Colorado-based plant-based meat company Meati Foods is facing a financial crisis after its lender unexpectedly pulled funding, putting 150 jobs at risk and threatening the closure of its manufacturing facility in Thornton, CO. Despite the lender's actions, the company is still operating and seeking new financing to avoid layoffs and continue production. Meati Foods, known for using mycelium as a protein source, had received significant investments, including a $150 million Series C funding round in 2022 to support expansion.

The company, led by CEO Phil Graves, achieved significant growth with new product launches and placements in major retailers, garnering support from celebrities and athletes. However, despite its successes, the recent financial turmoil highlights the challenges within the alternative protein industry and underscores the need for stable financing to sustain operations and growth in the market.