Stock prices for Beyond Meat rose nearly 10% Wednesday following the company’s new product announcement. That product, Beyond Beef, is identified on the label as “plant-based ground” and will be rolled-out nationwide later this week.
“We are thrilled to introduce consumers to our latest product innovation, Beyond Beef,” said Ethan Brown, Beyond Meat founder and CEO. “This plant-based ground meat allows consumers to enjoy all the culinary versatility of ground beef, with the added nutritional and environmental benefits of eating plant-based meat.”
According to the company, the new product can be used for tacos, meatballs, dumplings, Bolognese or other items made with traditional ground beef.
The company says Beyond Beef is designed to taste and look more like traditional ground beef — it even has marbling — for tacos, Bolognese sauce and more. It’s made from a combination of pea, mung bean and rice proteins. A four-ounce serving contains 20 grams of protein.
Beyond Beef will be available in the coming weeks at Amazon.com’s Whole Foods, Albertson’s, Kroger, Safeway and others.