Hormel Foods has entered into an exclusive partnership with food-tech start-up The Better Meat Co. to bring new mycoprotein and plant-based protein products to the marketplace.
199 Ventures, Hormel’s venturing company, was formed in 2019 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, Hormel said.
“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 Sacramento-based The Better Meat Co.
“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.”