Startups, Accelerators & Incubators

Greenwise – Russian Startup Expansion in 2020

Russian company Greenwise has announced that it plans to expand its plant-based meat product line and launch into the European Market this year.

Greenwise will begin talks with four major German retailers this March. This will be followed with retailers in Austria and Switzerland, Russian media outlet Meduza reported.

Meduza also reported that Greenwise plans to overtake Beyond Meat, which appeared on Russian shelves and restaurants last autumn, with vegan burger patties that are both cheaper and made with fewer ingredients. The expansion in product line also includes soy and gluten-free cold cuts and is expected to add plant-based ham and meatballs later this year.

Greenwise estimates its 2019 earnings at 8 million rubles ($128,000). It forecasts its 2020 earnings to reach 60 million rubles ($969,000). Greenwise is strengthening its position In the Russian market as competition is already underway. As well as the recent introduction from Beyond Meat to consumers, there was news last autumn that Food Tech company that The Ochakov Food Ingredients Plant (OKPI), has successfully produced its first sample of cell-based meat, and that could appear on Russian shelves as soon as 2023, depending on when it is legalized.

Georgy Zhelezny, one of three young entrepreneurs behind the start-up, proudly told Meduza: “We derived a unique high-fibre product that mimics meat. We’re the only ones to produce that in Russia.”

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