Temasek-backed Impossible Foods to contest Bill Gates' Beyond Meat in Singapore.
SINGAPORE : Starting today, blocks of Impossible Foods Inc.’s plant-based meat will be delivered to eight restaurants in Singapore to be made into a variety of cuisine from burgers and ‘meatballs,’ to char kway teow and ‘beef’ Wellington.
Now, they are going head-to-head to expand their markets globally and have targeted restaurants overseas, with Impossible Foods having raised over US$475 million and another US$122 million in funds raised by Beyond Meat. Impossible Foods’ plant-based meat is manufactured in the US and distributed by Classic Fine Foods in Singapore.
In the US, White Castle restaurant joints offering vegan burgers using Impossible Foods' products saw their sales figures exceed projections by 30%.“Our goal in Singapore is to create a massive following, strategically demonstrate can be turned into anything a Singapore's chef desires. We don't have a revenue target or a hard number on location,” says Lee.
Beyond Meat says its latest meatless endeavour is made from a blend of pea, mung bean and rice proteins. It also boasts 25% less saturated fat than beef.
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