchens offering pick-up and delivery. Within the next 12 months, the company aims to open at least 20 locations across North America. A few other vegan companies trade on the Canadian stock exchange, including The Very Good Food Company, Eat Beyond, and Modern Meat.