Beyond Meat Launches Vegan Beef In US Next Week

The announcement saw the company's shares soar, reaching more than six times its IPO price
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'20g of plant-based protein' (Photo: Beyond Meat)

Vegan startup, Beyond Meat, has announced its plant-based ground beef will launch nationwide next week - causing the company's shares to increase.

Beyond Beef, a blend of pea, mung bean, and rice proteins, is 'designed to not only look, cook and satisfy like traditional ground beef but also to be
versatile enough to be used in any ground beef recipe including tacos, dumplings, Bolognese, [and] sliders'.

The new product, which contains 25 percent less saturated fat than traditional ground beef, will soon be available at major retailers including Whole Foods Market, Pavillion, Sprouts, Kroger, and Ralphs.

'Culinary versatility'

"We are thrilled to introduce consumers to our latest product innovation, Beyond Beef," said EthanBrown, Beyond Meat Founder, and CEO.

"This plant-based ground meat allows consumers to enjoy all the culinary versatility of ground beef, with the added nutritional and environmental benefits of eating plant-based meat."

'A wonderful feeling'

According to Market Watch, the new product launch caused the company's shares to 'climb' once again.

Shares in the startup are currently priced at around $155.20, more than six times its IPO price of $25 when it made its debut on the stock market last month.

"It really is a wonderful feeling to be able to welcome people in who have helped this brand, Ethan Brown, Beyond Meat CEO, said, as the company
raised $240 million.

*This article was updated on 29 June 2019 - changing the title from 'nationwide' to 'in US' to avoid any confusion as to where the product is being distributed.