Morning Folks,

It’s been a tough year for alt protein investments, with funding down 50% in the first half of 2025—a sobering reminder of the headwinds food system change faces. This week brought some rays of light: 3 EU alt startups in the sector raised over EUR 100M—Nxtfood’s for plant-based meat, the Protein Brewery for its fungi-derived Fermotein, and Revvye for functional yeast proteins.

Elsewhere, precision-fermented egg proteins get a US FDA regulatory nod, egg-free mayonnaise made from air has arrived, and hybrid fish products are now a thing!

Also of note: Anuga, widely considered to be the world’s largest and most comprehensive food trade show, is launching its first-ever event, Anuga Alternatives, dedicated to sustainable and alternative proteins in early October in Germany, with over 90 exhibitors confirmed for the event. 

Finally, this week marks Climate Week NYC, where, according to my spies on the ground, food systems and agriculture took up far more programming time than last year, which is encouraging. From Food Tank’s summits on keeping farmers at the heart of climate action, to the Future Food Institute’s frameworks linking regenerative cities and heritage diets to planetary health, leaders championed practical transitions in how we grow, eat, and value food. Solutions like supporting alternative proteins, integrating food culture with urban planning, and engaging chefs in climate discussions were all spotlighted as pivotal for food systems resilience and global food security.

Meanwhile, in a rambling UN speech on Tuesday, President Donald Trump called climate change the “greatest con job ever perpetrated in the world.” Scientists across the globe shared statements in response. My favorite was Prof Pierre Friedlingstein FRS, Chair in Mathematical Modelling of Climate Systems at the University of Exeter, who said: “To quote Upton Sinclair, it is difficult to get a man to understand something when his salary depends upon his not understanding it.”

-Sonalie

💡 Only On Green Queen

🇹🇭 Opinion: Do Thais Really Need Chicken Breast Smoothies When They Eat Enough Protein Already?
Wichayapat Piromsan, Thailand director for Madre Brava, sheds light on Thailand’s animal protein overconsumption and why more plants need to be on the plate.

💰 Funding News

🇫🇷 French plant-based meat maker Nxtfood, known for its Accro brand, secured €49 million after tripling its revenue last year.
💡The round represents the largest investment in plant-based meat in Europe since 2022, and will be used to triple Nxtfood’s production capacity and expand into new markets.

🍄‍🟫 Netherlands-based fermentation startup The Protein Brewery raised €30 million in Series B funding to bring its fungi-derived Fermotein ingredient to market.
💡It’s already cleared to sell the Fermotein in the US and Singapore, with regulatory approval imminent in other geographies too.

🇳🇱 Revyve, based in the Netherlands, secured €24 million Series B financing to scale up its functional yeast proteins.
💡The highly functional powdered yeast proteins that replicate eggs and industrial additives in a range of applications, from meat and dairy alternatives to sauces, appetisers and baked goods.

🍫 Californian startup Alice Mushrooms closed an $8 million funding round to expand its functional vegan chocolate empire, following seven-figure revenues in its first year.
💡The investment will help the startup develop new products and expand distribution into 1,300 retail stores, and comes as it forecasts 40% year-on-year growth this year.

🥛 Dutch startup Time-Travelling Milkman, which uses sunflower seeds to replace dairy fats, raised €2 million to support the launch of next-gen cream cheeses and desserts.
💡The startup’s clean-label ingredient is designed to enhance the texture of all types of products, and should appeal to consumers looking to move away from processed foods.

✅ Must-Read Headlines

🍳 Finnish startup Onego Bio secured a ‘no questions’ letter from the US FDA, strengthening the regulatory status of its precision-fermented egg protein.
💡Onego Bio’s Bioalbumen is a complete protein with an amino acid sequence identical to ovalbumin and a protein digestibility score of 1.0 (the highest possible score), as well as a two-year-long shelf life.

💵 Gates Foundation and Novo Nordisk have extended the Acetate Consortium initiative by another two years with a $25.6 million investment to turn CO2 into proteins.
💡The funding will allow the consortium to model the technical, economic, and environmental impact of the technological solution it has developed.

🇺🇸 The US Department of Agriculture will stop conducting its annual food insecurity survey, in a bid to stave off criticism of the Trump administration’s aid cuts.
💡The nationwide survey is widely used by federal, state and local lawmakers to make funding decisions for food assistance initiatives and evaluate how well they work.

💡 Key Research & Consumer Insights

💷 Novel fermentation methods to produce alternatives to meat, dairy, and eggs could add £9.8 billion annually to the UK economy by 2050, according to new analysis by Systemiq and the Good Food Institute Europe.

🇪🇺 Over nine in 10 health professionals in Europe feel consumers eat too much meat, 84% consider meat a threat to public health, and 70% believe the livestock industry undermines science, according to a new poll from Madre Brava. Here’s why.

🥛 A new survey by Oddlygood has found that over half of Brits who have stopped drinking plant-based milk are willing to return to the category – here’s how brands can win them back.

🥩 A new survey commissioned by Eating Better and the Food Foundation reveals that more than one in five Brits are eating less meat than they were a year ago, and two-thirds are open to reducing their consumption. Beans could be a winner here.

🚀 Everything Else In Future Food

🐟 Dutch firm Vegan Visboer has expanded beyond animal-free offerings with a new, first-of-its-kind blended salmon product, combining the fish with mycoprotein and plants.

🆕 Finland’s Solar Foods has developed an egg- and dairy-free mayonnaise made with Solein, its signature protein derived from CO2. It’s also three times cheaper.

🥣 German cereal producer Barnhouse launched a new low-sugar vegan granola with Endless Food Co’s cocoa-free chocolate alternative.

🌱 British plant-based startup This is extending its whole-food focus with the launch of a Burmese-style chickpea tofu in partnership with Germany’s Omami.

🌱🍔  Future Food Quick Bites 

In our weekly column, Future Food Quick Bites, we round up the latest news and developments in the alternative protein and sustainable food industry. This week, Future Food Quick Bites covers Bel Group’s Stranger Things-inspired vegan cheese, Planta’s return, and Veganuary’s six-month poll.

📆 Scene & Heard

Catch Sonalie Figueiras at SXSW Sydney 2025!

🇦🇺 SXSW Sydney brings together professionals from business, tech, government, health, marketing, and creative industries for seven days of ideas, innovation and inspiration. Join the event, happening October 13th-19th, for an unparalleled week of connection and discovery in APAC, including a panel on ‘Rewriting the Rules’ with Green Queen’s founding editor Sonalie Figueiras. Secure your spot here.

🇩🇪 New to Anuga for 2025, Anuga Alternatives will be dedicated to the alternative protein industry, including plant-based protein, insect protein, algae protein, mushroom-based protein, and cultivated meat. It’s happening 4th-8th October; find out more here.

🇧🇪 EIT Food’s most exciting event yet, Next Bite: Building the Future of Food Together, will take place 15th-16th October. It will bring together the world’s leading food innovators, thought leaders, and pioneers in the heart of European policymaking – Brussels. Secure your spot here.