The warring foodtech firms have agreed to dismiss the case with “each party to bear its own costs, expenses, and attorneys’ fees.”
“We are trying to drive this business to cashflow positive operations as quickly as possible,” says CFO Lubi Kutua. “We have not said that that will occur this year.”
“We have very low capex, which allows us to to sell at parity, or even in some instances, to undercut traditional seafood,” says CEO Brittany Chibe.
São Paulo-based startup Typcal is seeking to blaze a trail in the Latin American market with mycoprotein which it claims grows more rapidly, on a broader range of feedstocks, than competitive fungi strains.
The firm will use the funds to scale up its production process, which it claims uses a fraction of the water and energy used by brands such as Quorn, with lower capital expenditure.
The case mirrors a high-profile class action filed against Quorn Foods, which ultimately agreed to disclose that its fungi strain was a type of mold on product labels as part of a settlement.
Elmhurst 1925—best known for its clean label plant-based milks and creamers—is moving into the meat alternatives space with a single-ingredient chicken alternative.
The approval letter is the first to cover a meat-replacing mycoprotein strain outside of the Fusarium genus and the first to include an USDA evaluation of mycoprotein as a meat enhancer.
The PTAB has invalidated the bulk of the claims in an Impossible Foods US patent following a challenge by Motif FoodWorks but declined to review six other patents at issue in their IP dispute.
The judge handling a protracted IP dispute between fungi-fueled alt meat players Meati Foods and The Better Meat Co has thrown out Meati’s claims to BMC’s patents.
The startup has LOIs and offtake agreements from joint development agreement partners for 33 tons of dry mycoprotein per month (99 tons when hydrated), claims CEO Paul Shapiro.
ABEC accuses Eat Just and its cultivated meat subsidiary GOOD Meat of engaging in “the worst aspects of litigation practice in the profession.”
Beyond Meat posted a net loss of $54.4m on revenues down 18% to $75.6m in Q1, 2024. However, gross margins moved back into positive territory.
What is holding back the plant-based meat market? Poor taste and texture? The hefty price tag? Poor branding and positioning?
US retail sales of plant-based meat fell 12% in 2023 with units down 19%, while plant-based milk sales were up 1% with units down 8%.
Dutch startup Rival Foods will start deploying shear cell technology—a novel approach to texturizing plant-based proteins that can create whole cuts—at a “commercially viable scale” this summer.
Meatable has slashed production times for cultivated pork by dramatically speeding up the process by which its stem cells differentiate into fat and muscle.
Planted is deploying a “proprietary solid-state fermentation process” to make its beef steaks, says the Zurich-based firm.
Umaro Foods’ seaweed-fueled bacon will make its retail debut on the west coast with a leading food retailer.
Spanish plant-based meat startup Heura posted a 22% increase in sales to €38.3m ($41.5m) in 2023 and says it’s on course to turn a profit next year.
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