Thanks to their groundbreaking approach to food technology, Voyage Foods is making our favorite chocolate and nut spread more delicious and better for the planet.

 

Led by Adam Maxwell, Voyage Foods specializes in upcycling underappreciated ingredients—like waste and byproducts from other food manufacturing processes—into new, delicious, and nutritious products. Focusing on foods vulnerable due to climate change and supply chain instability, like our beloved chocolates, Voyage Foods is on a mission to ensure that the flavors we love are future-proofed and accessible to all.

Recently, the company unveiled its latest innovation: bean-free coffee that’s over 40% cheaper than traditional coffee. This provides manufacturers with price stability that results in significantly better margins.

In this interview with CEO Adam Maxwell, we explore the innovative work of FoodTech 500 alum Voyage Foods, their unique technology for upcycling waste and byproducts into delicious and nutritious foods, the challenges they face in product development, and their vision for a more sustainable food system.

 

This interview has been edited for clarity and concision.

 

Forward Fooding: How would you explain your job to someone outside FoodTech/ Agtech?

Adam Maxwell: We developed a new technology that works on underappreciated ingredients, such as waste and byproducts from other food and beverage manufacturing processes, and then upcycles those ingredients into new foods that are still delicious, nutritious, and better for our planet. We mainly focus on foods that are vulnerable due to climate change and unstable supply chains, so the flavors we love can be future-proofed and more easily accessible forever. 

My job is managing all the factors that go into accessibility: keeping our products affordable, widely available to consumers and business partners, sustainably produced, and friendly to all dietary needs. 

Forward Fooding: How did the partnership with Cargill come about, and what role has it played for your company?

Adam: Cargill is now our exclusive global B2B distributor for cocoa-free chocolate and nut-free spreads and has committed to co-create a line including coatings and fillings, ice cream and chocolate confectionery categories. Cargill expects its customers are looking for more stable pricing, less reliance on raw materials that are subject to market volatility, plus lower carbon-footprint ingredients, particularly in Europe where there is more concern about sustainability. We’re also an option for Cargill clients who are looking for alternatives to nut-based products, and products that are top 9 allergen-free. 

Courtesy of Voyage Foods

 

Forward Fooding: Congratulations on your recent $52 million funding round! How will this impact the future trajectory of Voyage Foods?

Adam: Thanks! This funding is earmarked to scale our capacity. We were facing greater than anticipated consumer and commercial demand for products in B2B, foodservice, and retail distribution channels. This capital will fund expanded manufacturing facilities and increased headcount so we can continue to deliver on opportunities that are in front of us.

Forward Fooding: What’s the biggest challenge in your business?

Adam: The biggest hurdle in the development of our products was building up the flavor of the ingredients we were working with, while reducing any unexpected characteristics. For example, sunflower kernels are naturally green and have a grassy note, both of which could be perceived as out of place in a nut spread. By treating the seeds in a specific way, using our proprietary technology, we were able to give the seeds a deep nutty and roasty flavor, analogous to a traditional nut spread.

Forward Fooding: What’s your vision of the future of food & how do we get there?

Adam: I would like to see us future-proof the food system without Frankenfoods. I believe there is a great appetite for food tech that is also healthy and natural—whatever “natural” may mean to someone. We’re choosing a route that includes wholesome, abundant ingredients like seeds and grains, and upcycling underutilized ingredients. That is surely not the only route, but it’s a route that helps sustainably feed a growing population without imposing more stress on cultivation and production. 

 

To learn more about the 2023 FoodTech 500 ranking and global FoodTech ecosystem insights, visit forwardfooding.com/foodtech500.

 

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