'We're excited about this investment in the fast-growing segment of the plant-based protein market'

Food giant Tyson has invested in plant-based shrimp, made from New Wave Foods, through its corporate venture subsidiary Tyson Ventures. 

Based in San Francisco, New Wave Foods plans to have a shrimp alternative ready for foodservice operators by 2020, made primarily from 'seaweed, soy protein, and natural flavors'. 

'rave reviews' (Photo: Instagram / New Wave Foods)

'rave reviews' (Photo: Instagram / New Wave Foods)

'Healthier for you'

"Each year, Americans consume 1.4 billion pounds of shrimp. Our sustainable, plant-based shrimp are every bit as delicious, and healthier for you and the environment than the real thing," the brand's website states. 

"Eating New Wave Shrimp allows each of us to make small changes in our lives that have big environmental impacts."

In a statement sent to Plant Based News, Amy Tu, President of Tyson Ventures, said: "We're excited about this investment in the fast-growing segment of the plant-based protein market

"This continues our focus on 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."

'Rave reviews'

CEO of New Wave Foods, Mary McGovern, added: "We worked with the Culinary Institute of America to set the gold standard for this product and then created a plant-based shrimp that has had rave reviews from the thousands of people who have tasted it.

"Our plant-based shrimp cooks and tastes just like the real thing, and it matches the texture, taste, performance and versatility of shrimp fresh from the ocean. The proof is in the overwhelming, positive response we have had to the product."