Konscious Foods, Merit Functional Foods and Canadian Pacifico Seaweeds (CPS) are collaborating as part of a CAD 15.3 million (approx. $11.4 million) project to deliver a new line of plant-based seafood products. François-Philippe Champagne, Canadian Minister of Innovation, Science and Industry, said: “This project, with the support of the federal government, is building capacity, leveraging partnerships and creating more jobs and economic growth, all while delivering in-demand products”. Konscious Foods has incorporated CPS’s seaweed ingredients and Merit’s pea and canola proteins to develop more than 20 seafood alternative products. Protein Industries Canada, which invested CAD 5.5 million (approx. $4.1 million) in the partnership, has enabled the project to advance at a quicker pace. A total of CAD 15.3 million has been committed, with the partners investing the remaining CAD 9.8 million (approx. $7.3 million). The partnership’s focus is to create nutritious, sustainably sourced plant-based items that match the taste and texture of the products’ seafood counterparts. CPS founder and CEO, Majid Hajibeigy, said: “At CPS, our mission is to convert raw seaweed materials into useful extracts and functional ingredients that can be readily used by a variety of sectors. Our oceans are chock-full of mineral compounds, and seaweeds are a natural, edible filter that readily absorbs these in-demand nutrients.” Ryan Bracken, co-CEO of Merit Functional Foods, commented: “Our mission at Merit is to empower the next generation of plant-based foods and beverages. As such, we are excited to provide Konscious Foods with Merit plant proteins that deliver on functionality, taste and nutrition, to create plant-based seafood alternatives that exceed consumer expectations.” Konscious Foods expects to roll the products out across North American markets in the grocery and foodservice channels. #KonsciousFoods #Canada #CanadianPacificoSeaweeds #MeritFunctionalFoods #Plantbasedseafood #ProteinIndustriesCanada

Lindt & Sprüngli has introduced a new vegan chocolate bar in time for Veganuary. Crafted according to traditional Swiss recipes, the vegan caramel sea salt bars feature cocoa blended with gluten-free oat drink, almond paste and crisp caramel pieces with salt. Lindt said: “Responding to customer demand, this new vegan range is testament to Lindt’s innovative new product development, with a no-compromise approach to quality”. Lindt vegan caramel sea salt bars will be available at Tesco and Sainsbury’s stores from January 2023 for an RRP of £3 per 100g bar. #Lindt #UK

Sternchemie has introduced a vegan coconut milk powder that can be used across a range of plant-based food and beverage categories. The latest addition to the SternCream range is said to have a very high coconut milk content, which gives it a light sweetness. According to Sternchemie, SternCream Vegan is versatile and straightforward to work with. The new ingredient can be used as a functional alternative to traditional milk products and is suitable for applications ranging from plant-based drinks and desserts to soups and dips. The vegan solution keeps longer than regular coconut milk, with a shelf life of at least 24 months, quickly dissolves in lukewarm water and offers a creamy mouthfeel. As a natural product, SternCream Vegan is also very “declaration-friendly”. #SternWywiolGruppe #Sternchemie

FoodStory Brands-owned snacking brand, Fresh Cravings, has expanded its collection of dips with the addition of a new flavour. The new Jalapeño Popper flavoured dip consists of diced jalapeños and chives added to the brand’s popular cashew base. The vegan dip is keto-friendly, contains no preservatives and is gluten-free. Jay Whitney, CMO of FoodStory Brands, said: “As the fastest-growing refrigerated salsa and hummus brand in America, we are thrilled to expand our plant-based dips. We love rethinking classic dips and making craveable, elevated fresh-snacking options accessible to all.” The new dip is available at select retailers across the US. #FoodStoryBrands #FreshCravings #US

Oatly has revealed it will be cutting its employee headcount, after reporting a widening loss for its third quarter. The plant-based milk maker once again revised its full-year outlook, and now expects revenue growth of 9% to 12%, a downgrade from its already-trimmed down expectation of a 24% to 29% increase. The company said that its Q3 results – which included a net loss of $107.9 million – were below its expectations, after it was hurt by pandemic restrictions in China, production challenges and “foreign exchange headwinds”. For the quarter ended 30 September, Oatly recorded revenue of $183 million, a 7% increase compared with the year-ago period. In its Q3 earnings statement, the company revealed that it planned to cut its workforce as part of a raft of cost-reduction measures. The oat drink giant did not disclose how many of its employees would be affected by the move but said an overhead and headcount reduction would impact up to 25% of the costs related to group corporate functions and “regional EMEA layers”. Oatly CEO, Toni Petersson, said: “Third-quarter financial results were below our expectations, largely driven by Covid-19 restrictions in Asia, production challenges in the Americas and continued foreign exchange headwinds”. “However, we continue to see strong velocities, year-over-year sales volume growth and minimal price elasticity globally which we believe demonstrates the power and resilience of the brand.” #financialresults #milkalternatives #Oatmilk #Oatly

The Good Bean has launched its new Heat & Eat bean-based meals in four flavours. Available in four savoury options, Indian Coconut Curry, Low-Carb Classic Chili, Santa Fe Green Chile and Mexican Smoky Chipotle, the Heat & Eat bean-based meals include 7-11g of plant protein and 4-6g of fibre per pouch. “As we all know, representation matters. Of the innumerable ways this can be manifested, food, for me, rises to the top as being the most evocative way to bring culture to life,” said Sarah Wallace, founder and CEO of The Good Bean. “With our new line of ready-to-eat bean meals, we wanted to honour traditional food culture, creating a product line that provides all the clean-label, plant-based nutrition that beans have to offer, while showcasing multicultural flavours and innovation in the aisle.” At an MSRP of $3.99 The Good Bean Heat & Eat Meals are available for purchase at US national retailers. #beanbased #TheGoodBean #US

B&G Foods is seeking to sell its Back to Nature snack brand, which it says is “no longer core to the company’s overall business or long-term strategy”. As a result, the company recorded impairment charges of $103.6 million in the third quarter. In 2017, B&G Foods purchased Back to Nature Foods Company, then a joint venture between Brynwood Partners VI and Mondelēz International, in a deal worth $162.5 million. Speaking during a Q3 conference call, CFO Bruce Wacha said: “This is a brand that made sense for B&G Foods to acquire when we were attempting to build our snacking portfolio”. He continued: “However, given our current focus, we now believe that there are better owners for Back to Nature than B&G Foods. As a result, we are actively looking to sell the brand and have therefore reclassified the assets of the Back to Nature business as assets held for sale on our balance sheet.” #BampGFoods #BacktoNatureFoods #US

Sempera Organics and chef Srijith Gopinathan have created a new pillar of sustainable food, made from three mushroom species and chickpeas. Mamu, made with shiitake, king oyster, white button- mushrooms, chickpeas, canola oil and water, is naturally packed with umami. Utilising the whole mushroom (the mycelium root and the fruiting body), Sempera Organics has created a sustainable and regenerative whole food source. Mycelium is fast-growing and ferments the chickpeas, making the product more bioavailable, lectin-free and stronger in flavour. Chef Gopinathan, said: “Mamu retains moisture throughout the cooking process, resulting in a juicy, flavourful experience. It freezes well, thaws and cooks quickly, easily absorbing flavour and yields a delicious finished meal every time.” Mamu is currently offered in a ground format and can be used in a wide range of applications: sautéed, grilled, fried, baked, poached, broiled, seared and emulsified. The new ingredient is mildly processed, high in fibre, non-GMO and free from gluten, soy and cholesterol. Sempera’s proprietary technology allows the company to “go from spore to store-ready finished ingredients under one roof.” Earlier this year, Sempera was invited to join San Francisco-based, food innovation platform, MISTA. “Sempera Organics’ launch of Mamu is an important milestone for the food industry. Mamu has the potential to create a new category of food that can fundamentally shift consumer perception and adoption of alternatives to traditional animal proteins,” said Scott May, head of MISTA. #Mushrooms #SemperaOrganics #US

A new collaborative platform backed by the Novo Nordisk Foundation has launched to accelerate the development of plant-based foods. Plant2Food will bring together researchers and companies to explore food science challenges. The platform is based on open collaboration, meaning that any knowledge or insights garnered through its activities will become available to everyone. The universities and companies joining Plant2Food waive any claim to intellectual property rights, and everyone has the opportunity to further develop the results of research projects and potentially use them for commercial purposes. Partners include Food & Bio Cluster Denmark, which represents companies, knowledge institutions and other organisations, and will focus on how to translate the research undertaken into practice. The Novo Nordisk Foundation is awarding up to €27 million (DKK 200 million) to support the initiative over the next five years. As partners in Plant2Food, Aarhus University, the University of Copenhagen, the Technical University of Denmark and the Netherlands’ Wageningen University and Research will have access to the funds from the Foundation allocated for research. “We need to rapidly develop foods that can feed a growing world population without over-utilising the planet’s resources,” said Claus Felby, senior vice president of biotech at the Novo Nordisk Foundation. “Plant2Food creates a unique opportunity to make Denmark a leader in developing plant-based foods and ensure that we leverage the huge potential already existing in Denmark’s research community and companies and build networks with the best international experts in the field.” Plant2Food will focus on developing knowledge about the properties of crops and how they can be used in food products, which can subsequently be applied further up the value chain. #Denmark #Plant2Food

Upton’s Naturals has launched Vegan Holiday Roast Slices in Gravy, a fully cooked, sliced seitan turkey alternative for plant-based diets. Dan Staackmann, founder of Upton’s Naturals, said “We’ve offered a vegan holiday meal featuring sliced seitan roast with gravy at our Chicago restaurant for many years. It’s particularly popular with lone vegans joining the family holiday table or for those who want to easily enjoy a meat-free turkey meal without doing all the cooking.” The turkey alternative is high protein and low fat, contains no GMOs and is cholesterol-free. The vegan holiday roast is available at Sprouts Farmers Markets across the US for an RRP of $9.99. #Plantbasedchristmas #Plantbasedturkey #UptonsNaturals #US

Beyond Meat has posted a bigger-than-expected loss for the third quarter, as the company’s margins are hit by the impact of inflation and industry-wide supply chain challenges. The plant-based meat giant’s net loss widened to $101.7 million, or $1.60 per share. Analysts had on average expected a loss of $1.14 per share, according to Refinitiv IBES data, cited by Reuters. Beyond Meat also missed expectations for revenue, which came in at $82.5 million, behind analysts’ estimates of $98.1 million. The 22.5% decrease was driven by “weaker-than-expected” demand and an around 11.2% decrease in net revenue per pound. Heavy discounting, particularly in the EU, has squeezed Beyond Meat’s margins. In October, the company cut its revenue forecast for a second time, citing “ongoing softness” in the plant-based meat category as one factor negatively impacting its performance. According to Beyond Meat, consumers are trading down to cheaper proteins, including animal meat, amid inflationary pressures, and the company has also announced a raft of job cuts in recent months. Meanwhile, the plant-based meat maker faces rising logistics and raw material costs and increasing competition in the category. Commenting on the company’s latest results, president and CEO Ethan Brown said: “As we shared last month, Beyond Meat is executing a full force pivot to a sustainable growth model, emphasising the achievement of cash flow positive operations within the second half of 2023”. “This transition is designed to fortify our business in the near-term as record inflation continues to pose a challenge for our brand and category, positioning Beyond Meat to endure and advance toward our long-term objective of being a major protein provider within the $1.4 trillion meat industry.” He continued: “Though this quarter’s results are disappointing, with a sharp decline in revenues and associated knock-on effects across the income statement, including gross margin, driven by a challenging macro environment, we are implementing aggressive measures with urgency to positively impact our near-term operations”. “Our path forward comprises three key actions: significant reduction of our operating expenses; intensified focus on cash flow accretive inventory management activities; and sales and marketing programmes that are tightly focused on opportunities and segments that strike the right balance between near-term growth and our most valuable long-term opportunities.” #BeyondMeat #financialresults #US

Plant-based London restaurant Holy Carrot has partnered with vegan sauce maker Nojo to launch three plant-based mayonnaises. The ethically sourced vegan mayos are 100% natural and contain no added sugar. The range consists of three flavours: Cool Classic, a creamy, simple mayo, Magic Ceasar, with garlicky, smoky and lemony notes and Oh So Spicy, a fiery blend crafted with sriracha for a tangy kick. Holy Carrot founder, Irina Linovich, said: “Bringing together two like-minded brands to create a sauce that is delicious and mindful, is a unique experience for us. We hope we can introduce people to plant-based condiments with our exciting new range of mayos.” #HolyCarrot #mayonnaise #Nojo #UK