New Wave’s first offering—a plant-based shrimp—is made with sustainably sourced seaweed and plant protein.
Tyson Foods, Inc., Springdale, Ark., through its corporate venture subsidiary, Tyson Ventures, invested in New Wave Foods, a San Francisco-based producer of plant-based shellfish. Through this acquisition, Tyson Ventures plans to have a shrimp-alternative line available for foodservice operators in early 2020.
“We’re excited about this investment in the fast-growing segment of the plant-based protein market,” says Amy Tu, president of Tyson Ventures. “This continues our focus of identifying and investing in companies with disruptive products and breakthrough technologies related to our core business, so we can continue to serve a growing global population.”