Meat alternative company Planetarians to close operations; searching for a buyer interested in acquiring 'demonstrated, market-proven technology' with reduced risk
In the heart of Hayward, California, Planetarians, a pioneering startup in the alternative protein space, is set to auction its intellectual property (IP) and assets on August 7. The move comes as the company seeks to settle outstanding debts and attract strategic buyers in the alternative protein, plant-based meat, and broader food tech sectors.
Planetarians, known for its patented method for manufacturing meat alternatives from spent liquid brewers' yeast and other upcycled proteins, has an 11,500 sq ft pilot facility in Hayward. The auction includes a twin-screw extruder, centrifuge, freezing tunnel, conveyors, vacuum packer, and other equipment, as well as patents covering the core technology and products, valid until 2041. The rights to lease the pilot facility and the 'SpyGlass AI' platform, a revolutionary platform for product development, are also up for grabs.
The 'SpyGlass AI' platform extends Planetarians' technology application to broader CPG product development, leveraging byproducts from industrial food production. This innovative tool could potentially transform how major food companies approach innovation and sustainability.
The auction represents a rare opportunity for substantial growth potential and the capacity for significant societal impact. Potential buyers are likely to be strategic companies seeking de-risked, market-validated technology to address challenges in producing cost-effective, clean-label plant-based meats.
Companies focused on plant-based or alt-meat production, aiming to lower production costs and create clean-label products with simpler ingredients, are prime candidates. Food tech firms interested in innovative processes that use upcycled agricultural waste and brewer’s yeast are also likely to show interest.
Firms seeking a strategic shortcut to market-ready solutions via acquiring a portfolio that includes physical equipment, IP patents, leasing rights to a pilot facility, and the 'SpyGlass AI' platform are also potential buyers. Additionally, buyers valuing a founder-led transition service, as Planetarians’ founder Aleh Manchuliantsau offers to act as a strategic advisor for 6-to-9 months to aid knowledge transfer and de-risk the acquisition, are likely to be interested.
Given the involvement of investors like ZX Ventures (from AB InBev), Mindrock, and Techstars, potential buyers might also include venture-backed startups or established CPG companies looking to expand their sustainable protein portfolios.
In a statement, the founder and CEO of Planetarians, Aleh Manchuliantsau, stated that this isn't a liquidation, but a strategic transition. He emphasised that the auction is an opportunity for the technology to reach a wider audience and make a greater impact in the alternative protein market.
Despite the auction, Planetarians continues to make strides in its mission to transform the food industry. In 2023, the company raised a $6 million seed round led by Mindrock and supported by Traction Fund, Techstars, SOSV, and ZX Ventures. In the same year, Planetarians achieved $135k from senior housing sales, and in 2024, $141k in school sales.
The auction is a significant step for Planetarians, but it's also an exciting opportunity for the alternative protein market. With the right buyer, Planetarians' technology could revolutionise the industry, making plant-based and alt-meat products more affordable, sustainable, and accessible.
[1] Source: Planetarians press release, August 2023 [2] Source: TechCrunch, August 2023
- This strategic transition of Planetarians' technology, inclusive of the twin-screw extruder, patents, SpyGlass AI platform, and leasing rights to the pilot facility, can potentially transform how major food companies approach innovation and sustainability, extending technology application to broader consumer packaged goods (CPG) product development.
- Given the involvement of strategic companies seeking de-risked, market-validated technology to address challenges in producing cost-effective, clean-label plant-based meats, the auction represents a significant step for the alternative protein market, with the potential for a potential buyer to revolutionise the industry, making plant-based and alt-meat products more affordable, sustainable, and accessible.
