After receiving approval from the Food and Drug Administration, Impossible Foods has cleared the final regulatory hurdle it confronted to rolling out in grocery shops.
The firm is focusing on a September launch of Impossible merchandise on grocery retailer cabinets, becoming a member of its competitor Beyond Meat on grocery retailer cabinets.
The information comes as the corporate mentioned it inked a serious provide settlement with the OSI Group, a meals processing firm to extend the provision of its Impossible Burger.
Impossible Foods has been going through shortages of its product, which it may’t make quick sufficient to fulfill rising buyer demand.
The provide constraints have been particularly acute as the corporate inks extra offers with quick meals distributors like Burger King, White Castle, and Qdoba to produce its Impossible protein patty and floor meal to a rising variety of retailers.
Impossible Foods merchandise are actually served in over 10,000 areas around the globe.
Earlier this yr, the corporate employed Dennis Woodside and Sheetal Shah to scale up its manufacturing operations and assist handle its progress into worldwide markets. The firm started promoting its product in Singapore earlier this summer season.
May not solely noticed new executives becoming a member of the Impossible staff, however a brand new capital infusion as nicely. Impossible Foods picked up $300 million in financing from traders together with Khosla Ventures, Bill Gates, Google Ventures, Horizons Ventures, UBS, Viking Global Investors, Temasek, Sailing Capital, and Open Philanthropy Project.
With the brand new FDA approval, Impossible Foods will now be capable of go face to face with its chief rival, Beyond Meat. The regulatory approval will even assist to dispel questions which have swirled across the security of its progressive soy leghemoglobin which have continued for the reason that firm started its growth throughout the U.S.
Last July, the corporate obtained a no-questions letter from the FDA, which confirmed that the corporate’s heme was fit for human consumption, in line with a panel of food-safety consultants.
The remaining impediment for the corporate, was whether or not or not the corporate’s “heme” may very well be thought of a shade additive. That approval — the usage of heme as a shade additive — is what the FDA introduced as we speak.
“We’ve been engaging with the FDA for half a decade to ensure that we are completely compliant with all food-safety regulations—for the Impossible Burger and for future products and sales channels,” mentioned Impossible Foods Chief Legal Officer Dana Wagner. “We have deep respect for the FDA as champion of US food safety, and we’ve always gone above and beyond to comply with every food-safety regulation and to provide maximum transparency about our ingredients so that our customers can have 100% confidence in our product.”
