Meat-Based Rice, Meatly Nears Historic Milestone, and China’s Protein Production Ambitions
Meat-Based Rice, Meatly Nears Historic Milestone, and China’s Protein Production Ambitions
Also: Agrifood tech funding is down 12.5% YoY in H1 2024, but there are bright spots
Hi, welcome to issue #67 of the Better Bioeconomy newsletter. Thanks for being here!
Here’s my favourite quote that I came across while working on this week’s issue:
“We’re just in a consolidation [period for alternative proteins]. We’re in this for the long term, to make this succeed over the next two decades. It’s a tough time for the sector. But it’ll pull through.”
- Andy Jarvis, director of the Bezos Earth Fund’s Future of Food programme
Let’s dig into the latest developments in biotech, shaping the future of food! 🍽
BIO BUZZ
🤝 Umami Bioworks and IKP collaborate to accelerate cultivated seafood research and production
IKP Knowledge Park’s newly launched Centre for Smart Protein and Sustainable Material Innovation in Bengaluru announced an incubation collaboration with Umami Bioworks1.
The team based in India will handle the engineering and validation of the Singapore-based Umami Bioworks' plug-and-play manufacturing hardware.
India was chosen for its strengths in bioreactor engineering, process development, and large-scale production, making it ideal for Umami Bioworks' engineering and tech transfer teams.
Source: FoodTechBiz
🍚 Researchers in Beijing have developed lab-grown rice dishes embedded with meat cells to produce nutritious meals
The study, which is yet to be published in peer-reviewed journals, was led by the Beijing Academy of Food Sciences’ China Meat Research Centre. It produced lab-grown chicken and pork rice dishes that are said to look like regular varieties and release a combined aroma of meat and rice when cooked.
Using rice as a natural, edible scaffold for cell culture offers a safer and more cost-effective alternative to synthetic carriers, adding fibre, nutrients, essential amino acids, and animal proteins to the dish.
The process involves pre-treating rice and growing layers of chicken or pork cells on its surface, incorporating both muscle and fat cells to create a balanced nutritional profile.
Source: SCMP
🐶 Meatly nears historic first regulatory approval for cultivated meat sales in Europe
Meatly plans to launch cultivated dog food first, despite initial announcements of cat food, with approval likely to be received in end of July or early August 2024.
The product will be a hybrid of cultivated meat and plant-based ingredients, with % of cultivated meat “start slightly lower [than 20-30%] just because of limited supply”.
Meatly has raised £3.6M to date and is now closing a Series A round, aiming to demonstrate a low capex, fast route to commercializing cultivated meat. The startup's strategy contrasts with early "wave one" companies by focusing on minimizing costs and scaling up efficiently.
Source: Green Queen
📝 CULT Food Science wrote an open letter to the Florida Government, opposing cultivated meat ban
The letter emphasizes that cultivated meat is safe for consumption and environmentally friendly, highlighting its necessity in addressing climate risks and the need for sustainable protein production.
Jeff Bezos and the Bezos Earth Fund have committed to new facilities for cultivated meat research at Imperial College London and North Carolina State University. The US military also plans to use cultivated meat for troops.
The letter criticizes state-level policies that hinder the progress of cultivated meat, arguing that such regulations are based on misinformation and protect special interests.
Source: vegconomist
🧬 Biome Maker joined alliance to improve sustainable sugarcane production using DNA sequencing and AI to analyze soil microbiomes
The collaboration involves key stakeholders, like SADER, IICA, UNC-CNPR, Syngenta, Bonsucro, and Biofábrica Siglo XXI. The goal of the alliance is to provide farmers with the tools and knowledge to farm sugarcane sustainably.
Biome Maker’s BeCrop uses DNA sequencing and machine learning to analyze soil microbiomes. It provides insights on crop performance, disease threats, and sustainable soil management through the BeCrop Portal.
BeCrop technology enables farmers to tailor practices based on soil microbial composition, improving crop yields and promoting long-term environmental stewardship.
Source: iGrow News
MACRO STUFF
💪🏾 Bezos Earth Fund’s Andy Jarvis on alt proteins: ‘It’s a tough time for the sector. But it’ll pull through.’
The alt protein sector's rapid growth, driven by high expectations, led to a decline when those expectations weren't met. Unrealistic profit and timeframes caused VC to retreat as companies failed to deliver and consumer uptake lagged.
Despite $16B invested in alt proteins, this is minimal compared to $700B in global agricultural subsidies, with $200B annually for animal agriculture.
The focus has shifted to foundational R&D, following the pattern of major innovations like solar panels, which experience rapid growth followed by periods of consolidation.
Source: Green Queen
🇨🇳 How fixing protein production serves China’s domestic and global ambitions
The Ministry of Agriculture and Rural Affairs launched a new committee to boost food innovation, aligning with the National People’s Congress (NPC) goals. Premier Li Qiang and President Xi emphasized the importance of food security and technological empowerment in agriculture, advocating for self-sufficiency.
NPC deputy Xiong Tao advocated for comprehensive support for microbial proteins, including R&D funding, IP protections, market access, talent development, regulatory approval, and national promotion.
Reports highlight China's potential to lead in alt protein production as it has done for solar panels and lithium-ion batteries. This could reduce the global protein deficit and support emissions-reduction goals.
Source: GFI APAC
🇺🇸 Democrats are more positive about cultivated meat than Republicans
Democrats have a significantly higher net-positive opinion of cultivated meat, with a net-positive share of 36 believing it is good for the environment.
Republicans and independents generally have a more negative or neutral view on cultivated meat, with only a net-positive of 9 for independents and 7 for Republicans on its environmental benefits.
Democrats show slight positivity about the nutrition (net 15) and health benefits (net 10) of cultivated meat, whereas Republicans have negative views on both aspects (-7 for nutrition, -4 for healthfulness).
Source: Green Queen
😎 Tufts University’s Dr. David Kaplan has ‘zero worries’ about cultivated meat’s commercial viability
Despite current challenges, Tufts University Center for Cellular Agriculture (TUCCA) director Dr. Kaplan remains optimistic about the long-term viability, viewing the industry's current contraction as a normal cycle for new technologies.
Significant progress in cell line availability and technical tools has been made, with Kaplan highlighting various cell lines now accessible for R&D, reducing initial barriers.
Production costs have drastically decreased from $300,000 for a quarter-pound burger a decade ago to potentially $10-20 per pound today. Emerging technology, such as self-priming cells and light-sensitive protein control, are further improving efficiency and feasibility in cell cultivation.
Source: AgFunder
BIO BUCKS
📉 Agrifood tech funding is down 12.5% YoY in H1 2024, but there are bright spots
Preliminary data from AgFunder shows that agrifood tech startups have raised $7B across 427 deals in H1 2024, compared to $8B across 934 deals in H1 2023. A significant portion of the 2024 total comes from a $700M Series C raise by Wonder, a food delivery startup.
Median deal sizes varied across different funding stages compared to the same period in 2023. Series A deals decreased from $7.5M to $6M, while late-stage funding increased from $25M to $29M. Seed funding saw a significant decline from $7M to $1M.
Innovative Food startups, primarily alt protein companies, raised $828M in H1 2024, making it one of the top-funded categories alongside Ag Biotech and In-Store Retail & Restaurant Tech.
Source: AgFunder
SOCIAL FEAST
🥳 Incremental and imperfect progress in environmentalism should be celebrated
Absolute perfection in environmentalism is unattainable and counterproductive; incremental and imperfect changes should be recognized and valued.
Blaming or shaming individuals for not achieving perfection in their environmental efforts discourages progress and participation.
The focus should be on celebrating progress and the efforts of those dedicated to environmental causes, rather than seeking unattainable perfection.
Credits: Irina Gerry
🤔 Which country is the best to launch novel food products?
The best country for launching innovative food or feed ingredients depends on various factors like product versatility, budget, existing expert network, and connections in the target country.
Important regulatory aspects to consider are whether the ingredient falls under generic or specific legislation, the necessity of pre-market approval, and the potential for mutual recognition in other jurisdictions.
Differences in food regulation are influenced by local culture, politics, religion, ethics, and food security, making it subjective to label any one jurisdiction as the best.
Credits: Mathilde Do Chi
MORE ON BETTER BIOECONOMY
💬 My conversations with bioeconomy innovators
Biotech consultant and ex-CSO of Vow, James Ryall: Bridging Science and Business to Support Startups Using Biomanufacturing
Synonym's co-founder, Joshua Lachter: Financing and Developing Infrastructure for the Bioeconomy
Bioshyft's founder, Gerrit Feuerriegel: Connecting Innovators, Investors, and Incumbents to Drive the Bioeconomy
Terra Bioindustries’s CMO, Rebecca Palmer: Turning Agrifood Byproducts Into Nutrient-Rich B2B Ingredients
That’s a wrap. Thank you for taking the time to read this issue!
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Disclaimer: Better Bite Ventures, where I work, is an investor of Umami Bioworks.