Bill Gates Likes Alt Proteins, Cultivated Meat in 48 Hours, and Ethical Caviar
Also: Insights on China's dynamic food innovation landscape
BIO BUZZ
🇧🇷 JBS, the world's largest meat processing company, is constructing Brazil's first food biotechnology research facility for cultivated meat
The JBS Biotech Innovation Centre, located in Florianópolis, aims to efficiently produce scalable cultivated meat at competitive prices and is set to open by the end of 2024.
The project involves a total investment of $62 million across three phases, including laboratory facilities, a pilot plant, and an industrial-scale plant.
JBS is forming a 25-member scientific team to manage the upcoming facilities and has already begun initial exploratory research for cultivated beef in provisional facilities.
Read full article - vegconomist
🇬🇧 Extracellular has opened Europe's largest contract pilot plant for cultivated meat and seafood
Based in Bristol, the facility aims to eliminate the need for cultivated meat companies to build their own pilot-scale facilities, saving money and time.
The pilot plant currently has an operational capacity of 200L, with plans to expand to 2,000L by December 2023. It can produce up to 100t of cultivated meat annually.
Extracellular, in collaboration with Multus, offers intermediate and mid-scale capabilities to support cell ag companies in developing products faster and at lower prices, helping them focus on achieving consumer products at affordable prices.
Read full article - vegconomist
🐟 Marinas Bio is developing cultivated caviar as an environmentally responsible alternative to traditional caviar
Traditional caviar production involves slaughtering sturgeons, but cell-based caviar offers a slaughter-free and sustainable option, with the potential to shorten production cycles and enhance quality.
Sturgeon species, particularly Sevruga, are critically endangered with 85% at risk of extinction. Also, the traditional caviar production methods are inconsistent in terms of quantity and quality.
The end of the COVID-19 pandemic has led to increased interest in luxury food items like caviar, and consumers are seeking high-quality and unique culinary experiences, which cultivated caviar aims to provide.
Read full article - Food Ingredients First
🇮🇱 ProFuse Technology has developed a scaffolding 3D growth technology that enables cultivated meat production in 48 hours
This innovation also increases the protein content of muscle tissue by 5 times compared to traditional meat, offering a protein-rich alternative without genetic modification.
The company's proprietary media supplements and protocols support sustainable and ethical alternatives to conventionally farmed meat, focusing on effective muscle production in a 3D environment.
“It is essential to recognize that the heart of meat production lies in muscle growth, as meat equals muscle. The ability to cultivate meat cost-effectively and at scale hinges on adopting 3D growth methodologies involving scaffolds and microcarriers.” - CEO, Guy Nevo Michrowski
Read full article - vegconomist
🥚 Formo is set to introduce a “lab-brewed” alternative to eggs in the foodservice industry in Europe later this year
Formo's egg alternative, called 'What Came Third,' is produced using precision fermentation with a microbe called Aspergillus oryzae (koji mould), which offers the same functional properties as egg proteins, avoiding the need for novel food regulations in the EU.
The German company conducted a peer-reviewed study, finding that a majority of consumers in Germany, Singapore, and the US are willing to try precision-fermented egg alternatives, with the highest interest coming from Germany (61%).
Formo acknowledges that their alt-eggs may initially have a price premium compared to traditional chicken eggs, but they expect costs to decrease as production scales up, similar to the trajectory of clean energy technologies.
Read full article - Green Queen
🥩 The biopharma playbook for scaling up doesn't work for food and the future of cultivated meat demands a radical reinvention
The unit economics of cultivated meat continue to improve with companies that have lowered media costs and achieved high yields. Companies that are able to achieve media costs of $1-1.5/litre can compete with premium animal products like bluefin tuna and wagyu beef.
The primary challenge facing the cultivated meat industry is scaling up production. Scaling requires addressing both the engineering challenges of mass production and the financing challenges of building large factories. The traditional biopharma playbook for scaling is inadequate for the food industry.
Ark Biotech has introduced Factory 2.0, which reduces upstream costs by 65% or more. Factory 2.0 features novel bioreactors that are cost-effective, scalable to millions of liters, and equipped with intelligent decision-making capabilities to enhance yield.
Read full article - Ark Biotech
🍞 Equii launches high protein and low carb bread, which contains all essential amino acids per slice
The bread contains 10 grams per slice, and provides all 9 essential amino acids, making it a convenient option for meeting protein needs.
The company's proprietary approach involves using microbial proteins to ferment grains, resulting in high-protein grain flours with 3-6 times more protein and fewer carbohydrates than regular flour.
Originally known as Cella Farms, Equii’s versatile products cater to both athletes seeking performance fuel and health-conscious consumers looking for nutritious options.
Read full article - The Food Business News
MACRO STUFF
🇸🇬 Meat consumers in Singapore, where cultivated meat was first approved, prefer the term ‘cultivated meat’ over others
Among the terms ‘lab-grown meat’, ‘animal-free meat’, ‘cultured meat’, ‘clean meat’ or ‘cell-based meat’, ‘cultivated meat’ emerged as the preferred name and was associated with positive attitudes towards this novel food.
Different frames (health, society, environment, and animal welfare) had varying effects on acceptance of cultivated meat, with animal welfare and environmental benefits being particularly effective among Buddhists.
Surprisingly, there was no consistent relationship between age, perceived naturalness, and acceptance of cultivated meat, and those who viewed it as unnatural were more willing to consume it.
Read full article - Singapore Management University
🇦🇪 UAE announces a food and agriculture strategy ahead of hosting COP28 to boost sector's value to $10B and create 20,000 jobs by 2025
Strategy focuses on seven pillars, including localizing agriculture, becoming a global regulatory powerhouse, and reducing reliance on food imports.
UAE aims to improve food security and local production despite its heavy dependence on food imports.
The strategy aligns with the goal of making the UAE one of the world's most food-secure countries by 2051 and improving its Global Food Security Index ranking.
Read full article - Green Queen
📉 What happened to the Beyond Meat and Oatly stocks and what you need to know before your company IPOs
Beyond Meat and Oatly faced challenges due to their high valuations, which were more in line with tech companies than food industry peers. The correction in valuation led to significant stock price declines.
The shift in market sentiment from growth-seeking to earnings scrutiny affected both companies. Without earnings, analysts struggled to evaluate them, leading to a lack of confidence and stock downgrades.
Before going public, companies should prioritize profitability or at least close to profitability, have a strong understanding of their business trajectory, and focus on meeting financial performance targets rather than just emphasizing visionary goals.
Read full article - vegconomist
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BIO BUCKS
🇦🇹 Kern Tec raised €12 million in a Series A funding round to scale up upcycled stone fruit pits production and expand into the US market
The Austrian startup upcycles stone fruit pits like apricots, plums, and cherries that would otherwise go to waste to create oils and ingredients for plant-based dairy products. Its product range includes dairy-free ice cream, seed oils, and apricot-kernel-based milk and chocolate spread.
The company contributes to a circular food system by valorising discarded ingredients and aims to commercialise its products for both B2B and B2C applications.
Kern Tec has developed a safe processing process to reduce cyanide content in its products, making them safe for consumption. They plan to focus on alternative dairy products, leveraging the similarity of their seeds to nuts to create new dairy alternatives.
Read full article - Green Queen
🇫🇷 La Vie hits €1 million crowdfunding target in just over an hour
The French plant-based pork producer has experienced impressive year-on-year growth of 379% and sold 2.5 million products over the past 18 months, demonstrating strong demand for its plant-based offerings.
La Vie's bacon alternative is available in 13 European countries and has seen significant success, particularly in the UK, where it has achieved over 144% growth and launched in major retailers.
The company's strategic approach, combining proprietary technology and a brand centered on pleasure, sets it apart in the food tech industry, and it aims to unite a global community of change-makers who resonate with its vision.
Read full article - vegconomist
💰 Danone Institute North America awarded five teams $50,000 each to develop community-based projects on sustainable local food systems
The grant program focuses on promoting resilient and sustainable local food systems in five communities in the United States and Canada addressing food challenges during times of inflation, climate change, and food insecurity.
DINA's Sustainable Food Systems Initiative aims to strengthen regional food systems, promote community health, and contribute to environmental well-being.
In addition to grant funds, the teams will receive training and support from DINA and may have a chance to win an additional $10,000 for the best communications plan.
Read full article - PR Newswire
SOCIAL FEAST
🫀 Consumers choose food with their hearts, not their heads
People choose their food based on emotions like pleasure, connection, and love rather than cognitive calculations. This emotional aspect should be acknowledged in the alt protein industry's communication strategies.
The alt protein industry is currently centred on technology, sustainability, and cognitive reasons for change. However, consumers primarily make food choices emotionally, so industry messaging needs to align with these emotional triggers.
To promote change in food choices, the industry must build a cognitive case for why change is necessary but communicate it differently to different people at various points, considering their emotional priorities and desires.
Read post on LinkedIn - Irina Gerry
🇨🇳 Insights on China's dynamic food innovation landscape
China's food innovation landscape is rapidly evolving, with active participation from large corporations, startups, academia, and policymakers. Governmental entities are hosting events, fostering cross-disciplinary collaboration, and showing a keen interest in the alternative protein space.
Industry leaders in China demonstrate agility and openness to change. They actively monitor consumer markets, introduce plant-based options, and are willing to adapt to evolving consumer trends, even considering a future without animal protein consumption.
Chinese plant-based manufacturers, particularly family-run businesses, are innovating rapidly and producing high-quality, affordable products. There is potential for collaboration and investment in these entities to drive change in the Chinese market.
Read post on LinkedIn - Yaqi G.
🤔 Can JBS's Gilberto Tomazoni and tech visionary Bill Gates find common ground on the meat-climate connection?
At Climate Week in NYC, Bill Gates spoke about the need to combat meat-related deforestation and methane emissions through innovation. He expressed optimism about new alternative protein products.
JBS CEO, Gilberto Tomazoni, mentioned the company's investment in plant-based and cultivated meat, but couldn't clarify how JBS plans to achieve "net zero by 2040." JBS's reluctance to disclose animal slaughter numbers raised concerns. Tomazoni believes feeding 10 billion people without expanding land use is possible.
Environmental groups pressured against JBS's NYSE listing. The meat industry should join the climate-friendly food transition promptly due to regulatory and technological pressures.
Read post on LinkedIn - Michal Klar
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EAR FOOD
🎙 A very transparent conversation with Shiok Meats’ Dr. Sandhya Sriram
Show: Green Queen in Conversation
Host: Sonalie Figueiras
Guest: Dr. Sandhya Sriram, co-founder and CEO of Shiok Meats
Sandhya talks about the challenges of scaling cultivated crustacean lines and the need for alternatives to serve the ever-growing demand for crustaceans amidst the overfishing crisis and the depletion of marine environments.
The industry experiences cycles of popularity, with a current focus on food tech and cultivated meat, but she acknowledges the need to manage expectations and avoid overpromising. The future of alternative proteins is promising, but the next few years will be about consolidation and survival of the fittest companies.
Educating consumers about the benefits and safety of cultivated meat is crucial, and transparency, patience, and data are essential to gaining consumer trust and acceptance.
🎙 The global food industry is worth $5 trillion, and Jim Mellon believes cellular agriculture is the key to its transformation
Show: Cultured Meat and Future Food Podcast
Host: Alex Shirazi
Guest: Jim Mellon, Founder of Agronomics
Jim's interest in cellular agriculture stems from his desire to reduce or eliminate intensive farming practices and his personal commitment to not consuming meat. He founded Agronomics, a London-listed investment company solely focused on cellular agriculture.
Jim discussed the rapid progress and regulatory approvals in the cellular agriculture industry. He mentioned regions like the United States, Israel, India, Australia, New Zealand, Canada, China, the UAE, and the UK as potential areas where cellular agriculture could gain approval and thrive.
Jim encourages people to see the immense potential in the future of food technology and urges entrepreneurs and farmers to embrace innovative solutions for a more sustainable and environmentally friendly food supply system.
THAT’S ALL FOR THIS WEEK!
Take care, and have an awesome week! 🙌🏾
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