Tyson Foods Invests in Maker of Plant-Based Shellfish

September 6, 2019

2 Min Read
Tyson Foods Invests in Maker of Plant-Based Shellfish
Image courtesy of Tyson Foods

The corporate venture subsidiary of Tyson Foods Inc., Tyson Ventures, announced Thursday that it has completed an investment in plant-based shellfish company New Wave Foods. 

“We’re excited about this investment in the fast-growing segment of the plant-based protein market,” Tyson Ventures President Amy Tu said in a company press release. “This continues our focus of identifying and investing in companies with disruptive products and breakthrough technologies related to our core business so we can continue to serve a growing global population.

The San Francisco-based firm is preparing to release a shrimp alternative for foodservice customers early next year.

“Our plant-based shrimp cooks and tastes just like the real thing, and it matches the texture, taste, performance, and versatility of shrimp fresh from the ocean,” said the chief executive officer of New Wave Foods, Mary McGovern, in a statement. “The proof is in the overwhelming, positive response we have had to the product.”

New Wave Foods developed the faux shrimp product in collaboration with the Culinary Institute of America and research and development professionals, including scientists and academics, across the U.S. Made from sustainably sourced seaweed and plant protein, the product contains all eight essential amino acids found in conventional meats and seafoods.

The plant-based protein company said it expects to launch its Series A round soon. 

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