Tyson Foods, the largest US meat processor, has invested in an Israeli biotech company developing a way to grow affordable meat in a laboratory that takes live animals out of the equation.
Future Meat Technologies focuses on producing fat and muscle cells that are the core building blocks of meat, and it is one of several firms working on technology to match rising demand for meat without adding more pressure on land from livestock.
The firm's founder and chief scientist, Yaakov Nahmias, said that cultured meat typically had a production price of about $10,000 per kilo, but so far, his company had reduced that to $800 per kilo and had "a clear roadmap to $5-$10 per kilo by 2020".
Seed Investment
Tyson's venture capital arm has supported the Jerusalem-based start-up by co-leading $2.2 million in seed investment.
"We continue to invest significantly in our traditional meat business, but also believe in exploring additional opportunities for growth that give consumers more choices," said Justin Whitmore, Tyson's executive vice-president for corporate strategy.
In December, Tyson raised its stake in plant-based protein-maker Beyond Meat.
Demand for meat is expected to double between 2000 and 2050, when the earth's population is set to surpass nine billion, and proponents of growing meat in the lab say that it is the only way to meet such demand without destroying the environment.
A study by Oxford University and the University of Amsterdam estimated that cultured meat would produce 96% less greenhouse gas, consume 82%-96% less water, and virtually eliminate the land requirements needed to raise livestock.
News by Reuters, edited by ESM. Click subscribe to sign up to ESM: European Supermarket Magazine.
