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☆ Jaguar Land Rover's VC arm backed a $2 million round in plant-based leather startup Uncaged Innovations after seeing this 11-slide pitch deck
▼ + stars: | 2023-06-02 | by ( Tasmin Lockwood | ) www.businessinsider.com time to read: +3 min

Biotech startup Uncaged is mimicking the characteristics of traditional leather but using plants. Uncaged just nabbed $2 million from Jaguar Land Rover's investment arm using this pitch deck. A startup creating animal- and plastic-free leather just netted $2 million in a pre-seed round that was backed by Jaguar Land Rover's investment arm InMotion Ventures. US biotech company Uncaged Innovations, founded in 2020, mimics the characteristics of skin proteins with plants. Uncaged Innovations is taking a "two-pronged approach" by serving the fashion and automobile industries.

Persons: Stephanie Downs, Xiaokun Wang, Johns Hopkins, Tesla, Downs, VegInvest, Alwyn Capital Organizations: Biotech, Land, Jaguar Land, InMotion Ventures, Uncaged Innovations, Downs, Brands Locations: York

☆ Steakholder Foods and Umami Meats have teamed up to create the world's first 3D-printed cultivated fish fillet
▼ + stars: | 2023-05-31 | by ( Michelle Cohan | ) edition.cnn.com time to read: +6 min

A “Star Trek“-like, food-on-demand 3D printer has just served up a real, cultivated fish fillet for the first time. Steakholder Foods, a startup based in Israel, produced the 3D-printed cut of grouper – “a significant milestone in the food industry,” says Arik Kaufman, CEO of Steakholder Foods. Chicken nuggets from Steakholder Foods, pictured, are considered a hybrid product, containing both plant-based and cultured ingredients. At the time of writing, Singapore is the only country in the world where cultivated meat products are commercially available. “One way is to create hybrid products, so something that (combines) cultivated meat with plant-based meat or conventional meat,” Block tells CNN.

Persons: ”, Arik Kaufman, Mihir Pershad, ” Kaufman, we’ve, Orit Goldman, Liz Specht, Davis, Ronen Mangan, David Block, GFI’s Specht Organizations: CNN, Steakholder Foods, Good Food Institute, UN, of California, NASA, Foods, Food and Drug Administration, FDA, UC Davis, Consortium Locations: Israel, Singapore, bioreactors, California

☆ This company could take lab-grown meat mainstream thanks to a green light from the FDA
▼ + stars: | 2023-05-19 | by ( Natasha Piñon | ) www.cnbc.com time to read: +14 min

Upside Foods' pivotal moment also comes at a key moment in the alternative meat industry. The cultivated-meat industry could have a wider consumer base than previously introduced alternative meat products, because unlike plant-based meats, it's "real" meat — minus the slaughtered animals. And, accordingly, some traditional meat companies have expressed interest in the burgeoning cultivated-meat industry, which one day could become a competitor. The cultivated-meat industry will need a similar boost if it's ever going to become a grocery store staple, Swartz said. The FDA's clearance was a voluntary premarket consultation, which means the agency has no further questions about the safety of Upside's products.

☆ Beyond Meat keeps losses in check with cost cuts; shares rise
▼ + stars: | 2023-05-10 | by ( ) www.reuters.com time to read: +1 min

May 10 (Reuters) - Beyond Meat (BYND.O) reported upbeat quarterly results on Wednesday as the plant-based meat company benefited from easing supply chain pressures and cost controls, sending its shares up 9% in extended trading. However, the company said most markets and channels were negatively impacted by continued softness in demand in the plant-based meat category as inflation-hit consumers tighten their purse strings. Total operating expenses in the first quarter fell to $63.9 million, from $97.8 million a year earlier. Analysts on average expected the company to post a loss of $1.01 cents per share, as per Refinitiv IBES data. Net revenue fell 15.7% to $92.2 million in the first quarter but beat expectations of $90.8 million.

☆ Tyson Foods to eliminate 10% of corporate jobs - memo
▼ + stars: | 2023-04-26 | by ( Tom Polansek | ) www.reuters.com time to read: +2 min

CHICAGO (Reuters) - Tyson Foods Inc will eliminate about 10% of corporate jobs and 15% of senior leadership roles, Chief Executive Donnie King told employees on Wednesday. FILE PHOTO: The logo of Tyson Foods is seen in Davos, Switzerland, May 22, 2022. The eliminated roles in senior leadership are mostly vice presidents and senior vice presidents, a company spokesperson said. Some corporate employees already left the company after Tyson said in October it was relocating all corporate jobs to its headquarters in Springdale, Arkansas. However, the 10% reduction in corporate roles is not related to the relocation, a Tyson spokesperson said.

☆ Tyson Foods to eliminate 10% of corporate jobs -memo
▼ + stars: | 2023-04-26 | by ( Tom Polansek | ) www.reuters.com time to read: +2 min

CHICAGO, April 26 (Reuters) - Tyson Foods Inc (TSN.N) will eliminate about 10% of corporate jobs and 15% of senior leadership roles, Chief Executive Donnie King told employees on Wednesday. Discussions with most affected employees are slated to take place this week, King said in a memo to employees seen by Reuters. The eliminated roles in senior leadership are mostly vice presidents and senior vice presidents, a company spokesperson said. Some corporate employees already left the company after Tyson said in October it was relocating all corporate jobs to its headquarters in Springdale, Arkansas. However, the 10% reduction in corporate roles is not related to the relocation, a Tyson spokesperson said.

April 12 (Reuters) - Motorcycle maker Harley-Davidson Inc (HOG.N) said on Wednesday Chief Financial Officer Gina Goetter was leaving the company at the end of April, and toymaker Hasbro Inc (HAS.O) said she would take over as its finance chief. Harley issued a statement saying that Vice President, Treasurer David Viney will serve as interim CFO after Goetter's departure on April 28. Shares of the company were down 2.8% in extended trading after falling more than 6% on Wednesday. After cutting hundreds of jobs in 2020, Harley has either beaten or met Wall Street earnings forecasts in recent years, while navigating high inflation and supply chain constraints. Hasbro said Goetter will assume the role as CFO on May 18, succeeding Deborah Thomas at the company that makes Transformers action figures.

April 12 (Reuters) - Motorcycle maker Harley-Davidson Inc (HOG.N) said on Wednesday Chief Financial Officer Gina Goetter was leaving the company at the end of April to pursue another job. The Milwaukee-based company said Vice President David Viney will take over as interim CFO after Goetter's departure on April 28. Shares of the company fell 6.3% in extended trading. Before joining Harley, Goetter held top finance roles at meat company Tyson Foods Inc (TSN.N) and cereal maker General Mills Inc. (GIS.N)The company did not respond to a request for additional information. After cutting hundreds of jobs in 2020, Harley has either beaten or met Wall Street earnings forecasts in recent years.

☆ The 'mammoth meatball' grown in a lab probably doesn't taste like woolly mammoth at all
▼ + stars: | 2023-04-11 | by ( Morgan Mcfall-Johnsen | Kelsey Vlamis | ) www.businessinsider.com time to read: +7 min

It probably doesn't taste like woolly mammoth, a meat specialist and mammoth DNA researcher said. The Belgian startup Paleo says it added woolly mammoth myoglobin to a plant-based burger. The mammoth meatball doesn't have either of those elements from woolly mammoth. Mammoth myoglobin doesn't necessarily bring mammoth flavorThough he didn't taste it, Ryall said everyone could smell the meatball while it was cooking. So why make a mammoth meatball that doesn't taste like mammoth?

☆ A company says it added mammoth DNA to plant-based burgers and that they tasted much more 'intense' and 'meatier' than the cow version
▼ + stars: | 2023-04-07 | by ( Kelsey Vlamis | Morgan Mcfall-Johnsen | ) www.businessinsider.com time to read: +5 min

A Belgian startup says it added woolly mammoth DNA to a plant-based burger. The mammoth myoglobin gave it a more intense taste and aroma, and a richer color, the CEO said. But it's unclear when, if ever, mammoth protein will make it to grocery store shelves. The Belgian startup Paleo says it added woolly mammoth protein to a plant-based burger — and that the result was more intense than with cow. Sanctorum said the company added the mammoth protein to several different versions of plant-based burgers and tasted it.

☆ A company made volleyball-sized meatballs with mammoth DNA, but no one tasted them because humans could be allergic to the 5,000-year-old protein
▼ + stars: | 2023-03-29 | by ( Kelsey Vlamis | Chris Panella | ) www.businessinsider.com time to read: +2 min

An Australian cultured meat firm made a giant meatball with mammoth DNA and lab-made lamb. Australian cultured meat company Vow has engineered a giant meatball made with a surprising protein: woolly mammoth DNA. But no one has tasted it because humans could be allergic to the 5,000-year-old protein. The meatball was made from extinct woolly mammoth DNA and fragments of African elephant DNA, a close relative to the mammoth, according to a press release from Vow. James Ryall, chief scientific officer at Vow, told CNN it's unclear if humans can stomach mammoth meat.

[1/3] A meatball made from flesh cultivated using the DNA of an extinct woolly mammoth is presented at NEMO Science Museum created by a cultured meat company, in Amsterdam, Netherlands March 28, 2023. REUTERS/Piroschka van de WouwAMSTERDAM, March 28 (Reuters) - A giant meatball made from flesh cultivated using the DNA of an extinct woolly mammoth was unveiled on Tuesday at Nemo, a science museum in the Netherlands. The meatball was made of sheep cells inserted with a singular mammoth gene called myoglobin. While creating cultured meat usually means using blood of a dead calf, Vow used an alternative, meaning no animals were killed in the making of the mammoth meatball. Vow hopes to put cultured meat on the map in the European Union, a market where such meat as food is not regulated yet.

Lula departs for China this weekend, but many executives and lobby groups have traveled ahead of the president, government officials said. JBS representatives said the company aims to bolster commercial ties with China, a key trading partner. In a statement, ABPA said they are seeking recognition from Beijing that Rio Grande do Sul and Parana are free of foot-and-mouth disease without vaccination, in order to export pork with bones and pork offal. China buys 44% of Brazil's pork exports by volume and around 14% of its chicken exports, according to ABPA data for the first two months of 2023. Some 62% of Brazil's beef exports went to China last year.

[1/2] An undated handout photo from Eat Just, Inc shows a GOOD Meat takeout meal product in Singapore. Eat Just, Inc/Handout via REUTERSWASHINGTON, March 21 (Reuters) - California-based cultivated meat company GOOD Meat has received clearance from the U.S. Food and Drug Administration to bring its lab-grown chicken to market, according to agency documents released on Tuesday. GOOD Meat's chicken is the second cultivated meat product to receive a "no-questions" letter from the FDA after California-based UPSIDE Foods got the regulator's green light for its cultivated chicken breast last November. GOOD Meat plans to initially sell its product at restaurants owned by chef José Andrés, known for his work on global food security. Cultivated meat companies say the product provides environmental benefits because it could cut down on the 14.5% of the world's greenhouse gas emissions derived from livestock.

☆ Tyson Foods to shut two US chicken plants with nearly 1,700 workers
▼ + stars: | 2023-03-14 | by ( Tom Polansek | ) www.reuters.com time to read: +3 min

CHICAGO, March 14 (Reuters) - Tyson Foods Inc (TSN.N) will close two U.S. chicken plants with almost 1,700 employees on May 12, the company said on Tuesday. Tyson will shut a plant in Glen Allen, Virginia, with 692 employees and a plant in Van Buren, Arkansas, with 969 employees, according to a statement. "The current scale and inability to economically improve operations has led to the difficult decision to close the facilities," Tyson said. Shuttering plants is difficult but justified as Tyson seeks to improve performance, said Arun Sundaram, senior equity analyst at CFRA Research. Tyson had about 124,000 U.S. employees as of Oct. 1, including 118,000 workers at non-corporate sites like meat plants, regulatory filings show.

☆ Tyson Foods to shut two U.S. chicken plants with nearly 1,700 workers
▼ + stars: | 2023-03-14 | by ( Tom Polansek | ) www.reuters.com time to read: +1 min

CHICAGO, March 14 (Reuters) - Tyson Foods Inc (TSN.N) will close two U.S. chicken plants with almost 1,700 employees on May 12, the company said on Tuesday. The closures show that the biggest U.S. meat company by sales is still trying to figure out how to improve its chicken segment that has struggled for years. Tyson Foods will shut a plant in Glen Allen, Virginia, with 692 employees and a plant in Van Buren, Arkansas, with 969 employees, according to a statement. "The current scale and inability to economically improve operations has led to the difficult decision to close the facilities," the company said. The United Food and Commercial Workers union, which represents employees at Tyson's plant in Virginia, slammed the decision to close the facility.

☆ Stocks making the biggest moves after hours: Block, Carvana, Boeing and more
▼ + stars: | 2023-02-23 | by ( Sarah Min | ) www.cnbc.com time to read: +2 min

Carvana generated revenue of $2.84 billion, lower than the anticipated $3.1 billion. Block — The mobile payment stock climbed 6.5% after Block reported better-than-expected revenue in its fourth-quarter results. The company posted revenue of $4.65 billion, beating Refinitiv consensus estimates for $4.61 billion. However, Block missed estimates, posting adjusted earnings of 22 cents per share compared to expectations for 30 cents per share. The media and entertainment conglomerate reported a loss of 86 cents per share on revenue of $11.01 billion.

But to reach its ultimate destination - supermarket shelves - cultivated meat faces big obstacles, five executives told Reuters. California-based cultivated meat company GOOD Meat already has an application pending with the FDA, which has not been previously reported. Regulatory approval is just the first hurdle for making cultivated meat accessible to a broad swath of consumers, executives at UPSIDE, Mosa Meat, Believer Meats, and GOOD Meat told Reuters. But it will take hundreds of millions of dollars for GOOD Meat, for example, to build bioreactors of the size needed to make its meat at scale, Tetrick said. But cultivated meat companies have the advantage that they can claim their product is real meat, Tetrick said.

☆ Layoffs and declining investments in foodtech aren't spooking these new VCs. Here's where they're looking to make bets in 2023.
▼ + stars: | 2022-12-25 | by ( Nancy Luna | ) www.businessinsider.com time to read: +5 min

VC investment in restaurant tech firms, from ghost kitchens to delivery robots, slowed in the third quarter, according to Pitchbook. Despite an investment slowdown in foodtech, Crowder and Larisey believe there are massive opportunities in the sector. Another new foodtech VC firm, Rethink Food, is also looking differently at food innovation. Co-founder Shane Larisey says Redstick Ventures is looking at ag-tech companies that help increase yields in the field. Crowder and Larisey quickly point out that they are not interested in investing in marketplace meal delivery companies, which have yet to show profitability.

☆ The foodtech falloff isn't spooking these new VCs. Here's where they're looking to make bets in 2023.
▼ + stars: | 2022-12-21 | by ( Nancy Luna | ) www.businessinsider.com time to read: +5 min

VC investment in restaurant tech firms, from ghost kitchens to delivery robots, slowed in the third quarter, according to Pitchbook. But instead of leaning into kiosks and QR codes, Redstick Ventures and Rethink Food are entering the space with a different investing game plan. Despite an investment slowdown in foodtech, Crowder and Larisey believe there are massive opportunities in the sector. Another new foodtech VC firm, Rethink Food, is also looking differently at food innovation. Rethink Food"Our most recent investment is one of the most disruptive and exciting, and it's in cultured meat," said Rini Greenfield, a founding managing partner at Rethink Food.

☆ Impossible Foods founder Pat Brown is taking a leave of absence less than 2 months after launching an innovation arm at the plant-based meat company
▼ + stars: | 2022-11-17 | by ( Alex Bitter | ) www.businessinsider.com time to read: +2 min

Impossible Foods Founder Pat Brown is taking a leave of absence from the company. Brown stepped down from the top job in April to make way for Peter McGuinness, a Chobani veteran. Impossible Foods founder Pat Brown is taking a leave of absence from the plant-based meat company, Insider has learned. Brown's leave started this week, according to an email sent to staff and shared with Insider by two employees. Impossible employees have told Insider that McGuinness has brought more business experience to the CEO role.

☆ Tyson Foods ends COVID-19 vaccine mandate for employees
▼ + stars: | 2022-11-16 | by ( Tom Polansek | ) www.reuters.com time to read: +2 min

The requirement "generally improved our ability to operate our business effectively in fiscal 2022," the report said. America's largest meatpacking union, the United Food and Commercial Workers International Union, said it negotiated an agreement with Arkansas-based Tyson to end the mandate. He added that Tyson kept other safety protocols like requiring workers to self-screen for COVID-19 symptoms. Some Tyson workers remain worried about catching COVID-19 in chicken plants, said Magaly Licolli, director of Venceremos, an organization that advocates for poultry workers in Arkansas. "There is still the pandemic," said Licolli, who has criticized Tyson for not protecting plant employees.

☆ Tyson Foods board oversees review of finance chief's arrest
▼ + stars: | 2022-11-14 | by ( ) www.reuters.com time to read: +1 min

CHICAGO, Nov 14 (Reuters) - Tyson Foods' board of directors is overseeing a "thorough review" of the recent arrest of Chief Financial Officer John R. Tyson on charges that he trespassed at a young woman's house while intoxicated, Chief Executive Officer Donnie King said on Monday. John R. Tyson, great-grandson of the meat company's founder, apologized during a quarterly earnings call for his Nov. 6 arrest for criminal trespassing and public intoxication in Fayetteville, Arkansas. "I'm embarrassed and I want to let you know that I take full responsibility for my action," said Tyson, 32. John R. Tyson is the son of the chairman of the company’s board of directors, John H. Tyson. The board is independent, King told analysts on the earnings call.

☆ Tyson Foods CFO Arrested After Authorities Say He Fell Asleep in Wrong Home
▼ + stars: | 2022-11-07 | by ( Patrick Thomas | ) www.wsj.com time to read: 1 min

John R. Tyson was promoted to chief financial officer for the $24 billion meat company in September. John R. Tyson , Tyson Foods Inc.’s chief financial officer and son of the meat giant’s chairman, was arrested over the weekend after authorities said he fell asleep in the wrong house. Mr. Tyson, 32 years old, was found asleep in a woman’s bed at her home in Fayetteville, Ark., on Sunday morning, according to a preliminary arrest report filed by the Fayetteville Police Department. He was arrested for criminal trespass and public intoxication, according to the report, and booked at the Washington County Detention Center. He was released Sunday evening.

☆ Tyson Foods CFO arrested for public intoxication, trespassing
▼ + stars: | 2022-11-07 | by ( ) www.reuters.com time to read: +1 min

CHICAGO, Nov 7 (Reuters) - Tyson Foods (TSN.N) Chief Financial Officer John R. Tyson, 32, was arrested for criminal trespassing and public intoxication in Fayetteville, Arkansas, on Sunday, according to a police report. The $24 billion company named John R. Tyson, great-grandson of its founder, CFO in September. John R. Tyson, who was previously the company's chief sustainability officer, could not immediately be reached for comment. Tyson Foods reports quarterly earnings on Nov. 14. John R. Tyson was booked at the Washington County detention center and released Sunday evening.

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