Eat Beyond Portfolio Company Eat Just is the First to Earn National Approval for Cultured Meat in Singapore
Eat Just Inc. is a global leader with its process of making clean, sustainable meat and eggs
VANCOUVER, BC, Dec. 4, 2020 /CNW/ - Eat Beyond Global Holdings Inc. (CSE: EATS) (OTCPK: EATBF) (FSE: 988) ("Eat Beyond" or the "Company"), an investment issuer focused on the global plant-based and alternative food sector, is announcing that its portfolio company, Eat Just Inc., a San Francisco-based food tech company that produces meat and egg substitutes, has been approved to sell its lab-grown chicken product in Singapore. Singapore is the first government to allow the sale of cultured meat.
"Cellular agriculture technology makes it possible to produce meat without the need to actually slaughter any animals," said Patrick Morris, CEO of Eat Beyond. "The end product is very similar, but it is made without the vast inputs and negative externalities associated with modern factory farming. Singapore's small geographic footprint and advanced economy have made it a hotbed for cellular agriculture and food tech innovation, and truly the global leader."
Singapore's government is aiming to shift its food production so that 30% of food demand will be met by local agricultural production in the next decade. At present, Singapore's 5.7 million people are highly reliant on other nations, with only 10% of food being produced domestically.
"Lab-grown meat is more humane and sustainable and doesn't require large amounts of land as traditional agriculture does. The next challenge that must be overcome in this industry is to work out how to reduce the cost of production, as it is currently still very expensive to produce these products," added Morris. "I believe that we will see this breakthrough in the near future, it's just a matter of time."
Eat Just, is currently a private company, but has expressed that it plans to pursue an initial public offering in the U.S. Eat Beyond is committed to working closely with its portfolio companies and is very hands-on, offering support, sharing industry connections, and providing expertise.
Eat Beyond's portfolio also includes TurtleTree Labs and SingCell. TurtleTree is recreating the full composition, functionality, and taste of milk by developing the technology to produce the unique components of milk sustainably as well as integrating those components into products. SingCell offers a proprietary platform to enable global alternative meat companies to develop scalable processes for clean meat manufacturing.
About Eat Beyond Global Holdings
Eat Beyond Global Holdings Inc. ("Eat Beyond") (CSE: EATS) (OTCPK: EATBF) (FSE: 988) is an investment issuer that makes it easy to invest in the future of food. Eat Beyond identifies and makes equity investments in global companies that are developing and commercializing innovative food tech as well as plant-based and alternative food products. Led by a team of food industry experts, Eat Beyond is the first issuer of its kind in Canada, providing retail investors with the unique opportunity to participate in the growth of a broad cross-section of opportunities in the alternative food sector, and access companies that are leading the charge toward a smarter, more secure food supply. Learn more: https://eatbeyondglobal.com/.
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SOURCE Eat Beyond Global Holdings Inc.
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