Australian alternative protein start up, All G foods closed a $15.5 million seed capital raise.
All G foods is an Australian company using a foundational technology, precision fermentation, to develop dairy proteins to be included in milk and other cow-free dairy products.
All G foods is using this technology to enhance its plant-based meat ranges.
All G foods introduces alternative proteins
The All G foods technology is expected to revolutionise the international meat and dairy industry and All G Foods plans to be at the forefront of this industry disruption.
Investors include the Clean Energy Innovation Fund (CEFC) whose charter is to invest in Australian companies that drive the countries’ carbon omission reduction.
Others included Ellerston capital, Triple Star Capital a Singapore based PE firm, David Shein and Geoff Levi, founders of Our Innovation fund and Monash Capital.
Peter Andrews, CEO of Andrews Meats; Rob Lederer, ex Primo Meats; Oppenheimer, a number of distribution partners as well as number of ASX 200 CEOs also participated.
“We are very grateful and privileged to have the backing of so many incredible investors.”
“These institutions and opinion leading individuals see the potential in an Australian first company like All G Foods which combines world leading science with foundational precision fermentation technology and has assembled a world leading team.”
“They see the potential in All G Foods becoming a global supplier of high quality and delicious alternative proteins,” says All G Foods Founder and Chief Executive Officer, Jan Pacas.
Stakeholder commentary on All G foods’ innovation
CEFC Chief Executive Officer Ian Learmonth says, “Alternative proteins are an important way to reduce food-related emissions because they have a relatively small carbon footprint.”
“With plant-based proteins and proteins from technology like precision fermentation, we can help feed a growing global population while putting less pressure on our environment.”
The Sydney based All G Foods’ first product is Love BUDS Burgers which will arrive on the shelves of IGA supermarkets and in burger venues around Australia during September 2021.
An extensive range of alternative protein products is already under development for the Love BUDS™ brand with plant-based mince, sausages plus chicken and bacon alternatives.
Joseph Romeo of Romeos Supermarkets sees All G Foods as a growth opportunity.
“We have seen steady growth in plant based annually, but now we have BUDS Burgers, Mince and Sausages. We are doubling down and resetting how we merchandise the category.”
“Meat and plant based alternatives are getting closer together. While we see a lot of products come and go, not many have the whole package to satisfy the market.”
“When I first saw All G Foods, I knew there was something different, but once I ate the BUDS burger I knew this was going to be a game changer and we jumped onboard immediately.”
Peter Andrews, the Chief Executive Officer of meat wholesaler Andrews Meats is already envisaging All G Foods as a future market leader in the alternatives space.
“Their product is the closest plant-based alternative to real meat I have tasted. I predict these products will account for 10% of the meat market by 2029.”
“There are untapped opportunities for All G Foods across the food service and retail sectors with exciting growth potential in both the fresh and cooked value-add products.”
All G Foods Founder and Chief Executive Officer, Jan Pacas offered optimism.
“We have partnerships with leading global organisations and have put together a science and technology team representing the best in their fields nationally and globally.”
“Our ambition is to make products that are indistinguishable and potentially better than their animal counterparts in both taste and nutrition.”
“We will succeed because we are creating products that consumers love, with a positive impact for our planet. This will be part of a positive future that is All G,” Pacas concluded.
