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Dive Summary:

• 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 filing. Press release.
• The facility, which has the capacity to produce 10,000 mt of cocoa-free chocolate annually, is expected to become operational in 2025.
• The push for cocoa and nut alternatives is driven by shortages that are causing consumer prices to skyrocket around the world. In February, Cocoa prices reach 46-year highAbout 65% higher than in February 2023.

Diving Information:

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

The Ministry of Agriculture will support the construction of the facility with a loan of approximately 25 million dollars.

In April, Voyage Foods signed an exclusive distribution agreement with. Cargill’s. The Minnesota-based food company will work to add Voyage’s cocoa-free chocolate, nut-free spreads and nut-free spreads as ingredients to a variety of foods such as ice cream and granola bars, according to the startup’s statement. website.

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

According to the statement, the company’s products include cocoa-free chocolate and allergen-free spreads made from plant-based ingredients that aim to provide sustainability and supply chain benefits.

Switch to cocoa-free chocolate Similar alternatives in the food industry are prompted by a worldwide shortage of valuable ingredients last year. The International Cocoa Organization drew attention to production declines in the two countries that produce the most cocoa (Ivory Coast and Ghana).

In addition to cocoa-free chips and melted wafers, Voyage Foods uses proprietary technology to make nut-free spreads and bean-free coffee.

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

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