New Wave PopcornShrimp

© New Wave Foods

Meat- and Fish Alternatives

US Plant-Based Shrimp Firm New Wave Foods Shuts Down Amidst Financial Woes

San Francisco-based New Wave Foods, a plant-based seafood company backed by Tyson Ventures, the venture capital arm of poultry giant Tyson Foods, ceased activities last November and is currently undergoing assignment for the benefit of creditors (a voluntary alternative to formal bankruptcy), as first reported by Alt Meat. According to a general assignment document, New Wave Foods faced financial difficulties and admitted its inability to repay its debts fully. Consequently, the company decided to halt its operations.  Plant-based shrimp for foodservice New Wave Foods manufactured plant-based shrimp for the food service industry. Michelle Wolf and Dominique Barnes established the company in 2015 to disrupt the $9 billion dollar shrimp market with an alternative made with sustainable seaweed and plant proteins. The company planned to develop a range …


New Wave shrimp

©New Wave Foods

Market & Trends

Seaweed Industry Sees Major Growth – Investment Up by 36% to $168M

The seaweed industry saw its number of investment deals double while the amount invested grew by 36% to $168 million in 2021. The new figures show how a vibrant seaweed industry is emerging outside of Asia, with investors taking note of the sustainable future biomass.  The data comes from a new Phyconomy study, showing that the number of new seaweed startups has grown by 50% in the past two years, with Europe having the most active seaweed startup ecosystem – although North American startups find it easier to attract capital, according to the report. Phyconomy is an information portal for the seaweed industry established in 2020 to track the emerging seaweed economy. Other key takeaways from its report include that the midstream of the value …


PopcornShrimp New Wave Foods

©New Wave Foods

Products & Launches

Tyson-Backed New Wave Foods Launches Its Seaweed Based Shrimp in the USA

Following its recent $18M series A round, alternative seafood producer New Wave Foods announces today the official distribution of its plant-based shrimp to foodservice and restaurant companies in the USA. New Wave Shrimp, made from seaweed and plant protein, is New Wave’s first offering, with further plant-based shellfish to follow in 2022 to include lobster, scallops and crab.