The Kraft Heinz Co. announced Tuesday that it is partnering with Chile-based food tech start-up TheNotCompany to focus on plant-based innovation.

A press release from Kraft Heinz noted that “both Kraft Heinz and NotCo share a desire to change the world for the better and believe that working together they can and will accelerate adoption of plant-based foods."

Carlos Abrams-Rivera, the U.S. zone president for Kraft Heinz, told CNBC’s "Squawk Box" on Wednesday the plant-based options include hot dogs and other Oscar Mayer products. Its new plant-based products will take on TheNotCompany's “not” phrase and be titled “Not Hot Dogs.”

“It’s thinking about whether you have Oscar Mayer hot dogs and Oscar Mayer ‘Not Hot Dogs,’ ” Abrams-Rivera said.

Many food companies have embraced plant-based products as demand for meatless options grows.

“Now we will have the advantage of bringing the products you love from the brands you trust also with a plant-based option,” Abrams-Rivera added.

The two companies noted in the press release that they recognize that when it comes to plant-based options there are currently “barriers in taste, variety and availability.” Their plan is to put a focus on these issues and work on excelling in such categories.

In recent years, Kraft Heinz has sought to revamp its image. In 2020, the food giant had mentioned it wanted a branding facelift through new packaging, simpler ingredients and different marketing strategies.

“The joint venture with TheNotCompany is a critical step in the transformation of our product portfolio and a tremendous addition to our brand design-to-value capabilities,” Kraft Heinz CEO Miguel Patricio said in the press release.

“It helps deliver on our vision to offer more clean, green and delicious products for consumers. We believe the technology that NotCo brings is revolutionizing the creation of delicious plant-based foods with simpler ingredients,” he said.

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