Hormel Foods Corporation, a global branded food company, announced its venturing company, 199 Ventures, has entered into an exclusive partnership with The Better Meat Co. to bring new mycoprotein – produced by potato-based fermentation – and plant-based protein products to the marketplace.
199 Ventures was formed in 2019 by Hormel Foods to be the company’s food-forward incubator, which includes investing in companies that align with Hormel Foods’ growth strategies.
The two companies will work together to develop the next generation of great-tasting, wholesome, and sustainable alternative protein products with The Better Meat Co.’s innovative Rhiza mycoprotein ingredient.
Produced via a potato-based fermentation pioneered by The Better Meat Co., Rhiza is an all-natural whole food mycoprotein with a remarkable meat-like texture. Boasting more protein than eggs and more iron than beef, Rhiza offers a new generation of sustainable animal-free protein for the burgeoning alternative meat market.
Fred Halvin, vice President of corporate development at Hormel Foods:
“We are excited to work with The Better Meat Co. team to continue to offer delicious and convenient mycoprotein and plant-based protein products.”
This partnership is the latest effort into plant-based products by Hormel Foods. The company is no stranger to plant-based protein with retail products like Planters® peanuts, SKIPPY® peanut butter, and Justin’s® nut butter, as well as several plant-based pizza toppings in the foodservice industry through its subsidiary Burke Corporation and under the Happy Little Plants® brand.
The Better Meat Co. is a Sacramento-based sustainable food tech start-up founded in 2018. As a business-to-business ingredients provider, it pioneers new ways of producing animal-free protein via fermentation, generating ingredients like Rhiza that empower food companies to improve sustainability while making the meatiest alt-protein possible.
Doni Curkendall, executive vice president of operations at The Better Meat Co:
“We’re proud to partner with Hormel Foods to unleash the power of fermentation to build an even more sustainable food supply. Hormel Foods has a deep bench of expertise in both animal and plant proteins, and we look forward to working together to bring our delicious mycoprotein to the world.”
