Reetta KiveläNovember 16 2016

2030*

*) NCAR, National Center for Atmospheric Research

Not my Problem?

ReettaCTO, technologist, inventorPhD in Food Science, oat specialist

Maija

Can we be doers?

CEO, brand builder, innovatorEntrepreneur, designer

Maija

(Food Technology 2013 report*)

Environmental impact of meat mass production (WHO)

1 meal2000L

6kg 1kgPlant protein Animal protein

AwarnessMeat mass production challenges Plant based diets boom + protein boom

Natural Health issues

The Missing Link

ANIMAL PROTEINS / UNSUSTAINABILITY

PLANT PROTEINS / NUTRITIONALLY INCOMPLETE

O’Kitchen Ltd 2015

True Ingredients

Legumes

OatOat branOat protein

Beta-glucan fibre

Proteins

Vitamins

Fats

Minerals

Pea proteinFababean protein

Other Oil, salt, spices

Oat malt

2030*

*) NCAR, National Center for Atmospheric Research

Oat has many proven health benefits, including impacts on heart heath, digestion and blood sugar.

PUNTTIS.NET:

Rule Nr 1: TASTE

Rule Nr 1: TASTERule Nr 2: USAGE

Rule Nr 1: TASTERule Nr 2: USAGE

Rule Nr 3: NUTRITION

Rule Nr 1: TASTERule Nr 2: USAGE

Rule Nr 3: NUTRITIONRule Nr 4: ACCESS

PULLED BASED Snacks

Cooking ingredient

Cold cuts

GEL BASED

Food

Meaty

Sweet and crispy

Savouryand crispyFood to

prepare

Food to warm up

Food to grill

Pulled

Chewy

Sausages

A patented platform

G&G

SnacksFood

Hiker’s food Snack bar

TofuDrinks

Product #1: PULLED OATS

Our story

Artikkeli

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2014 2015 2016

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2014 2015 2016

Preliminary studies in China

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2014 2015 2016

Founding the company

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2014 2015 2016

Our first own premises

2015OKO0628PEP-2015009865 20151016

1

Title of the invention

A method of manufacturing a textured food product and a

texturized food product

Field of the invention

The present invention relates to methods for manufacturing of 5

textured food products.

Technical background

Vegetable-based protein-rich products offer many benefits and

advantages to consumers. Protein-rich plant food offers a

sustainable way of fulfilling the daily protein requirements. In 10

addition to the proteins, plants are high in bioactive compounds

such as complex carbohydrates, which are widely recognized as

being healthful. The majority of the Western consumers would

like to prefer a plant-based diet due to its healthiness and

ecological concern. However, many consumers find it difficult 15

to keep their daily protein intake sufficient due to the narrow

and inconvenient offering of proteinous plant products.

Protein bar snack products are a convenient choice, but are

limited to syrup-based taste profiles and have sandy structure.

The main-course plant protein foods in the markets are often 20

sold as dry, requiring time and certain knowledge to process

them to an edible meal. From the viewpoint of ingredients

commercially available as ready-to-eat products, vegetarian

minded consumers have also only few choices. Most of the ready-

to-eat products containing plant protein are based on soya or 25

wheat gluten, which some consumers like to avoid due to

allergy, ecological or ethical reasons or GMO related concerns.

One of the challenges with soya products widely utilized as a

plant based main course is the beany taste of the products that

makes some consumers to search for alternatives. 30

Objective of the invention

An objective of the invention is to improve the nutritional

value of a textured food product manufactured by cooking and

extruding legume protein. This objective can be fulfilled with

the method according to claim 1 and with the textured food 35

product according to claim 13.

Q1 Q2 Q3 Q1 Q2 Q3 Q4Q4

2014 2015 2016

2015OKO0628PEP-2015009865 20151016

1

Title of the invention

A method of manufacturing a textured food product and a

texturized food product

Field of the invention

The present invention relates to methods for manufacturing of 5

textured food products.

Technical background

Vegetable-based protein-rich products offer many benefits and

advantages to consumers. Protein-rich plant food offers a

sustainable way of fulfilling the daily protein requirements. In 10

addition to the proteins, plants are high in bioactive compounds

such as complex carbohydrates, which are widely recognized as

being healthful. The majority of the Western consumers would

like to prefer a plant-based diet due to its healthiness and

ecological concern. However, many consumers find it difficult 15

to keep their daily protein intake sufficient due to the narrow

and inconvenient offering of proteinous plant products.

Protein bar snack products are a convenient choice, but are

limited to syrup-based taste profiles and have sandy structure.

The main-course plant protein foods in the markets are often 20

sold as dry, requiring time and certain knowledge to process

them to an edible meal. From the viewpoint of ingredients

commercially available as ready-to-eat products, vegetarian

minded consumers have also only few choices. Most of the ready-

to-eat products containing plant protein are based on soya or 25

wheat gluten, which some consumers like to avoid due to

allergy, ecological or ethical reasons or GMO related concerns.

One of the challenges with soya products widely utilized as a

plant based main course is the beany taste of the products that

makes some consumers to search for alternatives. 30

Objective of the invention

An objective of the invention is to improve the nutritional

value of a textured food product manufactured by cooking and

extruding legume protein. This objective can be fulfilled with

the method according to claim 1 and with the textured food 35

product according to claim 13.

Patent application

Vegans / Hipsters

Families

Athletes

Women

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2014 2015 2016

User studies

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2014 2015 2016

Shop tests

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2014 2015 2016

Shop tests 3 weeks -> 3 hours

1124

1124

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2014 2015 2016

Hype!

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2014 2015 2016

Approaches

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2014 2015 2016

Approaches

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2014 2015 2016

Factory

Breaking the barriers

Only with bests

Rain maker

31.8.2016

””

The Gold&Green wayFrom R&D to product to mass production 2015-2017

ESTIMATED DEMAND Q3’16

Keys to the emptyfactory

PoC: productisation

ESTIMATED DEMAND Q1’16

2015 2016 2017

Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2

R&D

PoC: consumerdemand/Finland

POC: Categoriademand/Finland

PoC: Industrialisation

PoC: Consumer demand/xx

PoC: Expansion of perfect proteinplatform

In labbook

PoC: HoReCademand

PoC: Multiplication of the production site

Productionkilos/revenue

VISIO

N

The Gold&Green way

Design centric Research driven

innovation

IDEAS

Vision 2020Pulled Oats is the most

attractive meat alternativeavailable in all important

markets globally

Product #2: SNACK

Usage – Savory protein snacks

Funding plans 05’16->

• BANK LEASING Q2’16 1,5M€ IN PROGRESS• EU GRANT Q3’16 2,5M€ IN PROGRESS• EQUITY Q3-Q4’16 3-5M€ PLANNING

Type Time Amount Status

The global meat substitutes market is projected to grow significantly from an estimated value of USD 3.80 billion in 2015 to USD 5.17 billion by 2020 at a CAGR of 6.4% between 2015 and 2020. The growth in this market is propelled by continuous growth in the vegetarian food industry and the increasing health concerns of consumers.

The Asia-Pacific market will register highest growth by 2020 owing to the significant increase in the awareness level in consumers for health and wellness and increasing demand for healthy and clean-label food in the region. The growth of this region is supplemented by the increasing per-capita spending power and changing food habits in developing economies such as India and China.

The growing demand for meat-free food products and increasing health concerns are expected to drive the market for meat substitutes globally. In addition to this, key factors such as increase in adoption rate of vegan & vegetarian diet and increasing health concerns for pets, increasing environmental issues, and presence of modernized retail chain in emerging markets are projected to support the growth in the meat substitutes market in the forthcoming years.

The industry and potential

Competitors: EstablishedSoy (Strips, tofu, tempeh)

Mycoprotein (Quorn UK)Single providerRevenue 2014 240M€Monde Nissin acquired Quorn for 744M€ at Sept. 30th

Seitan = Wheat gluten(Wheaty / Topas GER)Revenue 2014 10M€ (yearly growth 102%)

Facts90% is GMOHormonal effectsRainforest effects

Global soy production 200Mt/y of which 6% goes into human food. Soyfood market size 40B €, of which snack bars 35%, meat alternatives 17%, beverages 14%.The major producers: US, Brazil, Argentina, China

FactsAllergy issuesContains egg

FactsWheat based

Competitors: Newcomers

…TO MANY!

(All based in soy or gluten)

Oumph!More Than Meat

Beyond Meat

Sales plans

FINLANDSWEDEN

Home market pilots 2016-2017 • Finland & Sweden, target 1Mkg/y during 2017• Retail & HoReCa• Cookable food & snacks• Early sales 05’16: 10% of the demand fulfilled

Expansion 2018->• Export: Scandinavia, Benelux, UK, Ger• JV: China, USA

PLANT-BASED REVOLUTION

cooking in the North