SINGAPORE – Eat Just, a plant-based food startup, has partnered with a consortium led by Proterra Investment Partners Asia to build and operate a plant protein production facility in Singapore, Eat Just’s first factory in Asia.
The consortium will provide up to US$100 million in funding to build and operate the factory, while Eat Just will invest up to US$20 million.
The resulting Eat Just subsidiary, Eat Just Asia, will serve Just Egg manufacturing and distribution partners across the continent. The new factory, the company’s first in Asia, will generate thousands of metric tons of protein, according to Eat Just.
“This partnership will further accelerate our path to become one of the world’s largest producers of eggs in the next decade,” said Josh Tetrick, co-founder and CEO of Eat Just.
“Consumer demand, driven by health, food security and food safety, is creating an environment of extraordinary opportunity for this unique partnership.”Josh Tetrick – Co-founder and CEO, Eat Just
“Proterra’s experience across sourcing and manufacturing will be invaluable. Consumer demand, driven by health, food security and food safety, is creating an environment of extraordinary opportunity for this unique partnership.”
Outside of the Just Egg protein partnership, Eat Just and Proterra Asia are said to be in discussions to expand their alliance to encompass the commercial production of cultured meat.
“Proterra is excited to announce this collaboration to form a strategic alliance with Eat Just for Asia; we would like to help consumers across Asia get better access to the excellent plant-based egg product by establishing a fully integrated supply chain within Eat Just Asia,” Tai Lin, managing partner of Proterra Asia, said.
The partnership will combine Eat Just’s proprietary protein separation technology, leadership and business model with Proterra Asia’s on the ground experience across the continent.
Earlier this year, Eat Just partnered with Michael Foods, a subsidiary of Post Holdings, to scale up supply of Just Egg in the US.
Just Egg, one of the main products of Eat Just, is a plant-based, dairy-free product which reportedly mimics the properties of egg. The egg alternative is made with protein derived from mung beans and is available in pourable liquid and pre-baked patty formats. Eat Just also offers a mayonnaise substitute.
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