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# Tyson Ventures Makes an Investment in Plant-Based Seafood Innovator, New Wave Foods
- URL: https://cibocom.ghost.io/tyson-ventures-makes-an-investment-in-plant-based-seafood-innovator-new-wave-foods/
- Published: 2019-09-05T00:00:00.000Z
- Updated: 2026-10-08T15:07:39.000Z
- Author: Cibocom
- Tags: Tyson Foods, pork, beef, poultry

Firm to manufacture plant-derived seafood products for catering services San Francisco, Calif., September 5, 2019 — Tyson Foods, Inc. (NYSE: TSN), via its corporate venture arm, Tyson Ventures, has finalized an investment in New Wave Foods®. Located in San Francisco, New Wave Foods is dedicated to the production of plant-based seafood and aims to introduce a shrimp substitute to catering services in early 2020\. "We are thrilled about this investment in the rapidly expanding sector of the plant-based protein market," stated Amy Tu, president of Tyson Ventures. "This aligns with our ongoing commitment to identify and invest in businesses with innovative products and groundbreaking technologies that are relevant to our primary business, enabling us to cater to an increasing global population." "We collaborated with the Culinary Institute of America to establish the benchmark for this product and then developed a plant-based shrimp that has received glowing reviews from the thousands of individuals who have sampled it," commented Mary McGovern, CEO of New Wave Foods. "Our plant-based shrimp replicates the cooking process and taste of actual shrimp, and it mirrors the texture, flavor, functionality, and versatility of fresh ocean shrimp. The overwhelmingly positive feedback we have received for the product is testament to its quality." New Wave’s product is the result of co-founder and chief technology officer, Michelle Wolf’s extensive teamwork with a group of some of the most skilled and experienced R&D professionals in the U.S. This diverse team comprised leading food scientists and academics. The company’s inaugural product, a plant-based shrimp, is crafted with sustainably sourced seaweed and plant protein, and includes all 8 essential amino acids present in all meats and seafoods. It is also allergen-free, cholesterol-free and has fewer calories and less salt than actual shrimp. "Our product is a tasty, direct replacement for the real thing, and can be substituted in a variety of recipes," McGovern stated. "It provides chefs and catering service operators with excellent menu choices while catering to consumers' increasing demand for sustainable options." New Wave Foods is presently anticipating to announce the initiation of its Series A round in the near future. In June, Tyson Foods introduced its own alternative protein products under the Raised & Rooted® brand, overseen by Justin Whitmore, executive vice president of alternative proteins and chief sustainability officer for the company. The initial Raised & Rooted® products include plant-based nuggets, available in 5,000 retail stores by the end of September, and blended burgers made with a mix of beef and plants that will be available this fall. Tyson Ventures was established in December 2016 and is dedicated to investing in promising food startups that are introducing new products or technology. About Tyson Foods, Inc. Tyson Foods, Inc. (NYSE: TSN) is among the world’s largest food corporations and a recognized pioneer in protein. Established in 1935 by John W. Tyson and developed under three generations of family leadership, the company has a wide range of products and brands like Tyson®, Jimmy Dean®, Hillshire Farm®, Ball Park®, Wright®, Aidells®, ibp® and State Fair®. Tyson Foods continually innovates to make protein more sustainable, customize food for everywhere it’s available and elevate the world’s expectations for how much good food can do. Based in Springdale, Arkansas, the company had 121,000 team members at September 29, 2018\. Through its Core Values, Tyson Foods aims to operate with integrity, create value for its shareholders, customers, communities and team members and serve as a steward of the animals, land and environment entrusted to it. Visit www.tysonfoods.com. Media Contacts Tyson Ventures | Worth Sparkman, 479-290-6358 New Wave Foods | Mary McGovern, 510-736-0693 Category: IR, Newsroom