Eat JUST – vegconomist – the vegan business magazine

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Eat Just Cutting 18% of Employees to Help Plant-Based Egg Division Become Profitable

February 28, 2023

Eat Just Inc. says it is cutting about 18% of jobs in its plant-based egg division, reveals CEO Josh Tetrick, in order to help reduce costs and reach profitability. While the company reports demand for its plant-based eggs is strong and growing, Tetrick says the product portfolio is currently not profitable. The cuts will eliminate about 40 jobs, but will not affect staffers at GOOD MEAT, the company’s cell-based meat division, reports Bloomberg. According to Tetrick, sales of its liquid and folded plant-based eggs continue to reach record levels, with the company increasing new household penetration by 11% in January. Despite the products’ strong performance, Tetrick states that, collectively, its offerings are not profitable and the company must take initiatives to reduce costs. Beyond layoffs, …

Topics:Mung beans

Marketing & Media

10 Times Vegan Brands Took on the Food Industry With Provocative Ad Campaigns

January 20, 2023January 19, 2023

In a week where allplants and THIS in the UK, as well as Eat Just in the US, have challenged their counterparts with disruptive ad campaigns; we take a look at ten plant-based brands that have taken on the food industry over the past 12 months, causing the public to consider their food purchasing choices through the use of thought-provoking factual information or humor. And, in one case, nudity. 1. allplants, UK This week, vegan meal delivery service allplants has announced it is “taking a stance to break the industry free from ultra-processed foods with wholefood plant power”. The company has erected billboards in the UK comparing the ingredients in an allplants dish to those in a supermarket ready meal, after conducting a survey showing …

Cultivated Meat

“Regulatory Milestone” as GOOD Meat Receives Approval for Serum-Free Cell Growth Media

January 18, 2023

GOOD Meat, Eat Just’s cultivated meat division, has become the first producer worldwide to receive regulatory approval for the use of serum-free cell growth media in cultivated products. To date, most cultivated meat producers have used fetal bovine serum to grow their cells. However, the serum is expensive, of inconsistent quality, and comes with ethical issues. GOOD Meat believes that the use of serum-free media will make cultivated meat production more scalable, efficient, and sustainable, along with reducing costs. Regulatory approval has been granted by the Singapore Food Agency, which previously made history when it approved GOOD Meat’s cultivated chicken nuggets for sale in late 2020. A year later, cultivated chicken breasts were also approved. For the time being, GOOD Meat remains the only brand …

Topics:Serum-free growth media

Eat Just’s GOOD Meat Reveals World’s First Butchery to Sell Cultivated Meat

December 8, 2022December 8, 2022

GOOD Meat, the cultivated meat arm of Eat Just, Inc., announces that Singapore’s Huber’s Butchery will become the first butchery in the world to sell and serve cultivated meat. From today to this Saturday 10th Dec, selected guests will be invited to taste the dishes made with cultivated chicken which will be available starting in January for in-restaurant dining by reservation. At time of publication, GOOD Meat is the only producer of cultivated chicken with the ability to sell to consumers, though the recent greenlighting of UPSIDE Meat’s product will likely signal further regulatory approvals around the world. “Offering this new approach to making meat at a butchery is another historic moment in the long road to making our food system more delicious and sustainable. …

Topics:Chicken

Image courtesy Jennifer Stojkovic

Cultivated Meat

My Experience at the Historic GOOD Meat Cultivated Meat Tasting at COP27

November 18, 2022

Jennifer Stojkovic is the founder of Vegan Women Summit, the author of The Future of Food is Female, and General Partner of Joyful Ventures.

Topics:Chicken

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Cultivated Meat

Eat Just to Unveil New Iteration of GOOD Meat Cultivated Chicken at COP27

November 7, 2022

GOOD Meat, the cultivated meat division of Eat Just Inc, most famous for its pioneering egg product JUST Egg, announces it will launch a new version of its cultivated chicken at COP27. New to the conference this year are three dedicated spaces for food system dialogue: the Food and Agriculture Pavilion, the Food4Climate Pavilion and the Food Systems Pavilion. GOOD Meat will showcase a new version of its chicken produced from cells for the first time outside of Singapore, where it debuted nearly two years ago, at a series of events for media, ministerial guests and civil society representatives from Saturday 12 November to Monday 14 November. “We hope that our guests at COP27 will find their cultured chicken dishes both delicious and thought-provoking, and …

Topics:Chicken

GOOD Meat Largest Cultivated Meat Facility

©Eat Just

Investments & Finance

Eat Just Receives $25M For China Expansion From Alibaba-Linked C2

August 18, 2022

Eat Just announced a $25 million investment and strategic partnership with Alibaba Group-linked private equity firm C2 Capital Partners (C2). The funding is set to support Eat Just’s expansion plans in China and follows the inclusion of cultivated meat in China’s Five-Year Agricultural Plan. C2 was founded in 2018 to offer operational assistance and expansion funding to businesses looking to expand in China. The Alibaba Group is the company’s principal investor. This is C2’s first investment and partnership in the alternative protein market, and the alliance now supports Eat Just’s go-to-market plans, sales, branding, consumer insights, hiring approach, and regulatory approach in China. Eat Just’s milestones in China JUST Egg, a well-known plant-based egg brand from Eat Just, was introduced to the Chinese market in …

Company News

JUST Egg’s Popular Liquid Egg Has Achieved Price Parity with Chicken Eggs

August 16, 2022

Food tech leader Eat JUST reveals its best-selling JUST Egg has achieved price parity with premium chicken eggs, reports Food Navigator-USA. According to company data, the price for a 12 oz bottle of liquid JUST Egg has dropped to $3.99, about the same as the average cost of a premium 12-count chicken egg product. Data from the past three years shows the price gap between JUST Egg and its competitors has continued to narrow, especially as the cost of chicken eggs surged over the past year. Since 2021, average retail egg prices have climbed a staggering 51% as the industry battles historic inflation and a major avian flu outbreak. Comparatively, JUST Egg’s prices have remained stable as the brand consistently worked to reduce its prices …

Topics:Chicken

Fairs & Events

JUST Egg’s ‘Good Eggs Tour’ is Bringing Better Vegan Options to Summer Music Festivals

August 3, 2022August 2, 2022

This summer, food tech leader Eat JUST launched its first large-scale marketing tour for JUST Eggs. Taking place at festivals across the US, Eat Just says the tour is bringing much-needed plant-based options to major events such as Bonnaroo, Broccoli City, and the Electric Daisy Carnival. Feeding the masses Organized by Adrian Santos, JUST Egg’s Director of Field Marketing, The Really Good Eggs Tour was created to get “millions of eggs in as many mouths as possible in 2022”, Santos told BizBash. The brand’s vibrant Just Egg Food Studio installation features LED lights and a moving conveyor belt offering sample egg sandwiches. On the inside, the company demonstrates how it creates its top-selling vegan egg products using mung beans and supplies festivalgoers with plenty of …

Topics:music

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Cultivated, Cell-Cultured & Biotechnology

In Historic Move, GOOD Meat Signs with ABEC to Produce 30M Pounds of Cultivated Meat Each Year

May 25, 2022May 25, 2022

GOOD Meat, a subsidiary of food tech brand Eat Just, announces it has entered an exclusive seven-year agreement with biotech manufacturer ABEC, Inc. to design, engineer and build the world’s largest known bioreactors for culturing avian and mammalian cells. GOOD Meat’s large-scale cultivated meat complex will consist of ten 250,000-liter bioreactors and will be located in the US. Once fully operational, it will be capable of producing up to 30 million pounds of cultivated meat, beginning with beef and chicken, which it plans to distribute to customers across the US. Singapore strength ABEC is also manufacturing bioreactors for GOOD Meat’s headquarters in Alameda, CA (scheduled to be operational in Q4 of 2022) and for one of the brand’s facilities in Singapore (operational in Q1 of …

Topics:Beef bioreactors Chicken

©Eat Just

Marketing & Media

JUST Egg Launches New Ads Featuring Serena Williams and Jake Gyllenhaal

May 24, 2022May 24, 2022

Food tech leader Eat Just announces a new JUST Eggs ad campaign featuring tennis superstar Serena Williams and actor Jake Gyllenhaal, who are both investors in the brand. The ads will air in major markets like Chicago, Los Angeles and New York City and are part of a larger campaign that will include billboards and extensive social media promotions. Intended to poke fun at elite celebrity lifestyles, the ads are narrated by actor JB Smoove and show Williams and Gyllenhaal in different settings – Williams surrounded by experts who plan her day moment-by-moment and cook a perfect JUST Egg sandwich, while Gyllenhaal scrambles a pan of JUST Egg before resuming an exotic workout. The ads aim to show that everyone, famous or not, can enjoy …

Topics:Serena Williams

Cultivated Meat

Eat Just & ADM Announce “First-of-its-Kind” Partnership to Accelerate GOOD Meat Cultivated Chicken

May 17, 2022May 17, 2022

Eat Just, the US food tech leader, has entered into a joint development agreement with agrifoods giant Archer Daniels Midland (ADM) to accelerate production in the GOOD Meat cultivated division. The partnership marks ADM’s first strategic partnership of its kind in the cultivated meat sector, as the US multinational food corporation continues to diversify in the alt protein sector. Eat Just, famous for its JUST Egg brand, started its GOOD Meat division in 2017 and became the first in the world to sell its cultivated chicken to diners, as well as becoming the most funded company in the emerging industry. The company states its first-of-its-kind partnership with ADM highlights how startups like Eat Just can work with established industry leaders to reach their joint mission …

Topics:Chicken

©Eat Just

Egg Alternatives

JUST Egg Approved By European Commission, Will Launch in Europe This Year

April 5, 2022

Eat Just, Inc. announces today that its mung bean protein — the key ingredient in global phenomenon JUST Egg — has received approval from the European Commission, paving the way for a European launch in Q4 of this year. JUST Egg is the fastest growing egg brand in the USA and also retails across Canada, Singapore, South Korea, South Africa, Hong Kong and China. In October of last year, the protein was initially passed by the European Food Safety Authority (EFSA) which determined mung bean protein to be safe under novel food requirements. CEO Josh Tetrick commented at the time: “Bringing JUST Egg to Europe, and to millions of consumers who are choosing a healthier, more sustainable approach to eating, will be one of the most important milestones …

©Eat Just

Egg Alternatives

Eat Just to Open Largest Alt Protein Factory in Singapore

March 21, 2022

Eat Just, the US alt protein innovator, has announced the start of construction on what it claims will be the largest plant-protein factory in Singapore. To be functional within two years, the new facility will house JUST Egg operations in the Asian alt protein epicenter of Singapore. The new Eat Just factory will produce thousands of tonnes of alt protein every year, strengthening Singapore’s food security – a key government initiative for the state’s government. The new facility is the result of a $120 million investment, with backers including Proterra Asia, and will primarily produce Eat Just’s mung bean-based egg products. California-based Eat Just has placed a heavy focus on its operations in Singapore, as it became the first nation to grant regulatory approval for …

The vegconomist-newsletterinformation for decision-makers

The vegconomist-newsletter
information for decision-makers