Thailand’s CPF has entered a partnership with Israeli cultured meat start-up Future Meat Technologies to develop “hybrid” products.
Described by Bangkok-based Charoen Pokphand Foods (CPF) as a “first-of-its-kind” tie-up, the two companies plan to develop “hybrid cultured-meat products” for the Asian market.
CPF is engaged in the production of meat and seafood but recently launched the plant-based protein brand Meat Zero. Last year, the company bought a 50% stake in meat substitute business Well Well Invest in Poland.
Just Food is awaiting a response from Future Meat to clarify if hybrid implies a mixture of plant-based and cultured proteins.
Prasit Boondoungprasert, CPF’s CEO, said: “After the first launch of CPF’s plant-based products under the Meat Zero brand last year, we have received exceptional recognition from the market both in Thailand and the Asian market. This year we will be rolling out to other parts of the world, including USA and the European markets.”
Prasit added: “Cultured meat is another exciting technology, having the same sustainability and animal welfare proposition as plant-based meat. It can also offer new properties to satisfy future consumer needs and will be a key part of our ambition to be one of the leading alternative-protein companies.”
Future Meat, founded in 2018 by Professor Yaakov Nahmias, has yet to commercially launch its chicken, beef, lamb and pork developed from animal cells on the market.
The Rehovot-based business has received backing from a host of investors, with US meat giant Tyson Foods’ venture fund contributing to a US$347m Series B round in December, building on the $26.8m Future Meat raised earlier in 2021.
Moses Talbi, the executive vice president at Future Meat for finance and business development, said: “We are eager to partner with CPF, a world leading food company which truly believes in delivering quality products while maintaining the sustainability of our planet.”