Cal-Maine to Expand Cage-Free Production Capabilities
On Oct. 4, Cal-Maine Foods’ board of directors approved $40 million in new capital projects to further expand the company’s cage-free production capabilities. The company plans to fund the projects through a combination of available cash on hand, sales of investment securities and operating cash flow.
The projects will include the addition of five cage-free layer houses across the company’s locations in Florida, Georgia, Utah and Texas. The company plans to start construction by the end of calendar 2024 and expects the projects to be completed with additional production capacity for approximately 1.0 million cage-free layer hens by late summer 2025. These additions will primarily replace recently retired caged facilities and add to the Company’s cage-free capacity.
The company also provided an update on its conversion of the former Tyson Foods facilities in Dexter, Mo., acquired on March 14. Following the closing, the company began work to remodel and repurpose these assets for use in shell egg production. Cal-Maine Foods has also been working with local contract growers and has commitments that would result in approximately 1.2 million additional free-range hens by fall 2025, with plans to add more capacity in the future.
Sherman Miller, president and chief executive officer of Cal-Maine Foods, Inc., said, “We are pleased to announce these new expansion projects, which support our strategy to increase our free-range production in line with customer demand and expanding state requirements for cage-free eggs. The additional capacity will further enhance our ability to serve our growing customer base. We have made considerable progress with the conversion of the Dexter facilities and look forward to the additional production and distribution capabilities from this location. We greatly appreciate the support we have received from the existing network of local contract growers. As we continue to expand our operations, we remain committed to being the most efficient and sustainable producer of fresh shell eggs and egg products, and we will look for additional opportunities to further advance our growth strategy.”
Cal-Maine Foods, Inc. is primarily engaged in the production, grading, packaging, marketing and distribution of fresh shell eggs, including conventional, cage-free, organic, brown, free-range, pasture-raised and nutritionally enhanced eggs. The Company, which is headquartered in Ridgeland, Miss., is the largest producer and distributor of fresh shell eggs in the nation and sells most of its shell eggs throughout the majority of the United States.
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De Novo Gets $4M in Funding for Fermented Lactoferrin
De Novo Foodlabs, a food technology company focused on creating rare protein-based functional ingredients, has announced fresh capital, bringing its total investment to $4 million. This investment will enable De Novo to fast-track the commercialization of its revolutionary precision fermented lactoferrin product, NanoFerrin. The raise, spearheaded by sustainable protein venture capital firm Joyful Ventures, highlights the immense potential of De Novo’s state-of-the-art, animal-free protein solutions to reshape the health and wellness landscape.
Lactoferrin, a functional protein primarily found in milk, plays a crucial role in infant development, and offers numerous health benefits for adults, such as improved immunity, brain health, iron absorption, gut health, and longevity. Lactoferrin has been shown to be effective in alleviating aging-related changes through its anti-oxidation, anti-cellular senescence, and anti-inflammation properties, among others. Traditional extraction methods from cow milk are not only prohibitively expensive but also plagued by sustainability and ethical challenges. De Novo Foodlabs was established to tackle these issues head-on by developing an alternative lactoferrin that delivers all the health benefits without the ethical and environmental drawbacks.
“The lactoferrin market has long been hindered by high prices and inconsistent supply,” said Jean Louwrens, CEO and co-founder of De Novo Foodlabs. “Our team of leading scientists and engineers has dedicated themselves to overcoming these challenges through precision fermentation technology, and we are thrilled to have achieved a breakthrough. NanoFerrin is not only more affordable and eco-friendly; importantly, it also provides a reliable supply source compared to traditional bovine lactoferrin products. We are excited to collaborate with our investors to elevate De Novo to new heights.”
“De Novo Foodlabs exemplifies the innovation and sustainability we champion at Joyful Ventures,” said Milo Runkle, general partner at Joyful Ventuers, and co-founder of the Good Food Institute. “Their advancements in precision fermentation technology and dedication to creating impactful alternatives to high-value animal-derived ingredients pave the way for scalable and profitable industry solutions.” As part of the investment, Runkle will join De Novo’s board of directors.
This latest funding round follows initial investments from Sustainable Food Ventures, Siddhi Capital, Pascual Innoventures, UM6P Ventures, Cult Food Science and Prithvi Capital, bringing De Novo’s total funding to $4 million since its inception in 2021.
The global lactoferrin market, valued at $773 million in 2023, is projected to grow annually by 15.8 percent over the next decade, presenting tremendous opportunities for innovators and investors to enhance the supply chain and satisfy consumer demand. De Novo’s NanoFerrin offers an unmatched ingredient for the food, beverage, and supplements sectors, facilitating rapid market expansion and category growth.
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Chobani Shelf-Stable, Low-Fat Super Milk to Help Communities
Chobani, LLC, a next generation food and beverage company originally known for its high-quality Greek yogurt, launched its first shelf-stable low-fat dairy milk, Chobani Super Milk. This latest product innovation is nutrient rich and is made specifically to be donated to support people impacted by disasters as well as help some of the most vulnerable in Chobani’s hometowns.
“We know food is essential, but it becomes an even greater need during natural disasters. What we did at Chobani was make a solution that could be deployed when and where it’s needed. We call it Super Milk – high protein, high fiber, nutritious milk that is wholesome and shelf stable,” said Hamdi Ulukaya, Founder and CEO of Chobani. “It’s been a true gift for our entire team to bring this to life. We are humbled and honored to help those in need during hard times.”
Developed to help the American Red Cross and Chobani’s local food bank and pantry partners, Chobani Super Milk addresses a critical need by providing access to nutrient-dense, high-protein, low-fat dairy to those who need it most. On average, the American Red Cross responds to approximately 65,000 disasters annually across the United States. At the same time, there are already 44 million Americans facing food insecurity. Chobani will produce an average of 145,000 pounds of Chobani Super Milk monthly to be deployed by the American Red Cross nationally in areas facing natural disasters and to local partners in central New York and southern Idaho communities.
Ulukaya continued, “We are spreading Super Milk across the country through amazing partnerships with the American Red Cross and local foodbanks and pantries in southern Idaho and central New York. We are so proud to work with these inspiring organizations who are focused on delivering food to more people. We could not make this impact without the power of these partnerships, and it is an honor to work together.”
“I’m inspired by forward-thinking Annual Disaster Giving Program members like Chobani that make it possible for us to support those in need at a moment’s notice,” said Cliff Holtz, president and CEO of the American Red Cross. “Last week, Chobani sent a truckload of Super Milk to New Mexico in just a few days, helping power our relief efforts for those impacted by the wildfires. We’re grateful for their generosity and partnership as families continue to rely on the Red Cross for vital comfort and care in the wake of more frequent and intense disasters.”
Like all Chobani products, Chobani Super Milk is made with high-quality, wholesome ingredients. With a 9-month shelf life and no need for refrigeration until opened, the 32 fl oz package provides 4 servings per container and offers 13g of protein – 50% more protein than traditional milk – 7g prebiotic fiber for digestive health, 9g of sugar – 25% less sugar than traditional milk and no sugar added – 400mg of calcium – 25% more calcium than traditional milk, and is fortified with Vitamins A & D.*
Super Milk was created after Chobani recognized the need for nutritious, high-quality dairy products during disaster relief efforts that do not require refrigeration. The shelf-stable nature of Super Milk also addresses the logistic and supply chain challenges often associated with providing dairy to food banks and pantries. A portion of Chobani Super Milk will be donated to food banks and pantries in Chobani’s hometowns providing a nutrient dense protein rich product to people facing food insecurity in its own backyard, where 12% of people in Idaho’s Twin Falls County and over 12% and 13% of people in New Yorks Otsego and Chenango County’s experience food insecurity. Chobani, a leading advocate for fighting hunger and increasing food access, has donated over 6.4 million pounds of food across the U.S. since 2022.
Since its founding, Chobani has believed that business can be a force for good and so does its partners. With support from Tetra Pak, Dairy Farmers of America (DFA), and IFF for ingredients and packaging, Chobani was able to bring Super Milk to life and share its commitment to not only provide good food for all but help those in times of need.
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