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Daily news and analysis about the food tech revolution

GFI

Good Food Institute Awards $4M to Scientists Forging the Future of Alt-Meat

The Good Food Institute (GFI), a nonprofit trying to promote the evolution of alternative protein, announced today that it had awarded $4 million to 21 research projects to advance the study of plant-based and cultured meat. The money came from GFI’s donor-supported Competitive Research Grant Program, which thus far has donated over $7 million since it was founded last year.

The selected projects hail from nine different countries. Eight are tackling cultured (which GFI called ‘cultivated‘) meat and Here’s a quick list of some of the cool projects the 2020 grantees are leading:

  • Faster, cheaper cultured meat production. Dr. Marianne Ellis of the University of Bath, UK is developing a smaller, more cost-efficient production system for cell-based meat. She hopes that this will make cellular agriculture more accessible, including for those in remote locations and developing countries.
  • Turning waste into plant protein. Dr. Marieke Bruins of Wageningen University in the Netherlands is using plant-based proteins upcycled from agricultural waste streams to make super sustainable meat alternatives.
  • 3D printed cultured meat. Dr. Sara Oliveira of INL in Portugal is working on a bioprinted model for cultured meat design. Called M3atD, the model will help her team explore how 3D printing can help accelerate cell-based meat production.

You can see the full list of grantees from 2020 and 2019 here, if you’re interested. But overall, it seems that the most recent crop of grantees are trying to improve four key areas for plant- and cell-based meat: cost, taste, texture, and scaling. As consumers continue to hunger for plant-based meat, and cell-based meat keeps trekking towards the market, these improvements will be necessary to keep flexitarians satisfied, attract new diners, and reduce the environmental footprint of alt-proteins.

Admittedly, alternative meat is probably not the issue at the forefront of everyone’s mind right now. But in a time when your newsfeed is full of articles about pandemics, social distancing and scary outlooks, it’s nice to be reminded that positive progress is still going on to help the planet, and help us eat better too.

GFI: Investment in Plant-Based Meat, Eggs, and Dairy Hits $16 Billion, No Sign of Slowing

Today the Good Food Institute (GFI), a nonprofit promoting alternatives to conventional animal agriculture products, released a report on the state of investment in plant- and cell-based meat and dairy companies. You can download the report and read it in full, but here’s the main takeaway: the alternative protein space is on a massive upward trend, with record amounts of capital invested and high rates of new companies and acquisitions.

While it’s important to be aware of the author here — GFI has a clear agenda to promote alternative protein products — the numbers (below) are convincing. And also, not all that surprising. In fact, it’s in line with what we’ve been reporting all year.

Data from the report shows that alternative protein investment began experiencing a real boom in the past 2.5 years. Of the $16 billion invested in plant-based meat, egg, and dairy companies over the past 10 years, GFI reports that $13 billion of that occurred in 2017 and 2018 alone. We can attribute that to a corresponding increase in consumer demand for plant-based food options, specifically dairy and meat, spurred by trendy startups making tasty-in-their-own-right products like Impossible Foods, Beyond Meat, and Oatly oat milk.

There has also been an uptick in acquisitions of plant-based companies: of the 19 acquisitions in the space since 2009, 10 happened in 2017-18. That number could certainly increase as Big Food companies decide to invest more heavily in alternative protein sources (Unilever purchasing The Vegetarian Butcher; Maple Leaf Foods buying Lightlife and Field Roast). Beyond’s over-performing IPO could also entice these big corporations to spend big bucks.

However, acquisition isn’t the only way to get a bigger piece of the plant-based pie, especially going forward. For example, Tyson decided to end its investment in Beyond Meat to focus on developing its own line of plant-based products. And with its aforementioned successful IPO, Beyond has proven that acquisition isn’t the only end game for alternative protein companies.

The reports also covered investment and growth in the cell-based meat space, though products in that space have yet to come to market so there’s less going on overall. GFI notes that a whopping 11 new cultured meat companies were founded in 2018, bringing the total number of companies to 27. Of course, none of those companies have actually made a public sale. But 2019 might be the year that JUST finally makes good on its promise and brings cell-based meat to market — keep your eyes on Asia.

The plant-based/cell-based investment space isn’t about to cool anytime soon. So far in 2019 Shiok Meats, the Singaporean startup developing cultured shrimp, has raised $4.6 million, Singapore is investing over $100 million in cell-based meat (and other food innovations), and plant-based dairy company Eclipse Foods also closed a seed round. Add in Beyond Meat’s wildly successful IPO and it’s no wonder investors are scrambling to throw money at the alternative protein space. And it’s only May.

You can download the full report here.

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