Borealis Foods, a Canadian startup, has a unique mission that differentiates it from many other consumer packaged goods (CPG) companies: to provide “highly nutritious meals at an affordable price.” Inspired by his experiences volunteering with Doctors Without Borders in Indian villages, Dr. Reza Soltanzadeh was motivated to address malnutrition, which ultimately led to the founding of Borealis Foods. Officially launched in 2019, the company recently celebrated its NASDAQ listing on February 8. With early backing from celebrity chef Gordon Ramsay, Borealis is set to expand the distribution of its high-protein brands, Chef Woo and Ramen Express, from the U.S., Canada, and Mexico into Europe. The company also plans to introduce nutritious snacks.
Looking ahead, Borealis Foods anticipates rapid growth as its co-founders, Soltanzadeh and Helg, embark on a mission that they believe no other food tech company has attempted. “While many food companies are using impressive science to offer alternatives at higher price points, which is commendable, that’s not our goal,” Soltanzadeh stated in an interview with Food Dive. “Our mission is to provide affordable protein-rich meals to those who lack access to such nutrition.”
In addition to being more affordable for low-income demographics, Borealis’s products are plant-based, high in protein, and shelf-stable. The flagship product, Chef Woo’s complete protein Ramen Noodles, contains 20 grams of plant-based protein sourced from ingredients like legumes and grains and is made with organic ramen. The noodles are also rich in iron and available in unique flavors like Roasted Chicken, Sweet Chili Togarashi, Spicy Tequila Lime, Braised Beef, and Thai Lemongrass.
Borealis aims to capture a significant market share in the ramen category, which is the most consumed packaged food globally. Ramen is convenient, shelf-stable, and has a high turnover rate for retailers. However, the company notes that the ramen market sees limited product differentiation, low retail profit margins, and minimal new product development. “We don’t need to reinvent the wheel,” said Soltanzadeh, emphasizing that while ramen is a staple, Borealis’s product is distinct due to its innovative technology.
Soltanzadeh and Helg define a complete protein as one that includes all nine essential amino acids. Borealis has developed a method to source protein from various ingredients, such as legumes and grains, to create their noodles. “This is particularly challenging, as we need to maintain the noodle experience that consumers enjoy, while also ensuring mass production,” they explained. “We are not aware of any large companies aiming to mass-produce affordable, healthy food.”
Borealis Foods went public on February 8 and held a ceremonial bell ringing on February 15. “We anticipate rapid growth for our company,” said Soltanzadeh, highlighting that access to capital will be crucial for expansion in the coming months. As a relatively new player in the market, Borealis believes it can succeed by offering a fundamentally different product than traditional Japanese ramen. “Unlike companies such as Beyond Meat and Impossible Foods, which don’t provide a truly distinct experience, our ramen boasts various attributes, including calorie count, protein levels, and manufacturing processes,” Soltanzadeh noted.
By offering consumers a similar culinary experience with significantly different nutritional attributes, Borealis sets itself apart. The founders believe that healthy food should be easily digestible, not leave one feeling tired, and ultimately be beneficial to health. “That’s what we have achieved at Borealis,” stated Helg and Soltanzadeh. Additionally, the company plans to incorporate now calcium citrate powder 8 oz into its future product line, further enhancing the nutritional profile of its offerings.