Tyson Foods announced its investment in New Wave Foods, which focuses on producing plant-based shellfish, and plans to have a shrimp alternative ready for foodservice operators in early 2020, according to a press release.
The "shrimp" is made with sustainably sourced seaweed, plant protein and has all eight essential amino acids that are found in meats and seafoods. There are zero allergens, no cholesterol and it is lower in calories and salt than fresh shrimp.
“We’re excited about this investment in the fast-growing segment of the plant-based protein market," Amy Tu, president of Tyson Ventures said in a statement. "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."
The company 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," according to New Wave Foods CEO Mary McGovern.
"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," she continued in her statement.
The team tasked with developing the shellfish alternative included leading food scientists and academics.
“Our product is a delicious, one-for-one direct swap for the real thing, and interchangeable in a wide range of recipes,” McGovern said. “It gives chefs and food service operators great menu options while addressing consumers’ growing demand for sustainable choices.”
Tyson Ventures was launched in December 2016, and is focused on investing in promising entrepreneurial food businesses that are pioneering new products or technology.