Tyson invests in plant-based ‘seafood’ producer New Wave Foods

Tyson Foods has invested in New Wave Foods, a producer of plant-based seafood alternatives, through its Tyson Ventures subsidiary.

Based in San Francisco, New Wave Foods has developed a method to create plant-based shellfish, and plans to have a shrimp alternative ready for foodservice operators in early 2020.

The company’s first product, a plant-based shrimp, is made with sustainably-sourced seaweed and plant protein.

New Wave Foods claims that the plant-based product contains all eight essential amino acids commonly found in meat and fish, and that the product contains no allergens, zero cholesterol and is lower in both calories and salt than real shrimp.

Mary McGovern, CEO of New Wave Foods said: “We worked with the Culinary Institute of America to set the gold standard for this product and then created a plant-based shrimp that has had rave reviews from the thousands of people who have tasted it.

“Our plant-based shrimp cooks and tastes just like the real thing, and it matches the texture, taste, performance and versatility of shrimp fresh from the ocean. The proof is in the overwhelming, positive response we have had to the product.”

Amy Tu, president of Tyson Ventures added: “We’re excited about this investment in the fast-growing segment of the plant-based protein market.

“This continues our focus of identifying and investing in companies with disruptive products and breakthrough technologies related to our core business so we can continue to serve a growing global population.”