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Diving overview:
- Cocoa-free chocolate supplier Voyage Foods opened a 284,000-square-foot facility in Mason, Ohio, to produce cocoa-free chocolate, nut-free spreads and soy-free coffee, according to the company on Oct. 16. press release.
- The plant is expected to begin operation by 2025 and be capable of producing 10,000 tonnes of cocoa-free chocolate per year.
- The push for cocoa and nut alternatives stems from global shortages that have sent consumer prices soaring. Cocoa prices hit a 46-year high in February, about 65% higher than in February 2023.
Dive Insights:
Voyage Foods has received both federal and private financial support with the goal of growing from a start-up food technology company to a large-scale manufacturer, CEO and founder Adam Maxwell said in a press release.
The Department of Agriculture will support construction of the facility with a loan of approximately $25 million.
Last April, Voyage Foods signed an exclusive distribution agreement with . Cargill. The Minnesota-based food company will work to add Voyage’s cocoa-free chocolate, peanut-free spread and hazelnut-free spread as ingredients in a variety of foods such as ice cream and granola bars, the startup said. website.
Voyage Foods has its headquarters and manufacturing operations in Oakland, California.
According to a press release, the company’s products include cocoa-free chocolate and allergen-free spreads made from plant-based ingredients that aim for sustainability and supply chain advantages.
that Pursue Cocoa-Free Chocolate Similar alternatives in the food industry have been driven by global shortages of valuable ingredients over the past year. The International Cocoa Organization noted production declines in the two largest cocoa producing countries, Côte d’Ivoire and Ghana.
Along with cocoa-free chips and melting wafers, Voyage Foods uses proprietary technology to create nut-free spreads and soy-free coffee.
Instead of cocoa, vegetable oil, sugar, grape seed and sunflower protein are used. For its coffee beans, Voyage Foods extracts caffeine from green tea and uses roasted chickpeas, rice hulls and water.
Founded in 2021, Voyage Foods has raised more than $94 million from investors to capitalize on the emerging demand for food alternatives. The company says it has raised the most equity among several startups pioneering “cocoa-free” chocolate. crunch base.
