Modern Meat Inc., (CSE: MEAT) (“Modern Meat”) or (the “Company) an award-winning plant-based food manufacturer, is pleased to announce the launch of its plant based Modern Gyoza and the successful sellout lauch of its holiday bundle over the weekend, both created by the Modern Meat development team. The gyoza retains authentic Asian flavours, while replacing traditional animal protein found in most recipes with healthy vegan protein. In addition to launching the Modern Gyoza, Modern Meat has agreed to a co-packing agreement for the gyoza with the capacity to produce up to 100,000 gyozas in a 7-hour shift.
“I am extremely excited for the launch of our Modern Gyoza. The gyoza has been a staple food for many families and the flavour profile is authentic and in-line with traditional gyoza,” states Tara Haddad, Chief Executive Officer of the Company. “The main difference is now we have a focus on the health benefits of a plant-based gyoza. During the research and development process we anticipated production capacity issues as we have had overwhelming demand for our other plant-based products. We solved these production capacity issues by agreeing to co-pack with a specialist in the industry. The ability to produce up to 100,000 pieces of gyoza in a regular work shift is great news for our company as it does not take away from our existing production and takes advantage of our great distribution network. We expect the revenues from the gyoza to be significant to our balance sheet as we will also be adding new distribution teams/networks to introduce the product.”
Modern Meat has received significant positive feedback from new restaurant clientele and plans to distribute the gyoza through its existing food service channel in Canada, as well as the US. The Company will also be looking to feature and sponsor Asian themed events for increased awareness of the products.
“The successful pilot launch of the “Holiday Bundle” indicates there is a significant interest in specialized items during the holiday season. It is a model our company is excited to explore and is encouraged by after this pilot program,” states CEO Tara Haddad.
“The plant-based alternative movement is a global trend, and Veganism is on the rise across Asia and companies such as Nestle are starting to build vegan food facilities in China. The Chinese plant-based meat market has grown at an annual rate of 14.3 percent since 2014. China hosts 17% of the world’s population but only 7% of the world’s arable land, so sustainability and healthy food consumption will become a top priority,” explained Campbell Becher, Director and Head of M&A at Modern Meat.
(source: https://www.china-briefing.com/news/is-a-meatless-meat-revolution-really-underway-in-
china/).
About Modern Meat
Modern Meat is a Canadian food company based in Vancouver, British Columbia that offers a portfolio of plant-based meat products. Modern Meat recognizes the importance of providing consumers nutritious and sustainable meat alternatives without sacrificing taste. We are deliberate in choosing ingredients free of soy, gluten, nuts and GMOs. Our mission is to change the way food is produced and consumed for the benefit of people,
animals and the environment by using only natural 100% plant-based ingredients.
