Canada-based Borealis Foods has a particular mission, one that not many other CPGs bank on — to make “highly nutritious meals at an affordable price.”
As a doctor, Reza Soltanzadeh had volunteered with Doctors Without Borders in the villages of India. The malnutrition that he witnessed stayed with him and eventually inspired his mission behind Borealis Foods.
The startup officially launched in 2019 and just celebrated its listing on NASDAQ Feb. 8. With an early investment from celebrity chef and restaurateur Gordon Ramsay, it is poised to expand the distribution of its high-protein Chef Woo and Ramen Express brands from the U.S., Canada and Mexico into Europe. The company also has plans to launch into nutritious snacks.
With lots planned ahead, Borealis Foods believes that its growth will be rapid, as the team sets out to do something that — to co-founders Soltanzadeh and Helg’s knowledge — no food tech company has before.
“There are a lot of food companies out there who have fabulous science and they are bringing alternative options to people at a higher price point, which is great — that’s not a bad thing, but that’s not our mission,” said Soltanzadeh in an interview with Food Dive.
“Our mission is to have meals that bring protein to people who cannot afford it and do not have access to it — we are affordability-focused," he said.
Along with being more affordable than other offerings in the space, which according to Soltanzadeh and Helg means being accessible to the lowest-income demographics of a community, Borealis’s products are plant-based, high in protein and shelf-stable.
Its first product, Chef Woo’s complete protein Ramen Noodles, has 20 grams of plant-based protein with ingredients like legumes and grains, and is made with organic ramen while being a good source of iron, the company said. The ramen also comes in a variety of unique flavors like Roasted Chicken, Sweet Chili Togarashi, Spicy Tequila Lime, Braised Beef and Thai Lemongrass.
Why ramen?
Borealis had its sights set on breaking big into a market, and ramen is the most widely consumed packaged food on the market. It’s also shelf-stable, convenient for consumers and has one of the highest turnover rates for retailers. The ramen category has limited product differentiation, low retail profit margins, and little to no new product development, the company said.
“We don’t have to reinvent the wheel,” said Soltanzadeh, “though the product is a staple in many consumers' diets already, Borealis’ product is very unique to its technology.”