Vegetarians looking to get a burger fix have long been forced to settle for a substitute that bears little resemblance to a beef patty. Impossible Foods spent five years engineering a plant-based alternative that mimics the look, smell, texture and taste of beef. In fact, the company objects to you calling it a veggie burger. The burger's main ingredients are water, wheat protein, coconut oil, potato protein and leghemoglobin. Impossible Foods says it is better for your body and the environment than actual meat. The company claims creating their burger requires just a quarter of the water needed for beef, but delivers comparable protein and iron with no cholesterol, hormones or antibiotics. There is big money behind this effort. Khosla Ventures, Bill Gates, Google Ventures
Horizons Ventures, UBS
and Viking Global Investors are all investors in Impossible Foods. David Lee is Impossible Foods CFO and COO, he spoke with TheStreet's Sarah Solomon and told her the company is already working on plant based fish and chicken alternatives. They are launching the Impossible Burger in New York City with plans to introduce it on menus in Los Angeles and San Francisco before rolling it out to additional restaurants and grocery stores across the U.S. and overseas. As the company rolls out the burgers, they expect the price to eventually fall below the cost of commercial ground beef.