twittertopbarlinks_eventstopbarlinks_requesttopbarlinks_archives
Click here for more information about Liqofluxphenometrics515R1
Visit cricatalyst.com!Evodos Separation Technology

Money

New Wave Foods’ sustainable shrimp from red algae

July 24, 2016
AlgaeIndustryMagazine.com

Google’s chef plans to replace animal shrimp with New Wave Foods' sustainable shrimp as soon as production can scale.

Google’s chef plans to replace animal shrimp with New Wave Foods’ sustainable shrimp as soon as production can scale.

San Francisco biotech startup New Wave Foods aims to address the impact of overfishing, bycatch, water pollution, slave labor, an animal death toll in the trillions, and other ills of our unsustainable lust for shrimp…with red algae.

In the lab, New Wave Foods has engineered a product with the same taste, texture, and look as animal shrimp, but with a better nutritional profile, using red algae and other plant-based ingredients. The result is so convincing, and so much more sustainable, Google’s chef will be replacing animal shrimp with it as soon as production can scale.

The company just announced a funding round, led by Efficient Capacity. Additional funding was provided by New Crop Capital, a specialized private venture capital fund that provides early-stage investments to companies that develop or sell plant-based meat, dairy, and egg products.

New Wave Foods founders Dominique Barnes (l) and Michelle Wolf.

New Wave Foods founders Dominique Barnes (l) and Michelle Wolf.

New Wave Foods uses plant-based ingredients, such as red algae, to engineer new edible materials that replicate the taste and texture of fish and shellfish while improving their nutritional profiles. Its first product, which has already been served in Google’s cafeterias, will be sustainable shrimp. Shrimp is the nation’s most popular seafood, currently representing more than a quarter of the four billion pounds of fish and shellfish consumed by Americans annually. For each pound of shrimp caught, up to 15 pounds of other animals, including endangered dolphins, turtles, and sharks, die.

The market for meat analogs is expected to surpass $5 billion by 2020, and in recent years, millions in venture capital has flowed into plant-based alternatives to animal foods.

“The astounding scale of our consumption of sea animals is decimating ocean ecosystems through overfishing, massive death through bycatch, water pollution, carbon emissions, derelict fishing gear, mangrove deforestation, and more,” said New Wave Foods co-founder and CEO Dominique Barnes. “Shrimping is also fraught with human rights abuses and slave labor, so we’re pleased to introduce a product that is better for people, the planet, and animals.”

The current round of investments from Efficient Capacity and New Crop Capital follows investments from SOS Ventures via IndieBio, an accelerator group funding and building biotech startups.

Along with its new funding round, New Wave Foods announced the appointment of John Wiest as COO. Wiest brings more than 15 years of senior management experience in food and consumer products, including animal-based seafood companies, to the company. As an executive and consultant, Wiest has helped dozens of food ventures develop new products, expand distribution channels, and create strategic partnerships.

Co-founder and CEO Dominique Barnes holds a master’s in marine biodiversity and conservation from Scripps Institution of Oceanography, and co-founder and CTO Michelle Wolf holds a bachelor’s in materials science and engineering and a master’s in biomedical engineering. New Wave Foods’ first products are scheduled to reach consumers in Q4 2016.

More Like This…

HOME A.I.M. Archives

Copyright ©2010-2017 AlgaeIndustryMagazine.com. All rights reserved. Permission required to reprint this article in its entirety. Must include copyright statement and live hyperlinks. Contact editorial@algaeindustrymagazine.com. A.I.M. accepts unsolicited manuscripts for consideration, and takes no responsibility for the validity of claims made in submitted editorial.

Visit our 2017 International Reader’s Poll Platinum Sponsors

bigelow mbiolp_link sfcc

From The A.I.M. Archives

— Refresh Page for More Choices
Northwestern University researchers have developed a quantitative tool that might help bring back coral from the brink of extinction. The novel algorithm could help asses...
Natural Icelandic astaxanthin supplier, ArcticFarma, has reached an agreement with a subsidiary of China-based BGG to rename itself in order to avoid market confusion. “B...
Benedict O’Donnell writes in the EU Research and Innovation magazine, Horizon, about research being developed on seaweed as a biological, environmentally friendly, sustai...
In New Zealand is an internationally significant collection of microalgae cultures known as the Cawthron Institute Culture Collection of Microalgae (CICCM). The CICCM was...
In Australia, the New South Wales Deep Green Biotech Hub (DGBH) has been launched as an enabling incubator environment to foster the development of algae as a cost effect...
Karen Phillips writes for deeperblue.com that algae are the alveoli in the ocean lungs of our planet, vitally important to the health of the seas as home, food source, sa...
Dr. Tom Dempster works as a research professor – focusing on strain selection and development, biomass production, algal biofuels and high-value products, and air and was...
Dan Wood, at the University of Connecticut, writes that assistant extension educator of marine aquaculture at UConn’s Avery Point Campus, Anoushka Concepcion, spoke about...
For algal biofuels to compete with petroleum, farming algae has to become less expensive. Toward that goal, Sandia National Laboratories is testing strains of algae for r...
The genome of the fuel-producing green microalga Botryococcus braunii has been sequenced by a team of researchers led by a group at Texas A&M AgriLife Research. The r...
PhysOrg reports that recent efforts have been made by researchers in Japan to reduce the cost of biodiesel production by using pulsed electric fields (PEF) to extract hyd...
Marlene Cimons, nexusmedianews.com reports that researchers at the University of California San Diego and Sapphire Energy have successfully grown a genetically engineered...