NOSHSCAPE Plant Protein In Bloom Clean meat startup Future Meat Technologies (FMT) announced in May that it closed a $2.2 round of funding, co-lead by Tyson Ventures, the investment arm of CPG giant Tyson Foods. FMT is a biotechnology company that aims to design a more cost-efficient manufacturing processes for
turing process until we brought it down to $800 per kilogram today, with a clear roadmap to $5-10 per kg by 2020.” The investment comes at a time when alternative protein sources — both plant based or lab grown — are seeing increased interest and capital investment. However, many
lab grown – or “clean” – meat. Tyson Ventures has also previously invested in plant-based meat company Beyond Meat, as well as cultured meat producer Memphis Meats. The investors in the round are indicative of the global interest in the new category. Also taking part in the round was the Neto Group, an Israeli food conglomerate, S2G Ventures, a Chicagobased venture capital fund and BitsXBites, a Chinese food technology venture capital fund. Though interest in this sector is high, one of the largest hurdles for clean meat companies to clear is its high production costs, which is currently preventing the brands’ final products from being competitive on shelf with conventionally raised meat. “It is difficult to imagine cultured meat becoming a reality with a current production price of about $10,000 per kilogram,” Yaakov Nahmias, FMT’s founder and Chief Scientist said via a press release. “We redesigned the manufac-
questions remain. What will happen when this technology comes to market? Will mass market consumers embrace the products, and how will they be regulated? In April, members of the Missouri House of Representatives widely approved a bill that prohibits lab-grown meat and meat substitutes to be labeled as “meat.” The bill now goes to the Missouri Senate and if approved, would represent the first state to take on labeling definitions for the new category. The bill was backed by the state’s pork producers, the Missouri Farm Bureau and the Missouri Cattlemen’s Association. The United States Cattlemen’s Association recently also filed a petition with the US Department of Agriculture, Food Safety and Inspection Services (FSIS) to “exclude products not derived directly from animals raised and slaughtered from the definition of ‘beef’ and ‘meat.’” That petition is currently open for comments.
14 BEVNET MAGAZINE – MAY/JUNE 2018
CrossFit to Grow Presence in Food
Exercise brand CrossFit is bringing its “RX” standards outside of the gym and into the grocery store via a partnership with meat company Strauss Food. Customers will be able to get a selection of “CrossFit approved,” grass fed beef and free range chicken – first via a subscription box, and soon after, in more than 3,000 grocery retailers across the U.S. Soon after, the two will develop a line of jerky as a partnership under the CrossFit brand itself. It’s the first time the high-intensity workout plan, which often influences its participants’ nutrition habits, has developed its own food and beverage products. CrossFit is hoping its new licensing partnership will allow consumers who identify with the high-intensity fitness community to more easily find products that fuel their workouts. It’s a strategy that another diet and lifestyle brand, Whole 30, has rolled out in partnership with companies including Nutpods and The New Primal. The brand’s official entrance into food should come as no surprise. The sport’s athletes have long been tapped to act as brand ambassadors for natural food brands. Brands such as RX Bar, Fuel for Fire and Kill Cliff have all targeted the CrossFit consumer and seen adoption of their products spread from the gym to the grocery store. That’s because when a company wins over that consumer, they win over a niche audience with a massive following: There are more than 13,000 CrossFit affiliate “boxes” in over 120 countries, and in 2018 alone, about 416,000 people registered to compete in CrossFit’s annual fitness competition, the CrossFit Games. “This is just the exact audience that will understand the importance of what we are accomplishing [with Strauss],” Randy Strauss, the co-president and CEO of Strauss Meats, told NOSH. After the meat partnership has rolled out, Strauss will also help CrossFit establish a co-branded line of jerky to be sold inside CrossFit affiliated gyms and grocery retailers. The jerky brand is still in the innovation stage, but will have no added sugar and be held to the same quality standards as the rest of Strauss’s meat products. In the future, CrossFit will consider partnering with other like-minded food and beverage brands to launch more lines of CrossFit branded snacks and food products beyond jerky, though there is nothing in the works as of yet, according to Gary Krakower, VP of Licensing at IMG, a global sports and talent management company that works with CrossFit. Krakower noted that CrossFit is particularly interested in products within the categories its athletes turn to, such as nuts, seeds and bars. But the company is most concerned with the quality of products rather then scaling quickly. “We have zero interest in products that don’t align with our exercise methodology or nutrition prescription,” Cain said. “CrossFit is leading a metabolic revolution that is changing consumer habits. Mainline brands are aware of this and everywhere we see them adapting.”