Frosta launches vegan frozen fish analog; Steakholder Foods avoids Nasdaq delisting

SeafoodSource is closely following the plant-based and cell-based seafood alternatives market by compiling a regular round-up of updates from the sector.

- Cell-cultured seafood company Steakholder Foods announced it has regained compliance with Nasdaq Stock Market for a minimum bid requirement. 

On 8 August, the Rehovot, Israel-based company received a letter from Nasdaq confirming their share price was high enough. In order to qualify for the minimum bid requirement, the company reached the USD 1.00 (EUR 0.91) threshold for 30 days straight. 

"The company had previously announced on 27 March it was notified by Nasdaq that it was not in compliance with the minimum bid price requirement set forth in Nasdaq Listing Rule 5550(a)(2), as the closing bid price of the Company's American Depositary Shares ("ADSs") had been below USD 1.00 for more than 30 consecutive business days,” Steakholder said in a release.

- Bremerhaven, Germany-based frozen food manufacturer Frosta launched its NPD vegan fish fingers earlier this summer across all German retailers. 

After three years of development, the fish analog was launched in June 2023, according to the Vegconomist. The company had a challenging time developing the fish analog without thickening agents and instead used methylcellulose.

“In addition to classic dishes such as chicken fricassee, Germany’s most popular frozen dish, plant-based innovations such as vegan Asian street food dishes were able to arouse consumer curiosity,” Frosta Marketing Director Sebastian Bernbacher said.

Frosta describes the frozen fish analog as “indistinguishable” from the classics.

- South Korean plant-based analog company UNLIMEAT is expanding its line of plant-based tuna analogs, the Vegconomist reports. 

The company, which manufactures plant-based pulled pork and Korean barbeque analogs, is introducing the new plant-based tuna analogs in three flavors: original, vegetable tuna, and red pepper tuna. 

An official launch date has not been announced, but UNLIMEAT CEO Keum Chae Min said it would be sometime in August 2023. 

Photo courtesy of Steakholder Foods