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- FoodTech Weekly #49 by Daniel S. Ruben
FoodTech Weekly #49 by Daniel S. Ruben
News on FoodTech, food, and society
Daniel S. Ruben
May 14, 2021 • Estimated Reading Time: 13 minutes
FoodTech Weekly #49
Hi there,
I sometimes feel like a broken record, as I keep sharing news from the cell-cultivated meat world. Why is this issue so important, anyway? The food system accounts for 25-30% of total global greenhouse gas emissions, 70% of freshwater use, and 50% of vegetated land use -- and production of animals for food is a significant chunk of these (and many others) environmental impacts. There are also other issues linked to the production of animal-sourced foods, e.g. around human health and animal welfare (we e.g. slaughter 66B chickens for meat every year).
However, the industry generates lots of revenue and jobs, and more importantly, it creates products that people all over the world really crave and cherish - e.g. meat, dairy, egg, fish, and cheese. We simply aren't about to kick this habit.
But what if we produced these foods that people love, in a different way? That's the promise of plant-based and cell-cultivated alternatives to conventional animal-sourced foods. And this shift might be happening quicker than many people believe.
This week, Dr. Uma Valeti of Memphis Meats not only announced the company rebrand to UPSIDE Foods, but also that they plan to launch a cell-cultivated chicken product by the end of this year (pending regulatory review). The company has already broken ground on a pilot plant in the San Francisco Bay Area.
Chicken Salad. Image credit: UPSIDE Foods
Also this week, Future Meat Technologies of Israel said (to Financial Times) that they've reduced its production costs by almost 50 percent, and that they can now produce 110 grams (3.8 oz) of cell-cultivated chicken for under $4. The company's CEO Rom Kshuk predicts the production cost will drop to below $2 in the next 12-18 months, and that Future Meat will be able to launch a product in the U.S. at a commercially viably price in the next 18 months.
EAT Just is already selling a cell-cultivated chicken nugget at the 1880 restaurant in Singapore; Perfect Day is using bioreactors to produce real dairy used in e.g. ice cream. Many other companies are getting funded, and are developing different types of cell-cultivated products to launch in the coming years.
What does all this mean? In short, the way we've produced foods for thousands of years, using animals, is about to change. This disruption will shift power structures. It will lead to job losses, but also job creation. It will impact the environment, human health, and animal welfare (hopefully in a very positive way). And so much more.
Of course, as in any nascent industry, there will be setbacks, bankruptcies, and challenges. There are still many technical, regulatory, and consumer acceptance obstacles. It will be a bumpy road.
But this is happening.
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I will speak at the FoodTech Innovation Network Conference on May 20 (starting at 09.10am CET), on the topic of 'Unlocking food system opportunities through tech and innovation'. It's in English and free to attend - sign up here. I will also be a panelist at a May 25, 11am CET event on Driving Business Growth through Sustainability (the event is focused on food traceability and transparency). It's in English and free to register for.
Highlights
Conversations: N/A
Noteworthy: AquaBounty sells entire harvest of GM salmon; Too Good To Go secures €30M convertible note; JLI Robotics develops robot to save farmers from dangerous grain silo work; new blockchain platform launches for the juice industry; Apeel Sciences has acquired ImpactVision; Benson Hill IPO; many consumers don't know the meaning of 'Use By' and 'Best If Used By'.
News from the FoodTech Weekly community
Random Stuff: How to turn a $2,600 investment in Spongebob popsicles into $25,000; the history of the fish stick; a micropig on a ball; vodka made from apples grown near Chernobyl. And more.
Conversations
N/A
Noteworthy
SAVRpak has closed a $3.5M Series A round, led by Mark Cuban. The company produces special biodegradable, non-chemical patches that are affixed inside food takeout containers. The patches absorb moisture to keep delivery food crisp and fresh -- no soggy fries. The Spoon says SAVRpak will use the new funding to expand production to 50 million units per month.
AquaBounty, which (as the first and only company in the world) produces genetically modified salmon in land-based aquaculture facilities, has received purchase orders for the entire 5 metric ton harvest, planned to happen at the end of May.
Direct Market, a French startup that runs a B2B marketplace for vegetables, has raised €1.7M. The company connects producers and traders of agricultural produce with retailers and wholesalers looking to buy. Direct Market produces €1.2M in sales in 2020, on a 6-9% commission model.
German startup traceless, which recycles agricultural residue into plastic alternatives, has raised an undisclosed sum of money.
One of the most dangerous jobs on a farm is getting into the grain silo/bin (e.g. grain entrapment kills dozens in the U.S. every year). The Grain Weevil from JLI Robotics is a remote-controlled specialized robot that can aerate, move, and manage the grain. It can also gather data, do inspections, break up clods, and much more.
Also, it totally look like Scrooge McDuck diving into and swimming in his money bin:
Danish food rescue app Too Good To Go has signed [link in Danish] a €30M convertible note with Vækstfonden, The Danish Growth Fund (a convertible note is a short-term debt that will typically convert into equity, ownership, in a company). Since 2016, Too Good To Go has expanded to 15 countries, hired 1,000+ people, amassed 37 million users, and saved 72 million meals. The goal is to save 1 billion meals by 2024. Too Good to Go was recently named one of the 50 most interesting European FoodTech startups, by DigitalFoodLab.
Many consumers don't know what 'Use By' and 'Best If Used By' mean, new study finds.
The FAO has released a new report on edible insects, from a food safety perspective. Also in the insect space, Cargill and French company InnovaFeed say they aim to feed 20 million piglets with insect oil by 2026, in a push to diversify their animal feed ingredients.
A new blockchain platform called JuicyChain has been designed to create value for all actors in the juicy value chain.
Big Idea Ventures has raised $50M in its debut fund focused on alternative protein, the New Protein Fund.
Apeel Sciences has acquired ImpactVision; the startup uses hyperspectral imaging technology that enables the collection of produce quality such as ripeness, freshness, and nutritional density. This, in turn, can help reduce post-harvest food loss and extend shelf life. This is important, not least since almost half of the world's population does not eat enough fruits and vegetables -- partly due to shortages and affordability issues.
Photo by Lucian Alexe on Unsplash.
Cloud Agronomics based in Colorado uses specially equipped aircraft to fly over fields before planting and after harvest, to measure soil organic carbon, up to 30 cm (1 foot) deep into the ground. Pretty cool!
Benson Hill is IPO'ing in a $1.35B SPAC. The company uses CRISPR gene editing, AI, and data analytics, to identify new seed varieties that have appealing flavor profiles, protein content, and other desirable attributes -- at a much faster rate than traditional plant breeding and discovery methodologies.
News from the FoodTech Weekly community
Stockeld Dreamery is hiring a Key Account Manager... BIOMILQ has several open positions, including e.g. Cell Culture Associate, Research Associate, Molecular Biologist, and Scientific Director... Urban Oasis is looking for two software developers (front and back-end)... Hooked is recruiting a Head of Supply & Production.
IFT, the Institute of Food Technologists, is launching the Seeding The Future Global Food Systems Challenge, with several levels of awards totaling $1M.
Are you planning on joining Sweden FoodTech BIG MEET Conference May 31 – June 4 2021? The BIG MEET is an epic democratic B2B conference that connects all the incredible people, companies, and disruptors that fuel networking, innovation and enlighten participants across the food industry from farm to fork to bin. It is designed to cultivate partnerships and share knowledge between startups, investors, and established brands. This year’s online format will include a high-level and solution-oriented marathon of disruptive insights, inspiring discussions, and foodtech demos, and will bring value through engaging talks and interactive innovator showcases. The Sweden Foodtech team is going to be connecting 5000+ food enthusiasts from around the world! Speakers include e.g. Björn Öste (Oatly), Irina Gerry (Change Foods) Jack Bobo (Futurity), Frida Nilsson (star chef), Josh Tetrick (EAT Just), Andrew Ive (Big Idea Ventures), and many others. Register now.
Want to share some FoodTech news/project with other FoodTech Weekly subscribers? Hit reply.
Random Stuff
A 4-year old boy accidentally ordered $2,600 worth of Spongebob popsicles off Amazon. His mom couldn't afford this, but luckily, kind strangers have donated about $25,000 (as of May 14, 2021) via a GoFundMe to cover the expense.
A jab with a twist: Medics (with fang stickers on their scrubs) have set up a COVID vaccination center in the Dracula castle in Transylvania, in an effort to drive up the level of vaccinations.
Image: Reuters
An Australian woman who had her tonsils removed in surgery woke up with an Irish accent. She's now gone viral on TikTok.
The history of the fish stick; quick, fascinating read.
I posted this video in the past, but I don't care, it's too cute not to repost: A micropig entering the Tokyo subway. On a ball. With a ticket.
Police in Ukraine has seized a batch of vodka (branded ATOMIK) made from apples grown near the Chernobyl nuclear plant. The Chernobyl Spirit Company is a self-described social enterprise aiming to support communities in the affected areas, as well as wildlife conservation.
I love you.
Daniel
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This issue was produced while listening to Just for the Times by Everyone You Know and Joy Anonymous. Follow me on LinkedIn and Twitter (I'm @danielsruben on Clubhouse). Did your brilliant friend forward this to you? Subscribe here.