Eat Beyond Global Holdings Inc., an investment issuer focused on the global plant-based and alternative food sector, announced that its portfolio company, San Francisco-based Eat Just Inc., is the world’s first company to have its lab-grown meat served in a restaurant.
Eat Just is a food tech company that produces meat and egg substitutes, and recently became the first company approved to sell its lab-grown chicken product, GOOD Meat Cultured Chicken, in Singapore. Singapore is the first government to allow the sale of cultured meat.
The chicken will be served at restaurant 1880 in Singapore as a part of a trio of sample dishes that will sell for approximately $23.
“Eat Just is paving the way for the cellular agriculture industry, which has the potential to completely transform our food systems today to make them more sustainable and humane,” said Patrick Morris, CEO of Eat Beyond. “Singapore is a market that we have been watching closely and it is truly leading the way by driving forward with the adoption of this technology. With the country’s small geographic footprint, it should come as no surprise that the country is seeking alternatives to traditional agriculture.”
Singapore’s government is aiming to have 30% of its food demand met by local agricultural production in the next decade, and its strategy to do so incorporates technology such as cellular agriculture.
“The end product, cultured meat, is still fairly expensive as production costs are high, but once the cost of production can be decreased, I believe that we will see this industry grow rapidly in the near future, it is only a matter of time,” added Morris.
Eat Beyond is committed to working closely and taking a hands-on approach to driving the growth of its portfolio companies, including Eat Just.
Eat Beyond’s portfolio also includes two additional cellular agriculture companies. TurtleTree Labs, which is recreating the full composition, functionality, and taste of milk by developing the technology to produce the unique components of milk sustainably; and SingCell, which offers a proprietary platform to enable global alternative meat companies to develop scalable processes for clean meat manufacturing.
