Plant-based food group Neat Burger has successfully raised $18m in a Series B fundraise to support its expansion into the US. The raise was completed in October and saw reinvestment from Formula One champion Lewis Hamilton and Chimera Capital, alongside new investors including LionTree and New Theory Ventures. Private institutional investment firm B-Flexion led the round. Neat Burger opened its first US location in Nolita, New York, last month, describing it as a “strategic move to tap into the city’s thriving foodie culture and health-conscious consumer base”. The company’s fully plant-based menu offers ‘all-American classics’ reimagined with ‘healthier and clean’ ingredients. Its Neat Burger patty is made with a blend of superfoods including mung beans, quinoa and chickpeas. Further international expansion is set to follow, with new restaurants to launch in Italy and the Middle East, where Neat Burger opened its first franchise in Dubai in October 2022. Neat Burger said the first quarter of this year saw a record performance by its London restaurants with like-for-like sales up 20%. According to the group, sales during the New York restaurant’s first month of operation have beaten expectations, with high levels of repeat purchases making it the best-performing store in the group’s estate. Co-founder and CEO of Neat Burger Zack Bishti said: “We see New York as a tastemaker gateway to the US and by all metrics it has been our most successful launch to date. New Yorkers have good taste and strong opinions and we’ve been thrilled to see customers continually return.” Bishti added: “We’re at the heart of the growth in plant-based diets and our proximity to the customer voice sets us apart. In response to the growing demand for cleaner ingredients, we’ve incorporated healthier options into the New York menu, while continuing to serve our growing community food that’s as sustainable as it is delicious.” #NeatBurger #US

Big Idea Ventures has announced a first close for its New Protein Fund II (NPF II), which aims to raise $75 million within the next 12 months to support new alternative protein and ingredients start-ups. The round also included participation from AAK and Bühler, which were both previous investors in Big Idea Ventures’ New Protein Fund I (NPF I) in 2020. Big Idea Ventures is said to be broadening its investment portfolio by including companies that specialise in alternative ingredients. In addition to continuing its current investment strategy, the company aims to invest in plant-based, cell-based and fermentation-enabled alternative protein companies worldwide. NPF II is set to invest in early-stage start-ups around the world both through its accelerator programme and direct investments. Big Idea Ventures’ accelerator programme is an intensive five-month project conducted across the company’s Paris, Singapore and New York offices. It assists companies in overcoming obstacles to effectively scaling a start-up by providing assistance from internal and external experts, corporate investors and a broad network of mentors. Big Idea Ventures founder Andrew D. Ive said: “With NPF I, we found and worked with companies we believe will become leaders in the alternative protein category. NPF II enables us to bring even more innovators with fantastic innovations and teams in our portfolio. Our mission is to solve the world’s biggest challenges by supporting the world’s best entrepreneurs, scientists and engineers.” D. Ive added: “From tantalising plant-based meat to sustainable cultivated oysters, as well as innovative seaweed and mycelium-based products, our team has been privileged to witness the growth and development of these exceptional product lines. Currently, we are focused on enabling technologies for the industry. We foresee that through NPF II, we will be able to accelerate the industry further with investments in technologies such as molecular farming, precision fermentation, AI-enabled softwares and hardwares, and more.” The new raise brings Big Idea Ventures’ total assets under management to over $100 million. #AAK #BigIdeaVentures #Bühler

A draft guideline that would restrict the labelling of plant-based dairy alternatives should “be torn up,” says the UK’s Plant-Based Food Alliance (PBFA). The guidance, which was drafted in February 2022 by the Food Standards and Information Focus Group and is yet to be published, states that phrases such as ‘mylk,’ ‘m*lk,’ ‘not m*lk’ or ‘alternative to’ dairy products should be banned. The guidance is based on the belief that consumers are confused by names such as ‘plant-based butter’ or ‘not milk’. But in the US, draft guidance from the FDA issued this year stated that the word “milk” could be used for plant-based drinks precisely because consumers were not confused by such labelling. The alliance has said that the guidance, if published, could lead to products being pulled from the shelves if the labelling on the product fails to meet the scope. Defra told PBFA members that responsibility for the issue lies “solely with local authorities and the Trading Standards Officers acting on their behalf”. PBFA CEO Marisa Heath said: “The guidance was drafted behind closed doors and without the consultation of the plant-based food sector. Not only was this developed in an undemocratic process, but it is also highly anti-competitive as it restricts consumer choice and seeks to curb a booming industry.” ProVeg UK said the guidance will introduce “tougher rules on plant-based labelling” than those that are already in place in the European Union. It listed brand names that would be forbidden from supermarket shelves and coffee shops under the new guidance, including Flora Plant B*tter, M.L.K.Ology, Wunda Plant Based Not Milk, Good Hemp – Oat + Hemp Milk, Mylk and Qurkee M’LK, among others. According to Nielsen data published by the Good Food Institute Europe, total unit sales for plant-based milk increased by 17% between 2020-2022. Jimmy Pierson, director at ProVeg UK, said: “It seems incomprehensible that the government would impose such restrictive measures on a booming part of the UK economy. It is both outrageous to push this forward and hugely unnecessary.” He added: “It sends out the wrong message about supporting British business and about tackling climate change. Plant-based diets emit half as much greenhouse gas as animal-based diets and should be actively encouraged by the government, not hindered.” Jeremy Coller, president of the Alternative Proteins Association in the UK, said: “Civil servants must have a rather dim view of British consumers if they think shoppers find labels such as ‘vegan cheese’ and ‘soya mylk’ unduly confusing”. He added that if the government is “serious about growing the economy and supporting business in the UK,” it should let consumers make up their own minds. Commenting on the draft guidelines, founder of plant-based food producer Allplants, Jonathan Petrides, wrote in a LinkedIn post: “Ever heard suggestions to ban the name ‘Electric Car’ because cars have “traditionally been built with combustion engines” and people might get confused…If the government would actually regulate in the interests of normal people, we could stop big destructive industries from all this endless milking.” #FoodStandardsandInformationFocusGroup #ProVegUK

Belgian fresh produce company Greenyard has announced the acquisition of Gigi Gelato for an undisclosed sum. Founded in 2018, Gigi Gelato is a plant-based Italian gelato start-up headquartered in the Netherlands. Gigi Gelato uses fruits and vegetables to create a healthier alternative to traditional ice creams. With no dairy, additives or artificial flavours, the brand offers a “pure-plant” food experience with a creamy texture and flavour. Gigi Gelato is available in three different flavours in various European countries, including strawberry, blueberry and beetroot; mango, passionfruit and fennel; and ginger, orange and carrot. With the acquisition, Greenyard will gain access to a much wider market within the frozen category. According to Greenyard, the company aims to leverage its relationships with leading European retailers and foodservice partners to serve as a “commercial springboard” for this new product category within frozen fruits and vegetables. The founders of Gigi Gelato will remain on board to provide support for the product’s commercial strategy and innovation process. Kobe Vanhaecke, commercial director at Greenyard, said: “This is an important step in our journey to market innovative and convenient products that stimulate the consumption of fruit and vegetables. By expanding our frozen product range, we can now provide broader market availability for this revolutionary pure-plant product innovation. With the support of the original founders and our in-house expertise, we are confident Gigi Gelato will be a formidable contender for the ice cream industry.” Terms of the transaction were not disclosed. #GigiGelato #Greenyard

SP Nutraceuticals has unveiled Metavo, which it says is the “world’s first” plant-based metabolism management supplement brand. Featuring avocado compound AvoB, Metavo activates metabolism at the cellular level, enabling the body to metabolise fat, proteins and carbs to help improve insulin sensitivity, glucose tolerance and energy. According to the brand, Metavo can support metabolic health by helping with food cravings and energy slumps, enabling proactive health management, which allows consumers to activate their metabolism naturally. Metavo was developed by scientist Paul Spagnuolo, associate professor in the Department of Food Science at the University of Guelph, Canada, who was originally conducting medical research. While researching, Spagnuolo discovered that an avocado bioactive compound, Avocatin B (AvoB), can support mitochondria health at the cellular level. By inhibiting fatty acid oxidation, AvoB supports proper metabolism of fats and carbs which is said to improve insulin sensitivity and metabolic flexibility, allowing the body to better utilise fuel sources. This led to the development of Metavo. Spagnuolo commented: “We are seeing a knowledge gap when it comes to metabolic health. Metabolic health is central to overall health and emerging research has shown how AvoB can support mitochondria health at the cellular level to support metabolic health, which can have significant physiological benefits.” Metavo is vegan, gluten-free, non-GMO and free of added sugars. It can seamlessly integrate into consumers’ daily health routine and is offered in a twice-daily capsule form or a powder to be mixed into beverages and taken twice daily. The avocado-based supplement is available to purchase in select US retailers now for $39.99. #Metavo #SPNutraceuticals #US

Kerry has introduced two new plant-based processing aids for enhancing beer quality, improving process efficiency and improving cost savings in brewing. Biofine Eco and FermCap Eco, are part of Kerry’s new Eco range of plant-based and sustainable brewing solutions. The solutions are a collection of tools designed to help brewers create “consumer-friendly beers while reducing their impact on the environment”. Biofine Eco aids in improving beer clarification, while FermCap Eco is a foam-control product that optimises process efficiency by increasing fermenter capacity, improving hop utilisation and eliminating over-foaming and beer waste. The products are said to deliver significant benefits such as providing clean, environmentally friendly and cost-saving solutions for brewers globally. Deborah Waters, product director of brewing ingredients, Kerry said: “We are proud to introduce Biofine Eco and FermCap Eco which have been specifically designed as environmentally friendly solutions to replace traditional fining and antifoam options with plant-based alternatives. These innovative ingredients are better for the planet and the production process by enhancing the beer quality, increasing production efficiencies, reducing carbon footprint and increasing throughput.” Biofine Eco and FermCap Eco are also compatible with both membrane and crossflow filtration, which is proven to reduce membrane fouling and being plant-based processing aids, Waters added. #beer #Ireland #KerryGroup

Plant-based food brand Wicked Kitchen has announced the acquisition of US-based alt-protein start-up Current Foods. Current Foods provides plant-based seafood to foodservice and fine dining locations in the US and Europe. “Current Foods is a perfect match for Wicked as a global-impact brand with the same mission and complementary products,” said Wicked Kitchen’s CEO Pete Speranza. “With this deal and the Good Catch acquisition, we’re uniquely positioned as consumers continually learn about the environmental impact realities on sea life.” Current Foods is the second acquisition by Wicked Kitchen within the last year after the company bought Good Catch, a plant-based seafood consumer packaged goods (CPG) brand, in September. The latest acquisition aims to bring Wicked Kitchen new opportunities, channels and consumers. “We’re able to put the Current Foods brand in the best possible spot to thrive and as a versatile multi-category brand, Wicked Kitchen is the home to do that,” Speranza commented. According to Wicked Kitchen, it now offers “the largest variety of chef-crafted animal-free CPG in the industry,” available at 90,000 distribution points. Wicked Kitchen currently has more than 150 products in the UK and over 40 products in the US. The all-stock transition is set to bolster Wicked Kitchen’s foodservice capabilities with plant-based sushi-grade tuna and salmon. David Barber, partner at Astanor Ventures, the largest investor at Current Foods, said: “Wicked’s commitment to impact and to defining the future of the plant-based market makes them the right home for Current Foods’ high-quality products that combine superior technology and unbeatable flavour to create a vegan sushi-grade alternative to fish”. Financial terms of the acquisition were not disclosed. #CurrentFoods #US #WickedKitchen

Agrocorp International and Megmilk Snow Brand have agreed to establish a joint venture (JV) to manufacture plant-based food ingredients. The entry into the plant-based food business is an important new growth area for Megmilk and is part of its ‘Medium-Term Management Plan 2025’. The JV aims to leverage the strengths of both companies and will see the construction of a factory in Malaysia to manufacture soy-free plant protein products such as pea protein, pea starch and pea fibre. Production at the factory is expected to begin in late 2025. Agrocorp explained in a LinkedIn post that pea protein can be used in a variety of plant-based food applications, such as in plant-based beverages, meats and cheese. The company added that peas have a high nutritional value and health benefits, they are high in protein, fibre, vitamins and minerals, and are non-allergenic and environmentally sustainable. Agrocorp stated: “Legumes like peas are plants that contribute to nitrogen fixation, containing symbiotic bacteria called Rhizobia within nodules in their root systems, producing nitrogen compounds. Nitrogen is a major component of protein and a required nutrient for plants. Peas, or other legumes, in the crop rotation, usually lead to lower needs for mineral and organic nitrogen fertilisers, which contribute to 25% of the total direct greenhouse gas emissions by agriculture in the EU.” #Agrocorp #Malaysia #Megmilk

Irish dairy company Tirlán has expanded its oat portfolio to include Oat-Standing Gluten Free Liquid Oat Base. The new liquid oat base can help manufacturers meet the demand for gluten-free, natural and functional oat products. According to Tirlán, Oat-Standing Gluten Free Liquid Oat Base is an oat concentrate that solves the “common challenge” of grittiness found in standard plant-based options. The company says it can be easily incorporated into a variety of beverages and dairy alternative applications. The base uses oats grown on Irish family farms through Tirlán’s ‘strict’ closed-loop supply chain called OatSecure. Yvonne Bellanti, category manager at Tirlán, said: “Our range of Oat-Standing Oat Ingredients is continuously expanding, and we are delighted to extend the range from flakes and flours to include our new Liquid Oat Base. Flavour and texture are key consumer motivators for our customers to consider while developing new products.” She continued: “Our Liquid Oat Base helps our customers to deliver a sweet sensory experience and a smooth mouth feel in the end product”. The base is said to be especially useful in dairy alternative applications such as oat beverages. #oat #Tirlán #UK

Dairy alternatives company Miyoko’s Creamery and its founder, Miyoko Schinner, have announced that they have resolved all legal disputes between them. Schinner and the company posted a joint statement on their LinkedIn pages which confirmed that all legal claims made against each other had been withdrawn. The joint statement said: “Miyoko’s Creamery acknowledges the tremendous creativity, hard work, and integrity of its founder, Miyoko Schinner, a true pioneer in vegan creamery products, and appreciates her many contributions to the company over the years”. The post concluded with: “Miyoko and the company wish each other well as they go their separate ways.” The news follows the company’s lawsuit filed against Schinner in February after she was reportedly accused of stealing confidential information and trade secrets following her dismissal as CEO last year. In a LinkedIn post by Schinner at the time, she stated her removal as chief executive occurred in June 2022 and “negotiations” for her continued involvement stalled before Christmas. The post continued: “As we worked to grow the business, conflict grew around the best path forward for future growth while continuing to live our values, founded on the principles of veganism and animal rights, as well as our B Corp status. That we find ourselves here is representative of the extent to which my views and approach have not always prevailed (especially in the past two years).” #MiyokoSchinner #MiyokosCreamery

Alpha Foods has announced a new high moisture extrusion (HME) technology that it says can enhance the taste and texture of plant-based foods. According to Alpha Foods, the new technology and proprietary processing can create products that are indistinguishable from their animal-based counterparts and can replicate the taste and texture of actual chicken. The HME technology combines high-pressure and high-heat extrusion, enabling precise moisture control to create a meat-like texture that “pulls apart, cooks and replicates the juiciness and taste” of the animal-counterpart. The technology can also Increase the nutrient density of the product – Alpha Foods Homestyle Chik’n includes 18g of protein and 7g of carbs and is only 160 calories per portion. Alpha Foods believes that using the new HME technology, it has created a product lineup that “consumers will think is the real thing,” as the company reports that taste and texture are the top two factors consumers consider when choosing plant-based options. The latest news follows Alpha Foods’ announcement at the beginning of the month, that it entered a joint development agreement with animal-free protein accelerator The Every Co, to accelerate improvements in the taste and texture of non-animal products. #AlphaFoods #highmoistureextrusion

Redefine Meat’s new head of UK, Simon Owen 3D-printed plant-based meat producer, Redefine Meat, has announced that the former managing director of Bacardi, Simon Owen, is to head the company’s UK division. In his new role, Owen will strengthen Redefine Meat’s foothold in UK foodservice and drive UK sales growth as well as new regional markets over the coming years. Owen has more than 20 years of UK and international experience in Fast Moving Consumer Goods (FMCG) and building brands. His previous senior leadership roles include MD of Bacardi Australia and UK sales director for the drinks giant, where he drove brand growth. Owen’s career in the F&B industry also consists of other senior positions such as director of EMEA for Britvic and customer director for Unilever. Owen commented: “The opportunity to lead Redefine Meat in the UK is an exciting new challenge, with the chance to define the strong vision of new-meat in one of the leading, trendsetting markets in Europe…Similarly to a successful company like Bacardi, Redefine Meat’s innovative business model can reach new heights by partnering with various restaurants, from fine-dining to street food, hotel chains, and every segment serving traditional meat today.” CEO and co-founder of Redefine Meat, Eshchar Ben-Shitrit, added: “Simon’s FMCG experience across different business models and categories from frozen foods to drinks, as well as building successful premium brands, perfectly aligns with our ambitious growth plans in the UK and worldwide. His expertise in scaling businesses is ideal to bring new-meat to many more consumers in the UK through additional partnerships.” You may also like to read: Redefine Meat announces new partnership, launches five NPDs Redefine Meat introduces first plant-based pork product Redefine Meat announces commercial launch of plant-based whole cuts #3Dprintedmeat #Bacardi #RedefineMeat #UK