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BEYOND MEAT IMPOSSIBLE FOODS NET NEWS

Impossible Foods CEO slams ‘the most destructive technology on Earth by far’

Impossible Foods CEO slams ‘the most destructive technology on Earth by far’

Daniel Howley

Technology Editor

January 8, 2020, 1:27 PM EST

Impossible Foods unveils plant-based pork and sausage

Impossible Foods CEO Pat Brown is bringing the heat to CES 2020 in Las Vegas, America’s biggest consumer tech trade show. The head of the plant-based meat company not only debuted two new products, a ground pork and pork sausage alternative, but slammed the meat industry in an interview with Yahoo Finance, calling it “the most destructive technology on Earth by far.”

The company’s ultimate goal is to completely replace animals as a form of food by 2035.

Impossible Foods already offers a beef alternative in its Impossible Burger, which uses plants and includes a soy-based heme protein, which gives the burger the faux blood that makes it “bleed.”

The new sausage offering goes on sale in January at 139 Burger King locations in various test markets across the U.S. There’s no word on availability for the ground pork offering just yet.

Impossible’s latest move comes as the fake meat wars continue to heat up. The company’s biggest competitor, Beyond Meat (BYND), went public in 2019 and saw its stock skyrocket from its IPO price of $25 all the way to $234 in July, before settling back down to $83.89 on Tuesday.

On Tuesday, Impossible told Reuters it’s no longer seeking a deal to supply McDonald’s (MCD) with its Impossible burger due to supply constraints. Beyond Meat’s shares jumped on the news.

Holding the meat industry’s feet to the fire

With beef and pork alternatives already on the table, Brown says that chicken and turkey alternatives, as well as other plant-based meat options, are on the way.

Impossible Foods CEO Pat Brown holds up an Impossible Burger 2.0, the new and improved version of the company’s plant-based vegan burger that tastes like real beef, at a press event during CES 2019 in Las Vegas, Nevada on January 7, 2019. – (Photo by Robyn Beck / AFP)

“Again the thing that you just have to remember to anticipate everything Impossible is going to do is that our intention is to completely replace animals as a food production technology, the most destructive technology on Earth by far,” Brown said. “And that means that any product that we’re currently producing using animals, Impossible Foods is already working on, and will commercialize a plant-based, a better, more delicious, more affordable, vastly more sustainable version of that product.”

Brown’s claims of the impact of the meat industry on the environment aren’t unfounded. There have been several studies linking meat to everything from climate change to antibiotic-resistant bacteria. Which is why, he says, Impossible Foods is so important.

Beyond Meat offers a similar reason for its products’ existence, naming the meat industry’s impact on the environment as an example of why plant-based alternatives are necessary.

“It’s a very important problem to solve,” Brown said. “Pork production is actually a big public health issue, because there are actually more antibiotics fed to pork, to pigs, than to all humans. It’s a major source of antibiotic-resistant pathogens.”

While there’s been a lot of discussion about the meat industry’s impact on climate change through methane produced by farm animals, Brown says Impossible Foods is focusing on more than just how the climate itself is affected.

“Of course, it’s not just about climate, it’s about global biodiversity, it’s about water resources, water pollution, and so forth,” Brown said. The nutritional impact of plant-based meat alternatives has also been a major sticking point for the companies. And while they have a lower amount of saturated fat than their animal-based counterparts, plant-based burgers like Impossible’s do have more sodium than beef.

But Impossible’s pork products won’t help anyone if they don’t taste good. Fortunately, for Brown, after I tried a soft-shell corn taco with the company’s ground pork offering, I can report that the taste of Impossible Foods’ faux pork is as close to the real thing as you can get.

It’s not dry, and even browns similar to pork. If I didn’t know it was plant-based, I wouldn’t have been able to tell the difference. In our own Yahoo Finance taste test last fall, Impossible’s burger outshined Beyond’s by a slim margin.

As for the pork, we’ll just have to wait and see how the rest of the world feels…

Source: Impossible Foods CEO slams ‘the most destructive technology on Earth by far’






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BEYOND MEAT INVESTING

Beyond Meat Stock Price Skyrockets on Its IPO Launch

Beyond Meat Stock Price Skyrockets on Its IPO Launch

The company debuts strong and becomes the first plant-based “meat” company to trade on a major stock exchange.

Danny Vena (TMFLifeIsGood)

May 2, 2019 at 1:28PM

The stock of plant-based meat maker Beyond Meat (NASDAQ:BYND) surged out of the gate on its first day as a public company on Thursday, soaring as much as 150% (no, that’s not a typo) in the minutes after it began trading on the Nasdaq exchange.

The shares, which were priced at $25, opened around 12:18 p.m. EDT at $46 and soared to over $60 in early trading. At current prices, this would value the company at roughly $3 billion.

The writing was on the wall.

Beyond Meat initially planned to price its shares at between $19 and $21 per share, which would have valued the company as high as $1.2 billion. Earlier this week, the company filed an updated S-1 with the Securities and Exchange Commission (SEC), increasing its expectations to a range of $23 and $25 per share. The stock was eventually priced at the high end of its revised range at $25. This was a 25% increase from the midpoint of its original estimates — though apparently not high enough.

Beyond Meat offered 9.625 million shares to the public, up from its original plans of 8.75 million, which valued the company at $1.5 billion. The company will bank just short of $241 million from the offering and plans to use the proceeds to beef up — er, augment — its manufacturing facilities, invest in additional research and development, and bolster its sales and marketing team.

Both the increased appetite for shares and the higher prices they fetched is a sign of the heavy demand from investment banks and other institutional investors, as well as from individual shareholders. Demand was much higher than the company anticipated, as evidenced by the more than doubling of the share price.

Faux burger shortage?

Demand for plant-based meat substitutes has been growing. Beyond Meat said in its regulatory filing that it’s one of the fastest-growing food companies in the U.S. The faux-meat maker has partnered with a growing number of major food chains to offer its plant-based burgers and ground-meat substitute.

Earlier this year, Carl’s Jr. introduced the Beyond Famous Star, a meatless take on one of its flagship burgers, at more than 1,000 locations. Chronic Tacos is also getting into the game, offering Beyond’s ground-meat substitute on any of its tacos, burritos, salads, or nachos. In all, the company sells its plant-based protein to 30,000 retailers, restaurants, and schools in the U.S. and Canada.

Beyond Meat isn’t the only company making headlines for offering meat alternatives. One of the company’s biggest rivals, Impossible Foods, recently made a splash by landing a deal with Burger King to launch the Impossible Whopper at more than 7,000 locations by the end of the year. Impossible Foods notified its distributors of a temporary shortage of its meatless burgers, the result of the increasing interest.

This illustrates the strong demand for healthy alternatives to meat among the general population, which could bode well for Beyond Meat…

FINISH UP: Beyond Meat Stock Price Skyrockets on Its IPO Launch






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BEYOND MEAT INVESTING NET NEWS

Where’s the beef? For Impossible Foods it’s in boosting burger sales and raising hundreds of millions

Where’s the beef?

For Impossible Foods it’s in boosting burger sales and raising hundreds of millions

Jonathan Shieber,TechCrunch Tue, Apr 3 5:38 PM EDT

Any company that’s looking to replace the more than 5 billion pounds of ground beef making its way onto tables in the U.S. every year with a meatless substitute is going to need a lot of cash.

It’s a big vision with lots of implications for the world — from climate change and human health to challenging the massive, multi-billion dollar industries that depend on meat — and luckily for Impossible Foods (one of the many companies looking to supplant the meat business globally), the company has managed to attract big-name investors with incredibly deep pockets to fund its meatless mission.

In the seven years since the company raised its first $7 million investment from Khosla Ventures, Impossible Foods has managed to amass another $389 million in financing — most recently in the form of a convertible note from the Singaporean global investment powerhouse Temasek (which is backed by the Singaporean government) and the Chinese investment fund Sailing Capital (a state-owned investment fund backed by the Communist Party-owned Chinese financial services firm, Shanghai International Group).

“Part of the reason why we did this as a convertible note is that we knew we would increase our valuation with the launch of our business,” says David Lee, Impossible Foods chief operating officer. “We closed $114 million in the last 18 months.” The company raised its last equity round of $108 million in September 2015.

Lee declined to comment on the company’s path to profitability, valuation or revenues.

Impossible began selling its meat substitute back in 2016 with a series of launches at some of America’s fanciest restaurants in conjunction with the country’s most celebrated young chefs.David Chang (of Momofuku fame in New York) and Traci Des Jardins of Jardiniére and Chris Cosentino of Cockscomb signed on in San Francisco, as well as Tal Ronnen of Crossroads in Los Angeles.”When we launched a year ago, we were producing out of a pilot facility,” says Impossible co-founder Pat Brown. [Now] we have a full-fledged production facility producing 2.5 million pounds per month at the end of the year.”

The new facility, which opened in Oakland last year, has its work cut out for it. Impossible has plans to expand to Asia this year and is now selling its meat in more than 1,000 restaurants around the U.S.Some would argue that the meat substitute has found its legs in the fast-casual restaurant chains that now dot the country, serving up mass-marketed, higher price point gourmet burgers. Restaurants including FatBurger, Umami Burger, Hopdoddy, The Counter, Gott’s and B Spot — the Midwest burger restaurant owned by Chef Michael Symon — all hawk Impossible’s meat substitute in an increasing array of combinations.

“When we started looking at what Pat and the team at Impossible was doing we saw a perfect fit with the values and mission that Impossible has to drive a stronger mindset around what it is to be conscientious about what is going on,” says Umami Burger chief executive Daniel del Olmo.Since launching their first burger collaboration last year, Umami Burger has sold more than 200,000 Impossible Burgers. “Once people tried the burger they couldn’t believe that it was not meat,” says del Olmo. “They immediately understood that it was a product that they could crave. We are seeing 38 percent increase in traffic leading to 18 percent sales growth [since selling the burger].

“At $13 a pop, the Impossible Umami Burger is impossible for most American families to afford, but pursuing the higher end of the market was always the initial goal for Impossible’s founder, Patrick Brown.

A former Stanford University professor and a serial entrepreneur in the organic food space (try his non-dairy yogurts and cheeses!), Brown is taking the same path that Elon Musk used to bring electric vehicles to the market. If higher-end customers with discerning palates can buy into meatless burgers that taste like burgers, then the spending can subsidize growth (along with a few hundred million from investors) to create economics that will become more favorable as the company scales up to sell its goods at a lower price point.

Brown recognizes that 2.5 million pounds of meat substitute is no match for a 5 billion-pound ground-beef juggernaut, but it is, undeniably, a start. And as long as the company can boost sales for the companies selling its patties, the future looks pretty bright. “To get to scale you have to sell to a higher price-point,” says Brown.That approach was the opposite tack from Beyond Meat, perhaps the only other well-funded competitor for the meatless crown. Beyond Meat is selling through grocery stores like Whole Foods, in addition to partnerships of its…

FINISH READING: Where’s the beef? For Impossible Foods it’s in boosting burger sales and raising hundreds of millions







 

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BEYOND MEAT NET NEWS

#BeyondBurger Distribution UPDATE 

#BEYONDBURGER DISTRIBUTION UPDATE

May 31, 2017 | By: Beyond Meat

ICYMI: The Beyond Burger recently launched in the MEAT SECTION at Safeway, and will now be available at more than 280 stores throughout Northern California, Northern Nevada and Hawaii. With this addition of Safeway, the Beyond Burger can now be found at more than 650 grocery stores nationwide!!

Please check to see if your local store is listed below and we recommend to CALL AHEAD to make sure they have Beyond Burgers in-stock. We don’t want anyone leaving empty handed and hungry! …

Finish reading: #BeyondBurger Distribution UPDATE | Blog | Beyond Meat

also> http://beyondmeat.com