research has to supplant or even replace conventional poultry production. While he feels there will be a place for conven- tional livestock production in 10 years’ time, it will be part of a food system that relies on synthetic production as well. “New methods of producing food are going to be required, as population projections soar to 9.7 billion by 2050. In my opin- ion, a decade from now, farming will take many forms – some new, some conventional.”
Growth For anyone thinking that this is still some way away, consider the company’s successes to date – and the money behind it. According to reports it has raised more than US$ 120m in funding – some of which has come from seriously high-pro- file investors intent on changing the world as much as at- tracting a return. Think Bill Gates, or Hong Kong-based bil- lionaire and philanthropist Li Ka-shing. Its scrambled egg product launched in the US in October last year and sold the plant-based equivalent of three million chicken eggs in its first four months. It’s not the lowest cost
either – eggs are priced on par with “premium” egg equiva- lents, and cost between two- and three-times as much as the cheapest egg on the market. But, as Mr Tetrick says: “As we’re always working on improving the functionality of the prod- uct, we’re also working to bring the cost down, which will happen as the product becomes more widely available around the world.” And it will soon be available in Europe. In January this year the company announced a new partnership with German poultry giant PHW Group, following a partnership struck last summer with Italian egg product expert Eurovo to produce the product here in Europe under licence. At the time, Eurovo Group president Siro Lionello said: “The story of Eurovo start- ed in Italy in the middle of the last century and a new and ex- citing chapter is about to begin with JUST. Partnering with JUST will allow Eurovo to include a non-animal product in our portfolio. “Balancing modernity and tradition while embrac- ing changing consumer preferences and reducing our envi- ronmental footprint is a cornerstone of our business and this relationship ensures that this approach will continue.”
▶ POULTRY WORLD | No. 2, 2019
Just plant based scrambled egg product
launched in the US in October last year and sold the plant- based equiva- lent of three million chicken eggs in its first four months.
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