Eat Beyond Portfolio Company Eat Just Secures $170 Million
VANCOUVER, BC, June 1, 2021 /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. ("Eat Just") has secured a $170 million (USD) funding round for its GOOD Meat subsidiary. Eat Just has an over $1 billion valuation and previously raised a $200 million (USD) financing round in March 2021.
The new funding will help GOOD Meat increase capacity and accelerate research and development for high-quality, real meat without slaughter. Cultured meat is created directly from animal cells, safe for human consumption. The meat is high in protein and essential amino acids, without GMOs or antibiotics, and is low in saturated fats.
"There is significant interest in and growth potential for cultured meat, pending regulatory approval from more government regulators globally," Morris said. "GOOD Meat offers a humane, safe product that is designed to feed the planet without the plethora of negative externalities associated with traditional factory farming."
GOOD Meat cultured chicken made history in 2020 for being the first cultured meat product sold to customers at a Singapore restaurant. Since that time, it has been available in a limited capacity on foodpanda, Asia's leading food and grocery delivery platform.
"GOOD Meat has the potential to radically disrupt current animal protein processes. The old model has a massive carbon footprint and consumes large amounts of water, land, and other resources while exposing the world to potential zoonotic diseases," added Morris. "We are excited to continue to be a part of the Eat JUST story and its impact on our food systems."
Learn more about GOOD Meat and subscribe for updates online: https://goodmeat.co.
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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.
For media inquiries, please contact: [email protected]; For investment inquiries, please contact: [email protected]; For further information, please contact Patrick Morris at [email protected] or (236) 521-6499
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