FoodVoyage Foods to open Ohio cocoa-free manufacturing facility

Voyage Foods to open Ohio cocoa-free manufacturing facility

-

spot_img

[ad_1]

This audio is auto-generated. Please let us know if you have feedback.

Dive Brief:

  • Cocoa-free chocolate provider Voyage Foods is opening a 284,000-square-foot facility in Mason, Ohio, to produce cocoa-free chocolate, nut-free spreads and bean-free coffee, according to an Oct. 16 company press release.
  • The plant is expected to start operations by 2025, with the capacity to produce 10,000 metric tons of cocoa-free chocolate annually.
  • The push for cocoa and nut alternatives stems from worldwide shortages that have skyrocketed consumer prices. In February, cocoa prices reached a 46-year-high, roughly 65% higher than February 2023.

Dive Insight:

Voyage Foods has received both federal and private financial support as it aims to grow from a startup food technology company to a large-scale manufacturer, CEO and founder Adam Maxwell said in the release.

The Department of Agriculture will aid the facility’s construction with a loan of approximately $25 million.

In April, Voyage Foods entered into 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, according to the startup’s website.

Voyage Foods is headquartered and operates a manufacturing site in Oakland, California.

The company’s products include cocoa-free chocolate and allergen-free spreads, made from plant-based ingredients, aiming to have sustainability and supply-chain benefits, according to the release.

The push for cocoa-free chocolate and similar alternatives in the food industry are being driven by shortages over the past year for the precious ingredients all across the world. The International Cocoa Organization pointed to production declines in two countries that produce the most cocoa — Côte d’Ivoire and Ghana.

Along with cocoa-free chips and melting wafers, Voyage Foods also uses proprietary technology to make nut-free spreads and bean-free coffee. 

Instead of cocoa, the company uses vegetable oil, sugar, grape seeds and sunflower protein. For its coffee beans, Voyage Foods extracts caffeine from green tea and uses roasted chickpeas, rice hulls and water.

Voyage Foods, founded in 2021, has raised over $94 million from investors, trying to capitalize on the new need for food alternatives. The company has raised the most equity among several startups pioneering “cocoa-free” chocolate, according to Crunchbase.

[ad_2]

Source link

Latest news

Making the Most of Your Didihub Experience

Didihub has emerged as one of the leading online platforms for learning and personal development, offering users a wide...

Exploring the Limitations and Opportunities of the ChatGPT API

The ChatGPT API has become one of the most exciting and transformative tools in the realm of artificial intelligence...

Starting a Belgium Business: The Ultimate Guide for Entrepreneurs

Belgium, known for its robust economy, strategic location in the European Union, and business-friendly environment, has become an increasingly...

How Gaming Helps Improve Problem-Solving Skills

Gaming, particularly in the realm of online games like singapore online slot games, has become a widely embraced form...
spot_img

Superior Trading Starts with NorthView

In the fast-paced world of financial markets, success depends on having the right tools, strategies, and platform. NorthView, a...

From Walkways to Fire Pits: Versatile Uses of Belgard in Portland

When it comes to outdoor design, few materials offer the same level of versatility and aesthetic appeal as Belgard...

Must read

Making the Most of Your Didihub Experience

Didihub has emerged as one of the leading online...

Exploring the Limitations and Opportunities of the ChatGPT API

The ChatGPT API has become one of the most...
spot_img

You might also likeRELATED
Recommended to you