The initiative is the brainchild of Plant Powered Consulting founder Elysabeth Alfano and fellow plant-based investor Sasha Goodman
Plant Powered Consulting founder Elysabeth Alfano and fellow plant-based investor Sasha Goodman have launched a joint initiative to track plant-based publicly traded companies. The so-called VegTech: The Global Vegan Impact and Innovation Index (VEGT) currently tracks 21 stocks and co-founders said they will be reporting monthly on its market cap-weighted performance. The index is hosted on the website of Alfano’s consulting company.
Alfano and Goodman argued VEGT will give a snapshot of the growth, health and investability of the mission-driven sector.
“As an investor, I want a portfolio that is 100% free from animals,” said Alfano. “I also want to invest in companies that are intentionally seeking to solve some of the world’s greatest problems by keeping animals out of their products. Thus, I started curating a list of companies on the global markets according to certain criteria for both myself and my Plantbased Business Hour listeners.”
The VegTech founders said they followed two fundamental criteria to establish the index – the company’s commitment to work towards making animal-free advancements in their product offerings and that the whole company cannot be involved in producing or using animal-based products, performing animal testing (unless subjected by law) or caused the displacement of wildlife.
The ‘index’, currently in beta mode, started at 1000 and is up 6.47% in February to 1312. In January, it was up 23.23% to 1232.
Goodman said: “With this list, I hope to encourage public companies to lead the way and replace animal products with plant- or cell-based versions that are better for people, the planet and the animals.”
The list will continue to morph and grow as more plant-based companies go public. Equally, if any company introduces any animal products into their product lines, it will be taken off the list.
At the time of writing, the VegTech index featured companies ordered by location rather than performance.
It’s not surprising to see Beyond Meat in pole position in the US, followed closely by ingredients giant Ingredion, but there is also Natural Order Acquisition Corp, the SPAC created by vegan investor Sebastiano Cossia Castaglioni.
Simris, the Swedish algae-based supplements producer has made it to the list, as well as Israeli cell-based meat producer Meat-Tech and 3D-printed burger maker SavorEat. Canadian companies Eat Beyond, and Very Good Food Company are also on the list.
Below is NutritionInvestor’s pick based on the innovative offering of the company – and the investment opportunity it represents.
Simris Alg (SIMRISB on Nasdaq Stockholm): Swedish company Simris produces algae-based Omega 3 supplements. Simris is also producing supplements in powder form from superfoods and vitamins and minerals, including spirulina.
Laird Superfood (LSF on NYSE American): A former Danone Manifesto Ventures-backed start-up, Laird Superfood is a supplement and drinks company that went public in November. The company produces plant-based creamers, coffees, snacks, and micronutrient-rich supplemental foods.
The Very Good Butchers: (VRYYF on US OTC Markets) The Very Good Butchers went public last year and stocks has been on an upward trend ever since. It produces a line of plant-based meats and added cheese to its offering following the acquisition of Cultured Nut. The company is expanding distribution to the US.
Eat Beyond Global (EATBF on the US OTC Markets): Eat Beyond Global Holdings is a Canadian portfolio company with investments in TurtleTree Labs, Eat Just, Inc., and The Very Good Food Company, to name but a few. It is available on both the Canadian TSE and the U.S. OTC market.
Meat-Tech 3D: (MTTCF on US OTC Markets) Meat Tech 3D is an industrial cultured meat and production process using integrated 3D printing technology.
SavorEat (SVRT on Tel Aviv Stock Exchange). 3D-printed burger maker SavorEat hails from Israel and the company went public in November.
AppHarvest (APPH on the Nasdaq Global Select). Agtech company AppHarvest is building some of America’s largest greenhouses, combining conventional agriculture techniques with today’s technology to grow non-GMO, chemical-free produce.
Ingredion, Inc. (INGR on NYSE) American multinational Ingredion is a global supplier of plant-based ingredients for plant-based products. The company has invested in plant-based egg producer Clara Foods and recently acquired plant-based protein company Verdient from film director James Cameron.
Next Meat (NXMH on US OTC Markets): Tokyo-based food-tech company Next Meats Co. got listed in the US OTC market in January, after acquiring an American SPAC. It began its product development in 2017 and was officially established in 2020. The company has plans for worldwide expansion and NASDAQ listing in the future.
Natural Order Acquisition Company (NAOC on Nasdaq Capital Market): NAOC is a blank cheque company headed by vegan investor Sebastiano Cossia Castiglioni and his colleague Paresh Patel. It was formed last year and is targeting companies that are focused on technologies and products related to sustainable plant-based food and beverages, alternative protein, and ingredients.
Guru Organic Energy (GUROF on US OTC Markets). Guru is a Canadian company offering organic energy drinks crafted with plant-based ingredients. The company is offering free shipping and the pack of 24 cans costs $48.99.
Tofutti (TOFB on US OTC Markets). Alternative dairy company Tofutti is a soy-based and dairy-free foods company that went public in the 1980s. Tofutti produces frozen desserts, cream and sour cheeses. Tofutti has more than 35 products in the market.
Date published: 2 March 2021