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Saturday, Aug 13, 2022
Mugglehead Magazine
Alternative investment news based in Vancouver, B.C.

Business

Planet Based Foods launches taquitos with hemp-based ‘meat’

The firm recently signed a deal to sell its products with online vegan marketplace Vejii

Planet Based Foods launches taquitos with hemp-based 'meat'
The company will debut the taquitos at the Natural Products EXPO West in Anaheim March 9–11. Photo via Planet Based Foods

Vegan food company Planet Based Foods Global Inc. (CSE: PBF) (FSE: AZ0) has started to sell taquitos with a hemp-based meat alternative.

On Tuesday, the San Francisco-based company said it will debut its Original and Southwest taquito flavours at the Natural Products EXPO West in Anaheim this coming weekend.

The taquitos are made with hemp seed, pea protein, brown rice and vegan cheese. They are soy-free, GMO-free and are now available to foodservice and retail buyers for purchase.

The company says the new hemp-based products expand its plant-based category after successfully launching hemp-based burgers, sausages and other products via planetbasedfoods.com and Vejii.com. The company signed a partnership with the digital marketplace and fulfilment platform Vejii Holdings Ltd. (CSE: VEJI) to sell Planet Based Foods products last month.

Read more: US Senate bill would finally allow CBD in food and drinks

Read more: American hemp production valued at US$824M in 2021: USDA survey

Through its subsidiary in San Diego, Planet Based Foods sources all of its hemp from American producers to reduce its supply chain carbon footprint. They also own and operate VEDGEco. based in Hawaii, which distributes bulk plant-based products to restaurants and to the wholesale food industry.

“Consumers are looking for new, convenient ways to incorporate plant-based foods into their lifestyles, and Planet Based Foods is delivering,” CEO Braelyn Davis said in a statement.

“We founded Planet Based Foods with one purpose: to establish hemp as a nutrient-dense protein source that is fit to weather the impacts of climate change and feed the planet for generations to come,” Davis said.

Company stock dipped 21 per cent Tuesday to $0.24 in the Canadian Securities Exchange.

According to the 2021 Hemp Acreage and Production Survey, the total value of U.S. hemp production was US$824 million last year, with hemp seed harvesting being a top use for the plant representing US$65.2 million in the production sector.

 

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