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McDonald's Testing Plant-based Burger P.L.T. In Canada

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Fast food giant McDonald's said Thursday that it will test a plant-based burger made with Beyond Meat patties in Canada, joining its rivals to cash in on the rising popularity of new plant-based meat alternatives.

Shares of alternative meat maker Beyond Meat are gaining almost 10 percent in Thursday's regular trading following the news, while McDonald's shares are rising 0.6 percent.

Starting September 30, McDonald's will conduct a 12-week test of the new plant-based burger called the P.L.T. in 28 restaurants in Southwestern Ontario. PLT stands for plant, lettuce and tomato.

The PLT is a plant-based burger on a warm and soft sesame seed bun. It has no artificial colors, flavors, or preservatives The burger will be priced at C$6.49 plus tax.

Several food companies are introducing new plant-based meat alternatives that are intended to satisfy the global demand for meat at a fraction of the environmental impact.

The strong demand for vegan options has prompted restaurants and fast-food chains to offer menu items that contain products from food companies such as Beyond Meat and its competitor Impossible Foods.

In August, Burger King rolled out its meatless Impossible Whopper sandwich at locations nationwide. This followed Burger King's partnership with Impossible Foods in April to test a new, plant-based version of its Whopper Sandwich that used Impossible Burger for its patties.

Kentucky Fried Chicken also said in August it was testing plant-based "fried chicken" in partnership with Beyond Meat. The new plant-based Beyond Fried Chicken is initially made available only at a single KFC restaurant in Atlanta, Georgia.

Canadian coffee chain Tim Hortons in June had started to offer Beyond Meat Breakfast Sandwiches at its nearly 4,000 restaurants in Canada.

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