Impossible Foods cash injection and Metro Bank rumours

15 May, 2019, 16:15 | Author: Regina Silva
  • Impossible burger

Joining Li, Hong Kong's richest businessman, in the Series E funding list are technology titans and United States celebrities, including pop singer Katy Perry, comedian Trevor Noah, singer will.i.am and rapper/businessman Jay-Z.

"We don't lead with the source of guilt that meat eaters have globally".

"Impossible Foods menu items, such as its signature Impossible Burger, are sold at roughly 7,000 locations across the U.S. According to Lee, demand at individual locations is rapidly ramping up even as the company rolls items out to more locations". Animal husbandry and industrial farming contribute heavily to rising greenhouse gas emissions (which is kind of a huge problem). It uses modern science and technology to create wholesome food, restore natural ecosystems, and feed a growing population sustainably.

As with competitors' vegan burger offerings - such as Impossible Foods' Impossible Burger which is sold in Burger King, and Nestlé's Incredible Burger which is sold in McDonald's Germany - Beyond Meat is spreading across the foodservice sector.

"That's where plant-based meat alternatives can step in".

The startup's sales in Asia, including Singapore, have risen more than three-fold since March 2019.

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Brown's wife, who has worked as both a scientist and physician, is the vice president of nutrition and health at the company. Impossible is sold in a wide range of restaurants and cuisines throughout Hong Kong, Singapore, and Macau.

The Oakland, California-based company plans to employ 50 new workers at its plant, which now has a small squad of some 70 full-time employees.

"We don't pay for promotions or have an agency that seeks celebrities", Impossible Burger chief financial officer, David Lee, told The Post. The company is adding a third shift and a second full line of production to help increase its capacity this year. "Our global financial partners are supporting a technology powerhouse that will transform the global food system". Impossible Foods launched in Hong Kong and Macau previous year.

Since January, Impossible Foods has recorded growth in every sales category in which it does business - independent restaurants, large restaurant chains such as White Castle and Qdoba, and non-commercial outlets such as theme parks, museums, stadiums, and college campuses.

The burgers don't come cheap: a typical Impossible-filled burger goes for more than $US12, compared with around US$7 for premium beef mince. However, the burger already launched within restaurants back in 2016. Restaurant Brands' (NYSE: QSR) Burger King chain is planning on launching its Impossible Whopper.

Impossible Foods' meat substitutes are made directly from plants.

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