As part of a strategic move aligned with its Liquidity Improvement Plan, Benson Hill, a food tech company specializing in plant genetics, has finalized the transfer of ownership for its soybean crush facility in Seymour, Indiana. White River Soy Processing, LLC, is the acquiring entity, with the agreement amounting to approximately $36 million in total gross revenue. The Liquidity Improvement Plan was initiated after Benson Hill received a non-compliance notification from the New York Stock Exchange after the company’s stock had traded below $1 per share for a consecutive 30-day period. The stock price has experienced a notable decline since August, dropping to as low as $0.15 per share on October 31. As of today, the stock has shown some recovery, reaching $0.40 per share. …
The Food and Agriculture Organization of the United Nations (FAO) recently launched a project in Ghana to help farmers increase their soybean production, improve their post-harvest technologies, and develop land. The initiative, funded by the Government of Japan, will receive US$600,000 to strengthen the legume’s entire value chain and address the country’s food and nutrition security challenges. The project is part of One Country, One Priority Product (OCOP), an FAO initiative to help African countries develop sustainable and environmentally friendly value chains for specific agricultural products. Dr. Yurdi Yasmi, regional representative of the FAO in Ghana, said that alongside the project, the FAO would raise awareness of the consumption of soybeans and their potential to reduce malnutrition, as reported by The B&FT Online. “I appreciate the …
US biotech startup Amfora and McClintock LLC, an AI startup focused on agriculture, have announced a strategic collaboration to improve the protein content of certain varieties of soy and their crops’ yield. The collaboration aims to create a scalable, low-cost, high-density source of plant protein ingredients for the alt protein sector by combining each company’s specialized science and tools. “Our protein-rich crops will enable the manufacturers of plant-based meat, dairy, and seafood to meet the growing consumer demand for their products at lower costs while allowing them to take meaningful steps to address the climate crisis,” said Dr. Michael Lassner, CSO of Amfora. “Together, we are working to develop soybean varieties that not only provide high yields but also meet the increasing demand for protein-rich crops …
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Global agribusiness firm Bunge announces it has begun construction on a new $500M soybean processing facility in Morristown, Indiana. Opening in mid-2025, the “fully integrated” plant will produce soy protein concentrates and textured soy protein concentrates for the plant-based foods market. The new facility is adjacent to Bunge’s existing soybean processing plant in Morristown, which focuses on processing soy for animal feed and byproducts like soybean oil. Once operational, the new plant will employ 70 workers and be able to process 4.5 million bushels of soybeans every year. According to Aaron Buettner, president of food solutions at Bunge, the success of Bunge’s first processing plant influenced the company to re-invest in the Morristown community. “It’s really the relationship that we have with community and the …
LSDH Group announces that its soy plant in France is now fully operational. The new plant is part of a facility owned by LSDH in partnership with Sofiprotéol, an investment company dedicated to the production of plant-based beverages. LSDH states that the company invested €32 million as part of its ambition to be a key player in France’s plant-based beverage ingredient market. The plant, with a surface area of 9,000 square meters, will have the capability to offer local soy ingredients that can be used in plant-based yogurts, ice creams, and cheeses. The business was initially established as a dairy company and now employs 2,000 staff. Its products are sold mainly as store brands in major supermarket chains around France and reportedly generated a turnover …
The story of soy is one of great success. The humble bean can be processed into an array of high-protein ingredients that can be used to create delicious and nutritious foods that look, taste, feel, and smell like traditional animal-based meat and dairy products. Currently the most developed plant-based protein segment, the soy protein ingredients sector was worth an estimated US$7.7 billion in 2022. By 2027, it is projected to hit a significant US$10.8 billion, recording a compound annual growth rate (CAGR) of 7%. While soy has seen experienced a number of victories and is predicted to see more, the mighty bean is on the receiving end of some negative information, leading to a growing number of consumers avoiding products that contain soy ingredients. In …
A recent market report finds that meat alternatives in Japan have become increasingly mainstream, driven partly by a shift in consciousness since the pandemic, as well as a high acceptance of soy-based meat. The GlobalData report projects the Japanese market to reach JPY36.3 billion ($373.5 million) by 2026, with a CAGR of 5%. High affinity for soy The upswing is reportedly led by the country’s tendency towards soy-based products, which as we earlier reported, have witnessed a boom over the past two years. Soy-based foods such as soy sauce and miso are deeply ingrained in traditional Japanese culture, as such, meats created from soy are trusted by the Japanese consumer. Nikkei Asia reported in September that despite a 1.5X price increase on soybean crops since …
Leading US tofu brand Nasoya is set to reveal a new variety of its Plantspired Toss’ables. The product, which consists of bite-sized, pre-baked tofu bites marinated in Korean sweet chili sauce, will launch next year. Along with the rest of Nasoya’s range, the new Toss’ables will be showcased at this year’s Global Produce & Floral Show in Orlando, Florida. The company will be at Booth #1905 at the event, which takes place from October 27-29. Plantspired Steak One of Nasoya’s most popular products is its Korean BBQ Plantspired Steak, which launched at US grocery stores this spring. The steak alternative has gained considerable traction and is now available at over 4,000 locations nationwide, with sales up 800% since its initial launch. It is also available …
The United Soybean Board (USB) announced it has awarded $1.1M to the Purdue University Food Entrepreneurship and Manufacturing Institute (FEMI), in partnership with the University of Arkansas and the University of Missouri. The joint project, which launched on Oct. 1st, seeks to build infrastructure and connectivity for small- and medium-scale processing of soy-based value-added products. Co-funded by the Foundation for Food and Agriculture Research, a federal organization focused on addressing key problems in agriculture and food security, the year-long project will be led by Purdue associate professor and FEMI director Dharmendra Mishra. According to Purdue, the project was born out of a national discussion on the soybean value chain. Its work will concentrate on phenotyping for compositional traits in novel value-added applications, trials to eliminate …
A new study conducted by The Plant Based Products Council (PBPC) shows strong consumer awareness and interest in plant-derived products made from renewable materials such as hemp, soy and corn. The findings also show consumers hold more favorable attitudes toward the companies, farmers and policymakers actively involved in sustainability efforts. Among the report’s most significant findings, 71% of American consumers say they consciously think about packaging and products made with plant-based materials when they shop. Consumers also cited recyclability, composability, and the environment as primary motivations for purchasing a plant-made product, while 21% cited inaccessible waste disposable as the top deterrent for purchasing such items. As the 2022 midterms approach, 66% of consumers favor voting for a candidate who has shown support for sustainability initiatives …
This summer, guests flying on Alaska Airlines will be able to select a vegan menu option called the “Soy Meets World”, a salad developed in partnership with Evergreens. “We’re thrilled to offer our guests more healthy and nutritious choices when they fly with us,” said Todd Traynor-Corey, managing director of guest products. “We built our menu thoughtfully to offer more plant-based, vegan and gluten-free options, which include a range of fresh, bright flavors inspired by the West Coast and ingredients that are authentically healthy by nature such as roasted broccoli, crisp romaine and baby lettuce greens, quinoa, fresh fruit and more.” Alaska Airlines also offers the Mediterranean Tapas Pack which is vegan and gluten-free. The development follows similar moves from United Airlines, which now offers …
Plant-based protein company Hodo announces it is launching the All Day Egg Scramble, a prepared egg alternative, in 1,500 retail stores across the US. The new plant-based egg will be available at Whole Food and Natural Grocers nationwide, with Sprouts and other retailers adding the product in coming months. The scramble will also be sold through foodservice. Made from minimally processed ingredients, the All Day Scramble was created to offer consumers a convenient, clean-label alternative to chicken eggs, Hodo says. The product features an authentic egg-y flavor, a fluffy texture and comes ready to heat for toast, stir fries, burritos or any scrambled egg recipes. A higher-protein vegan egg Nutritionally, the new scramble contains as much protein as chicken eggs and 30% more protein than …
Nasoya, a top-selling brand of tofu and plant-based foods, will launch its premium Plantspired Steak in US grocery stores beginning this spring. The plant-based steak, which will initially roll out at Albertsons, Vons and Pavilions stores, first debuted at more than 200 WaBa Grill locations in 2021, in the fast-casual chain’s healthy rice bowls. Made from non-GMO soy, Plantspired Steak offers marinated steak-like strips that are char-grilled over an open flame. Containing 14 grams of protein, the plant-based steak can be quickly warmed and served alone or with an endless variety of dishes such as rice, noodles, soup, salad and veggies. The product is available in a Korean BBQ flavor paired with a sweet and smoky bulgogi sauce, and can be found in the produce …
Benson Hill, a publicly listed company since this September, announces the opening of its Crop Accelerator, a state-of-the-art research facility located near the Company’s St. Louis HQ. The company reports that the Crop Accelerator, designed to provide a more than twenty-fold expansion in testing capacity, is operational ahead of schedule and that its first soybean and yellow pea seeds were planted on September 17. The Crop Accelerator employs 27 staff and is looking to hire more innovators in plant science, data science and food science as it continues its expansion to meet demand for such ingredients, as the plant-based meat market is forecast to reach approximately $140 billion by 2029. The 47,000 square-foot facility features dynamically adaptive Conviron® growth houses and chambers, equipped with multi-channel LEDs, additive CO2, temperature, humidity and …
Germany’s GoodMills Innovation, part of the GoodMills Group, Europe’s leading milling corporation, introduces VITATEX texturates based on wheat, soy and peas, for fish and meat substitute products. The company states that the texturates are perfect for alt seafood products such as plant-based tuna, fish fingers, pan- or deep-fried fish, and are optimally suited for the frozen food sector. “Whether it’s fish & chips, fish fingers or fishcakes, all of these specialities can be readily converted into vegan form with VITATEX®”, says the Hamburg based firm. As well as the applications in seafood alternatives, the texturates can be applied to alt meat products such as vegan patties, meatballs, Bolognese sauce, chicken nuggets, Vienna sausages, or schnitzels. After working with wheat texturates for around a decade, GoodMills …
California’s WaBa Grill, one of the USA’s leading fast-casual chains, announces the launch of Plantspired Steak at all of its almost 200 locations across California and Arizona, in partnership with Nasoya Foods USA, owned by Korea’s Pulmuone since 2016. Pulmuone entered the alternative meat category this March with the Plantspired range which began with 20 new products in its domestic Korean market as well as in China, Japan and in the USA. The collaboration marks the first time Nasoya has worked with a major restaurant chain. The plant-based steak is marinated with Asian style flavours then grilled and served with WaBa Grill’s signature WaBa Sauce, and is according to the chain “conveniently priced”. “Today’s launch is significant for WaBa Grill as the continued evolution of …
Benson Hill plans to go public in a merger with a special-purpose acquisition company (SPAC) in a deal valuing the St. Louis-based plant-tech firm at $2 billion. Benson Hill is developing gene-edited and selectively bred versions of crops used in alt protein products, with the deal’s expected $625 million capital raise accelerating Benson Hill’s ability to drive down plant-based food costs. With the commercial production of its ultrahigh-protein soybean and yellow-pea protein concentrate set to begin next year, Benson Hill says it can develop soy and pea crop breeds that mature faster, have higher protein content, or taste better, thus saving time and resources in the production of alt protein products. SPACs are shell companies that raise funds through an IPO to take a private …
A guest post from Future Grocery Shopping
The German Plant-based Milk Market
Compared to other plant-based products such as cheese and meat, plant-based milk alternatives have been around for some time and many consumers are already well familiar with milk alternatives like soy and coconut milk. In Germany 93% of consumers already buy plant-based milk alternatives, which is higher than in any of the other plant-based product categories.
Bringing plant-based meats that make use of traditional Japanese technology to the world: Somenoya TOFU Co., Ltd. a long-established tofu manufacturer founded in 1862, has launched its first plant-based meat Someat. How does plant-based meat created with traditional techniques inherited from the Edo period look? Somenoya talks to Hiroto from freefrom Inc about the story behind the scenes.
From January 19 through March 19, the United Soybean Board (USB) is teaming up with partners from Soylent and DuPont Nutrition & Biosciences that will be participating in a pilot program to market their products and ingredients as being made with Sustainably Grown U.S. Soy.
