Past Meat turns into the primary multinational firm centered solely on plant-based meat manufacturing to open its personal manufacturing facility in China
SHANGHAI, CHINA – Media OutReach – 7 April 2021 – Past Meat, Inc. (NASDAQ: BYND), a world plant-based protein firm, right this moment introduced the grand opening of its new state-of-the-art manufacturing facility within the Jiaxing Financial & Technological Improvement Zone (JXEDZ) close to Shanghai. As Past Meat’s first end-to-end manufacturing facility outdoors the U.S., the cutting-edge plant in Jiaxing is anticipated to considerably enhance the pace and scale through which the firm can produce and distribute its merchandise throughout the area whereas additionally bettering Past Meat’s price construction and sustainability of operations.
Designed to serve China’s rising plant-based meat market, the ability will produce Past Meat’s modern vary of plant-based pork, beef and poultry merchandise, together with Past Pork™, the corporate’s first innovation created particularly for the Chinese language market. By producing nearer to the shopper and leveraging native provide chains, Past Meat is investing within the progress of the plant-based meat class in China and the ability underscores the corporate’s dedication to China as a area for long-term progress. In addition to scaled manufacturing to assist the corporate’s increasing retail and foodservice enterprise inside China, the ability will even function R&D capabilities to create distinctive product choices and assist Past Meat’s native strategic companions.
“The opening of our devoted plant-based meat facility in China marks a major milestone in Past Meat’s capacity to successfully compete in one of many world’s largest meat markets. We’re dedicated to investing in China as a area for long-term progress, and we consider this new manufacturing facility will likely be instrumental in advancing our pricing and sustainability metrics as we search to present Chinese language shoppers with scrumptious plant-based proteins which can be good for each folks and planet,” stated Ethan Brown, CEO and Founding father of Past Meat.
The announcement comes only one 12 months after the corporate first entered mainland China by way of a nationwide partnership with Starbucks China. Inside its first 12 months in the market, Past Meat has expanded menu choices at Starbucks China and has partnered with well-known foodservice and retail manufacturers together with KFC, Pizza Hut, Jindingxuan, GangLi Beijing, Sluggish Boat Brewery, Hema, METRO China and extra. The facility is meant to pave the way in which for Past Meat to effectively scale-up to meet future wants and demand.
“The plant-based meat market in China continues to increase and Past Meat has been enthusiastically met by native shoppers who wish to dwell a wholesome and sustainable way of life. The opening of the brand new Jiaxing plant is anticipated to allow us to quicken the tempo of innovation and roll out our merchandise on the pace and scale wanted to stay extremely aggressive throughout the area,” Sweet Chan, Basic Supervisor for Past Meat in China.
Past Meat’s strict ingredient guardrails and dedication to creating merchandise using easy, plant-based substances with out GMOs has enabled the model to increase product distribution all through China and across the globe with ease and pace. Along with the opening of the brand new manufacturing facility within the JXEDZ area, Past Meat will even be opening its first owned manufacturing facility in Europe this 12 months in an effort to make plant-based meat extra accessible to all.
About Past Meat
Past Meat, Inc. (NASDAQ: BYND) is without doubt one of the quickest rising meals corporations in the US, providing a portfolio of revolutionary plant-based meats created from easy substances with out GMOs, bioengineered substances, hormones, antibiotics, or ldl cholesterol. Based in 2009, Past Meat merchandise are designed to have the identical style and texture as animal-based meat whereas being higher for folks and the planet. Past Meat’s model dedication, Eat What You Love™, represents a robust perception that there’s a higher method to feed our future and that the constructive selections all of us make, irrespective of how small, can have an excellent influence on our private well being and the well being of our planet. By shifting from animal-based meat to plant-based meat, we are able to positively influence 4 rising world points: human well being, local weather change, constraints on pure assets and animal welfare. As of December 31, 2020, Past Meat had merchandise accessible at roughly 122,000 retail and foodservice shops in over 80 nations worldwide. Go to www.BeyondMeat.com and comply with @BeyondMeat, #BeyondBurger and #GoBeyond on Fb, Instagram and Twitter and @BeyondMeatOfficial on TikTok.
Past Meat Ahead Trying Statements
Sure statements on this launch represent “forward-looking statements.” These statements are based mostly on administration’s present opinions, expectations, beliefs, plans, targets, assumptions or projections concerning future occasions or future outcomes. These forward-looking statements are solely predictions, not historic truth, and contain sure dangers and uncertainties, in addition to assumptions. Precise outcomes, ranges of exercise, efficiency, achievements and occasions may differ materially from these said, anticipated or implied by such forward-looking statements. Whereas Past Meat believes that its assumptions are affordable, it is vitally tough to foretell the influence of identified elements, and, in fact, it’s unimaginable to anticipate all elements that would have an effect on precise outcomes. There are a lot of dangers and uncertainties that would trigger precise outcomes to vary materially from forward-looking statements made herein together with, most prominently, the dangers mentioned underneath the heading “Threat Elements” within the Firm’s Annual Report on Type 10-Ok for the 12 months ended December 31, 2020 filed with the U.S. Securities and Trade Fee (“SEC”) on March 1, 2021 in addition to different elements described sometimes in Past Meat’s filings with the SEC. Such forward-looking statements are made solely as of the date of this launch. Past Meat undertakes no obligation to publicly replace or revise any forward-looking assertion due to new data, future occasions or in any other case, besides as in any other case required by regulation. If we do replace a number of forward-looking statements, no inference needs to be made that we’ll make extra updates with respect to these or different forward-looking statements.