Weekly Roundup: Replicating casein with new tech, 3D bio-printing advances cultivated fish
06 Jan 2023 --- This week in industry news, Liberation Labs closed a US$20 million seed round of funding to develop alternative proteins at scale. Meanwhile, Olam Group completed a US$1.24 billion sale of a substantial minority stake in Olam Agri, and Steakholder Foods received its first grant to develop 3D-printed structured eel and grouper products with Singaporean cultivated fish and seafood company Umami Meats.
In brief: Business moves
Liberation Labs’ latest funding round was led by Agronomics and Siddhi Capital and includes CPT Capital, Thia Ventures, 8090 Industries and Echo. Funds will be used to purchase and develop a site on which to build its first commercial-scale Launch Facility. Once completed, it will have a fermentation capacity of 600,000 liters with a fully dedicated downstream process. Liberation Labs is projecting commissioning and commercial production of its first facility by the end of 2024.
Olam Group’s wholly-owned subsidiary, Olam Holdings Pte., has completed the sale of a minority stake in Olam Agri to the SALIC International Investment Company for US$1.24 billion. The transaction values Olam Agri at an equity valuation of US$3.5 billion. Olam Group will continue to hold a majority stake of 64.57% in Olam Agri. Additionally, Olam Agri and Saudi Agriculture and Livestock Investment Company have entered into a Strategic Supply & Cooperation Agreement, which is expected to accelerate Olam Agri’s access to the large and high-growth Middle East markets.
In brief: Plant-based highlights
Steakholder Foods has received its first grant to develop 3D-printed structured eel and grouper products with Singaporean cultivated fish and seafood company Umami Meats. The initiative is being
AFT has developed a technology to produce alternative proteins replicating casein.funded by a grant from the Singapore Israel Industrial R&D Foundation, a cooperation between – Enterprise Singapore (ESG) and the Israel Innovation Authority. Its partnership with Umami Meats offers an opportunity for market entry in the only country where cultivated meat has regulatory approval. The project’s prototype, a structured hybrid grouper product, is expected to be completed by the first quarter of this year. It will be printed using Steakholder Foods’ proprietary 3D bio-printing technology and bio-inks customized for Umami Meats’ cells. Although much R&D continues to gather pace in the burgeoning cultivated meat and fish industry, Singapore has been the only country to allow the commercialization of products, proving to be a hub for the cell-based movement.
Plant-based player Heura has launched two new sustainable plant-based SKUs – F’sh Fillet and F’sh Fingers. Low in saturated fat and rich in high-quality protein, both F’sh Fillet and F’sh Fingers provide 40 mg of omega 3, which supports brain health and vision. The company is filing its first patents, with new technology slated to debut later this year.
The Real Greek, a UK-based group of Greek restaurants, has partnered with plant-based meat brand Eatplanted to launch a Veganuary Menu at all its restaurants across the UK throughout this month. Designed by Michelin Star-awarded Greek chef Nikos Karathanos, will offer vegan plates that combine The Real Greek’s classic Aegean twist with Eatplanted’s meat alternatives using only natural and clean ingredients.
Armored Fresh Technologies (AFT) has developed a technology that can produce alternative proteins that replicates casein. The company has applied its alternative protein to plant-based materials to create plant-based emulsifying proteins. AFT has attracted US$1 million in seed investment while its US subsidiary was established. The company is focused on developing plant materials that can function like animal protein using 100% plant-based raw ingredients, with the ultimate goal of replacing animal proteins with plant-based materials. According to AFT, this technology that can replace casein emphasizes the theory that it can produce substitutes for all kinds of animal dairy products, such as cheese, ice cream and yogurt, by using only oxygen and water.
Colorado-based Rasa has unveiled Classic and Café Rasa, two adaptogens and mushroom beverage mixes encouraging coffee drinkers to instantly enjoy a functional drink. Classic Rasa is robust, roasty and rich, according to Rasa. The richness of roasted chicory root, the sweet coffee notes of roasted date seed, and the earthy, nutty flavor of roasted burdock root make up the base of these blends, while the adaptogenic herbs add further roundness, sweetness and herbal notes. It features six adaptogens: red Asian ginseng, cordyceps, Rhodiola, gynostemma, Shatavari and maca. Café Rasa blends
Rasa has introduced Classic and Café Rasa. certified organic and Fair Trade freeze-dried coffee from Chiapas, Mexico, with adaptogens that soften coffee’s negative impacts while supplementing caffeine’s fatigue-fighting abilities.
In brief: Acquisitions
Monchy Food Company (MFC) has finalized the acquisition of the cashew processing plant Amama Farms in Tandahimba, Tanzania. With this acquisition, MFC, a group of companies active in the import, processing, packing and distribution of nuts, seeds, dried fruits and superfoods, strengthens itself with one of the largest cashew processing plants in Tanzania and reinforces its position in the nut market.
In brief: Appointments
Thai Union has appointed Jon Burton as the business unit director of European Marine Protein. Burton will be responsible for developing a joint strategy across Europe to capitalize on marine protein opportunities in the region while leveraging Thai Union’s global R&D and commercial resources.
Oterra has announced the addition of Vera Karmebäck to the team as its first global sustainability lead. She will enhance the international profile of the business, having been named a UN Global Compact SDG Pioneer in 2022.
In brief: Miscellaneous
Walmart’s drone delivery program is soaring into the new year, having completed its intended expansion plans for 2022. The company now operates, with its vendors, 36 drone delivery hubs across seven US states, including Arizona, Arkansas, Florida, North Carolina, Texas, Utah and Virginia. Over the past year, Walmart has safely completed more than 6,000 deliveries to customers in as little as 30 minutes. The top five items delivered via drone from Walmart were, in order, Great Value Cookies and Cream Ice Cream 16 oz, 2lb Bag of Lemons, Freshness Guaranteed Hot Rotisserie Chicken, Red Bull 8.4 fl. oz, and Bounty Select-a-Size Paper Towels. Currently, 85% of items in a Walmart Neighborhood Market meet the ten lb weight and volume requirements for drone delivery.
Online supermarket Picnic has analyzed the data of approximately one million households in the Netherlands. Cucumbers, semi-skimmed milk and bananas are still in the top three most sold products, remaining the same as 2022. Furthermore, vegetables such as zucchini, broccoli, peppers and avocado are still popular. So-called “fast climbers,” products for which there was suddenly more demand compared to last year, include vegetarian products and bake-off rolls and peanut butter. Picnic customers increasingly ordered foreign products such as mozzarella, mini Turkish pizzas and garlic sauce.
By Elizabeth Green
