New Wave Foods is pushing into new areas of alternative food production, starting with sustainable shrimp
Spotted: US-based New Wave Foods is using plants and sustainably sourced seaweed to create an environmentally friendly version of shrimp. It could become a sustainable alternative to the 1.4 billion pounds of shrimp that are consumed in America every year.
The company uses natural plant extracts to create the briny and sweet flavours of shrimp. The company says the product also has the “texture and bite of shrimp” and can be prepared in recipes that call for shellfish. In the future, the startup aims to also make other plant-based crustaceans, like crab and lobster.
The plant-based shrimp is not organic but it does not include any genetically modified ingredients. It is also free of animal products or byproducts.
New Wave Foods plans to sell its fake-shrimp to restaurants. They haven’t publicised their pricing yet, but the cost of the product will maintain consistent — an advantage to the usual price of shrimp which varies significantly depending on availability.
Investors are already interested in the product’s potential. Tyson Ventures, the investment arm of Tyson Foods, recently invested in New Wave Foods.