UK – UK-based cultured meat manufacturer Ivy Farm Technologies has announced a partnership with biotechnology investor BSF Enterprise to expand its operations into China.
BSF Enterprise, the owner of UK clinical and cell ag company 3D Bio-Tissues, will work closely with Ivy Farm Technologies to advance investment opportunities that support the company’s fundraising efforts.
Ivy Farm, established as a spin-out from Oxford University in 2019, is currently in a Series B funding round, having raised US$40 million in equity to date.
According to Ivy Farm spokesperson, the partnership seeks to pave the way for cultivated meat to enter the Chinese market, with BSF Enterprise leading outreach initiatives to facilitate Ivy Farm’s fundraising goals.
“This collaboration aims to explore opportunities for producing cell-based meat in the Chinese market, leveraging BSF Enterprise’s expertise and investment capabilities,” he said.
“BSF spearheads the outreach initiatives in Ivy Farm’s ongoing funding round, aimed at facilitating the scaling up of technology to accommodate large production-sized fermenters.”
In addition, he revealed Ivy Farm’s plans to leverage large-scale fermenters powered by renewable energy to produce up to 12,000 tonnes of meat annually from a single efficient facility.
The approach is expected to significantly reduce greenhouse gas emissions by 92% and land use by 90% compared to traditional farming practices.
Highlighting China’s substantial meat consumption, Ivy Farm revealed plans to address a significant portion of the market demand, which accounts for over 100 million tonnes annually, representing more than a quarter of global meat consumption.
On the other hand BSF Enterprise, recently establishing a Hong Kong-based entity to develop a distribution and partner network in the Greater China market, noted that it is well positioned to assist Ivy Farm with its strong presence in the Asian cultivated meat market.
Che Connon, managing director of BSF Enterprise and CEO of 3DBT, emphasized the importance of this collaboration in aligning with China’s food security objectives outlined in its five-year agricultural plan.
“We look forward to helping Ivy Farm enter the China market through securing investment and working with key manufacturers to develop a variety of cultivated meat products that can serve a significant, growing market.”
Ivy Farm Technologies specializes in producing mincemeat from various sources, including Wagyu beef, Aberdeen Angus, and English large white pork tissue, to create a range of products such as burgers, meatballs, and scotch eggs.
In 2022, the company launched a pilot plant capable of producing 2.8 tonnes annually, powered by solar energy, and claimed to be the largest of its kind in Europe.
A spokesperson for Ivy Farm highlighted the company’s partnerships with several entities, facilitating scale-up with low capital expenditure and enabling rapid increases in production volume.
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