The company has recently revealed plans to invest funds into a startup called New Wave Foods. The company is based in Silicon Valley, specializing in the production of alternative shrimp.
The topic of producing plant-based alternatives to meat has recently become quite popular. There are two leaders in the market today - Impossible Foods and Beyond Meat. American startup New Wave Foods is hoping to compete with them and has recently been backed by grocery titan Tyson Foods.
The core products offered by New Wave Foods are alternative shrimp produced from seaweed, plant protein and other ingredients.The popularization of this product will reduce the human impact on the ecosystem. Additionally, the price of ‘alternative shrimp’ is not linked to prices on real shrimp, so there is also an economic justification for promoting the production of artificial meat.
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