Terra Bio Inc. And Smallfood Inc. Named Semi-Finalists in the $15MM XPRIZE Feed the Next Billion Competition

Collectively, as Team ProFillet, we are developing a great tasting, highly nutritious, 'plant-based' fish fillet, delivering a sustainable option to the world's over-exploited commercial fisheries.

HALIFAX, NS and TORONTO, July 29, 2021 /CNW/ - Team ProFillet, composed of Terra Bio Inc and Smallfood Inc, along with other contributors, is thrilled to announce it has been selected from hundreds of entrants as a semifinalist in the prestigious XPRIZE Feed the Next Billion Award. ProFillet, the only team with multiple collaborating companies, came together with the common goal of providing "self-sustaining" food options through establishing a scalable, zero-waste process to produce animal-free protein, omega-3 DHA, and other food ingredients.

"Our vision is to contribute to developing sustainable, nutritious, and tasty alternatives to animal-based products by using underutilized ingredient sources like brewers' spent grains." Says TerraBio President & Co-founder Ricardo Martinez.  "We are humbled for being recognized alongside so many other incredible semifinalists."

"We at Smallfood are ecstatic to be named as semifinalists in this prestigious competition" says Marc St-Onge, Founder and CEO of Smallfood. "Smallfood's novel microalgae fermentation process produces sustainable protein and omega-3 DHA, and when combined with TerraBio's process we create a scalable zero-waste food system able to sustainably feed a growing planet."

The $15 million competition, launched in December 2020, is aimed at reinventing how humanity will feed future generations by incentivizing the production of structured chicken breast or fish fillet alternatives that replicate or outperform conventional chicken and fish in access, environmental sustainability, animal welfare, nutrition and health, as well as taste and texture.

As part of the XPRIZE competition, Team ProFillet will seek to create a fish analogue that will revolutionize the way we think of food.

"Over the past several years, as our global population continues to grow and the demand for meat products increases, it has become clear that our current global food chain cannot keep up," said Caroline Kolta, XPRIZE Feed the Next Billion Program Lead. "We know we need more nutritious, environmentally-friendly and sustainable alternatives to conventional animal-based products, and that wide scale adoption will require additional innovation continuously being brought to market."

At TerraBio we are improving the world's food security and promoting a circular economy by producing highly sustainable food ingredients and chemical feedstocks from spent grain. To learn more, go to www.terrabiofood.com

At Smallfood we are unearthing the potential of microbes to evolve how we feed our people and planet.   To learn more, go to www.smallfood.com

SOURCE Smallfood Inc.