Planet Based Foods Global Inc.

Vancouver-based Planet Based Foods Global Inc. (PBFG), produces sustainable plant-based meat substitutes through its San Diego-based wholly owned subsidiary Planet Based Foods Inc. (Planet Based Foods). The startup uses hemp as the main ingredient in its plant-based meat products. Planet Based Foods is the culmination of six years of research and development aimed at using hemp protein to create plant-based meat products and superfoods.

Planet Based Foods’ hemp-based product portfolio includes Original Hemp Burger, Green Chili Southwest Hemp Burger, Breakfast Sausage Patties, and Italian and Original Crumbles, which were launched in the US in February 2022, the first hemp-based meat products to the US market. All products are non-GMO, gluten-free, have no soy, and contain high-performance nutrition and omega 3-6-9 fatty acids and are priced over 350% more than animal-based counterparts.

Key Partnerships and Customers

Planet Based Foods collaborated with Copper Mountain Ski Resort and Stout Burgers & Beers in January 2022 to include its products in menus across seven restaurants in California and Colorado. In March 2022 , KeHe became the startup’s primary distributor through a partnership enabling Planet Based Foods to expand distribution to both small- and medium-scale retailers while also supporting its expansion to Canada. 

The company partnered with Cedarlane Natural Foods Inc in October 2022 to explore near and far-term synergistic opportunities through vertical and horizontal collaborations. In November 2022 , the company entered into a distribution partnership with Kroger, thereby expanding its retail network by 700 stores. 

Planet Based Foods partnered with Violife, a leading plant-based cheese producer, in February 2023 , to be its official supplier of plant-based cheese for its new convenience food range.

Funding and Financials

In January 2022, PBFG commenced trading on the Canadian Securities Exchange under the ticker PBF. Later in January 2022, the company's subordinate voting shares were accepted for listing on the Frankfurt Stock Exchange under the ticker FSE: AZ0.

Following an announcement in June 2023 , the company completed the second and final tranche of its non-brokered private placement in August 2023. It issued a total of 341 convertible debenture units at CAD 1,000 (~USD 762) per unit and raked in gross proceeds of CAD 341,000 (~USD 260,000).