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Eat Just Receives Needed Capital Infusion

09/05/2023

The Ahimsa Foundation has provided Eat Just with $16 million to resolve rumored cash flow problems.

 

Since the inception of a succession of business entities intended to displace eggs subsequently broiler meat, founder and CEO Josh Tetrick has relied on investors to supply working capital to support his efforts to replace conventional livestock production.  It is considered significant that funds are no longer acquired from U.S. venture capital companies and Tetrick sources financial support from entities in Asia.

 

Bloomberg has reported on the non-profitability of alternative egg and meat products with no evidence of the potential for profitability.

 

Just Egg packed in a 12 ounce container retails for $5. The contents are equivalent to 7 Extra- large size white-shelled generic eggs with a current shelf price of $1.70 per dozen. This is the equivalent of $1.00 for real egg with a high nutrient content and the cost is five times the price of the plant-based equivalent from Eat Just. During the height of the HPAI pandemic with eggs spiking at $5 per dozen over a brief period Tetrick claimed that his company had achieved parity with real eggs. This did not last long and in all probability whatever gains were achieved in sales have long since evaporated. 

 

Factors mitigating against long-term viability for Just Egg include the high costs of production relative to real eggs, failure to establish sustained customer loyalty based on inferior quality and lack of versatility in meal preparation.  Noncompetitive prices are a major deterrent to market acceptance and growth in an environment dominated by concern over expenditure on food. Only the affluent are willing to pay a premium for intangible attributes such as welfare and sustainability.