Meati Opens An ‘Infinitely Scalable’ Mycelium ‘Mega Ranch’ to Rival Big Meat
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Things are getting meaty over at Meati as the mycelium mushroom meat producer opens a large-scale production facility it says can rival the output of conventional animal farms.
Following a Series C funding round that brings Colorado-based Meati’s capital raise to more than $250 million, the mycelium meat company announced the opening of a ‘mega ranch’ in Thornton, Colorado, capable of producing ‘tens of millions of pounds’ of the company’s vegan meat per year.
“Investors and consumers recognize that Meati is a new, differentiated food,” Tyler Huggins, CEO and co-founder of Meati Foods, said in a statement. “They only need to read our simple ingredient list and taste Meati to recognize that this is the cut-through option people have been waiting for — something they absolutely see weekly if not daily on their plates.”
The company first announced its plans to open the 80,000-square-foot ranch in 2021, following its $50 million Series B funding round. Meati says the Mega Ranch will rival the output of the largest animal-based operations in the U.S. A vertically integrated approach brings growing, harvesting, processing, and packaging in-house to the ranch. The company anticipates a $1 billion run rate in sales by 2025.
“Our belief that nature already has the answer to many of today’s challenges allowed us to unlock a new food with Meati at a time when consumers are demanding something different and better,” Huggins said. “Meati delivers an unparalleled food with its taste, texture, nutrition, and purity, and we’re thrilled to open this first phase of the resource-efficient ‘Mega Ranch’ facility to help even more consumers add it to their diets.”
Using just a teaspoon of mycelium spores, Meati says it can produce protein equivalent to “hundreds of cows” in just a few days’ time at a fraction of the resources. This, the company says, creates a “nearly infinitely scalable platform.”
‘A seismic shift in how we eat’
“The next few years will see a seismic shift in how we eat, and Meati’s state-of-the-art, scalable production capabilities coupled with its focus on meeting consumer needs for clean, whole-food protein position the brand to lead,” said Fazeela Abdul Rashid, Partner at Revolution Growth and member of the Meati Foods board.
“Tyler and the team have a vision for a new food category with pure ingredients and taste that doesn’t compromise. We are excited to continue working with them to reach the next level and bring Meati to more consumers across the U.S.,” Rashid said.
Meati says its current lineup of products, which includes the Classic Cutlet, Crispy Cutlet, Classic Steak, and Carne Asada Steak, are all being produced at the Mega Ranch. The popular products continue to sell out online within minutes of launching, the company says. Meati has earned praise from Momofuku founder David Chang, former White House senior policy advisor for nutrition, Sam Kass, and Sweetgreen founders Nicolas Jammet and Jonathan Neman.
Last July, Meati closed a $150 million Series C funding round led by Revolution Growth and Chipotle’s Cultivate Next Fund.