Hormel Foods Corp.’s venturing company, 199 Ventures, has entered into an exclusive partnership with The Better Meat Co. to bring new mycoprotein and plant-based protein products to market. Formed in 2019, 199 Ventures is a food forward incubator which includes investing in companies that align with Hormel Foods growth strategies.
The companies will work together to develop wholesome and sustainable alternative protein products with The Better Meat Co.’s 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 meat-like texture that has more protein than eggs and more iron than beef, according to Hormel.
“We’re proud to partner with Hormel Foods to unleash the power of fermentation to build an even more sustainable food supply,” said Doni Curkendall, executive vice president of operations at The Better Meat Co., in a statement. “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.”
Related: Plant-Based Meat Sells Better in Meat Department; Publix Introduces Chickenless Tenders.