Meati Foods, a producer of meat alternatives using fungal fermentation, has appointed Phil Graves as its new Chief Financial Officer (CFO). Graves brings years of experience supporting brands that align profitability with environmental and social responsibility, serving as the Chief Sustainability Officer at Bass Pro Shops after a seven-year career with Patagonia as the VP of Corporate Development. He also founded Patagonia’s corporate venture capital fund, Tin Shed Ventures, which invests in regenerating food systems, natural ecosystems, and the apparel industry.
“Meati’s MushroomRoot offers unprecedented innovation opportunities and exciting revenue possibilities”
Founded in 2017, Meati Foods uses its proprietary MushroomRoot ingredient to create cutlets and steaks. The company recently announced its retail expansion into Super Target stores in the US after debuting in Meijer last year, and its products are now available in over 3,600 locations nationwide.
Graves immediately steps into his role at Meati Foods, tasked with guiding the financial strategies to support the company’s omnichannel expansion. The company cites that his background in steering companies toward positive environmental impact without sacrificing profit positions him as a key asset for Meati’s growth.
Tyler Huggins, CEO and co-founder of Meati Foods, stated, “Phil understands how to drive a purpose-driven enterprise that also delivers on profit, and this ingenuity is invaluable for short-term successes and our long-term mission. As Meati builds on a tremendous inaugural year establishing MushroomRoot as a new, profoundly nutritious, and sustainable protein, Phil’s expertise will be a welcome addition to our executive team.”
Potential of MushroomRoot
Meati Foods “Eat Meati” line currently consists of four products: Classic Steaks, Carne Asada Steaks, Classic Cutlets, and Crispy Cutlets, made from 95% MushroomRoot, which is Meati’s patented version of mycelium.
Graves commented on the potential of Meati’s MushroomRoot, noting, “Meati’s growth over the past year has been astonishing, but what I find more impressive is their continued commitment to the sustainable development of MushroomRoot as a new food and Meati Foods as a commercial success.
“My experience at companies like Patagonia and Wild Idea taught me that prioritizing sustainable practices can boost the financial bottom line, and Meati’s MushroomRoot offers unprecedented innovation opportunities and exciting revenue possibilities. It’s a great opportunity to improve our food system in deep and lasting ways.”
