… Future Meat Technologies has raised US$ 347 million in Series B round of financing. The round was co-led by ADM Ventures, the venture investing arm of ADM, while other investors included Tyson Ventures…

 

 

Largest investment means mass production of cultivated meat

 

Natalie Berkhout, Poultry World

Jan 10, 2022  

 

Just shy of US$ 350 million has been raised by a cultivated meat producer in Israel which “paves the way for massive expansion” for cultured chicken meat production.

 

After opening the world’s first cultivated meat production line in Israel earlier this year, just 3 years after its launch, Future Meat Technologies has raised US$ 347 million in Series B round of financing. The round was co-led by ADM Ventures, the venture investing arm of ADM, while other investors included Tyson Ventures.

 

The company has also announced that it is now producing cultivated chicken breast for US$ 1.70 per 110 g chicken breast (US$ 7.70 per pound), which is considerably less than what it had achieved some months ago. Professor Yaakov Nahmias, the company’s founder and president, notes that the technology paves the way for a “massive expansion of operations”, adding that the team will break ground on the “first-of-its-kind, large-scale production facility” in the US in 2022.

 

Apollo programme of the 21st century

 

“We have consistently demonstrated that our single-cell technology and serum-free media formulations can reach cost parity faster than the market anticipates,” added Nahmias, who previously described the space as the Apollo programme of the 21st century.

 

“It is our mission to create a more sustainable future for coming generations. Our technology can produce meat on a fraction of the land currently used for meat production.” The company says its technology is based on stainless steel fermenters which continuously remove waste products generated by “immortal” tissue cells. This means that a constant physiological environment that supports rapid, natural, proliferation of animal cells.

 

First industrial cultured meat production facility ...

 

Sustainability ...

 

Consumer adoption of cultivated meat ...

 

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https://www.poultryworld.net/Meat/Articles/2022/1/Largest-investment-means-mass-production-of-cultivated-meat-839858E/