Singapore pushes food innovation limits becoming the first country to approve lab grown meat

SINGAPORE – Singapore, a sovereign island city-state in maritime Southeast Asia and one of the most progressive countries when it comes to embracing food innovations, has allowed the sale of lab grown meat, becoming the first country in the world to do so. With the approval given, Eat Just Inc., a maker of meat and egg substitutes, now has the go ahead to sell its laboratory-created chicken to Singaporean consumers. The product, created from animal cells without the slaughter of any chickens, will debut in Singapore under the GOOD Meat…

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Singapore’s instant cereal maker Viz Branz acquired by alternative asset manager Investcorp

SINGAPORE – Ownership of Singapore’s instant cereal maker Viz Branz is about change following a deal signed between existing shareholder and chief executive Ben Chng and Alternative asset manager Inverstcorp. In a statement, alternative asset manager Investcorp said has it agreed to acquire a majority stake in Singapore-based Viz Branz for an undisclosed sum. The Bahrain-listed firm said that the deal was successfully concluded in partnership with the Asia Food Growth Fund I. “This transaction represents an exciting opportunity in a market leading company and in what we believe is…

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U.S. Center for Dairy Excellence unveiled in Singapore with enhanced resources and innovative programming

SINGAPORE – The U.S. Dairy Export Council has officially unveiled a new U.S. Center for Dairy Excellence (U.S. CDE) in Singapore with enhanced resources and innovative programming to accelerate market development for U.S. dairy in Southeast Asia. Funded by U.S. dairy farmers and processors through the National Dairy Checkoff, the U.S. CDE represents a gateway for collaboration between the U.S. dairy community and Southeast Asia’s food and beverage stakeholders, the culinary community, health professionals and other partners. The center’s focus is on inspiring regionally tailored nutrition and innovation solutions with…

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Eat Just partners with Proterra to launch its first factory in Asia

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…

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Olam Coffee sets its first formal sustainability targets for 2025 across its supply chain

SINGAPORE – Olam Coffee, one of the leading green coffee origin exporters and part of Olam Food Ingredients, has set its first formal sustainability targets for 2025 across its global, direct coffee supply chain, under its new Coffee LENS programme. Coffee LENS, standing for Livelihoods, Education and Nature at Scale, focusses on four priority areas to improve economic opportunity, education and skills, climate action and ecosystems in the coffee sector. As part of its new programme, Olam Coffee has committed to reducing its greenhouse gas emission intensity by 15%. The…

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FrieslandCampina launches new smart packaging innovation for its infant formula milk brand

SINGAPORE – FrieslandCampina, a dairy cooperative, has launched a new packaging innovation in Singapore, FRISO TrackEasy, an industry-first smart packaging innovation that enables mothers to track the source of its infant formula milk brand, Friso. Friso TrackEasy provides users with batch-specific information around Friso’s dairy farming, milk collection, production process, quality auditing and export. FRISO TrackEasy builds on FrieslandCampina’s 140-year Dutch dairy expertise and its end-to-end control of its entire product journey to provide mums with batch-specific information around FRISO’s dairy farming, milk collection, production process, quality auditing and export.…

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Olam International successfully upsizes its debt facility to US$1.98bn to refinance existing loans

SINGAPORE – Agri-food company, Olam International has announced in a statement that it has upsized its flagship debt facility by US$300 million to US$1.98 billion which it will use it to refinance existing loans. Four new banks have joined Olam’s multi-tranche revolving credit facility that was first secured on September. Bank of Baroda has come on as a senior mandated lead arranger; Bank of China and Unicredit Bank are mandated lead arrangers, and Westpac Banking Corporation as a lead arranger, taking the total banking group to 25 banks. The upsized…

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Meat alternative producer Next Gen sets base in Singapore after US$2.2m seed funding round

SINGAPORE – Plant based meat producer, Next Gen has chosen Singapore as its global headquarter due to its innovation ecosystem and centrality to Asia. Next Gen aims to tap into Asia’s meat substitute market which according to Technavio will see significant growth in the global market which is estimated to reach a value of US$12.75 billion by 2030. Mordon Intelligence in a report estimates that Asia-Pacific plant protein market is anticipated to grow at a CAGR of 6.1% in 2020-2025. The plant-based pork segment seems will be the most lucrative…

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Cell-based seafood producer Shiok Meats raises US$12.6m in Series A round

SINGAPORE – Shiok Meats, Cell-based seafood producer, has raised US$12.6 million in a Series A round led by Aqua-Spark, a Netherlands-based VC firm focused on sustainable aquaculture. The alt-protein startup is culturing ‘lab-grown’ prawn, crab, and lobster meat from isolated stem cells, with an initial focus on commercializing prawn products. Shiok said that it will put the Series A funds towards construction of a first-of-its-kind commercial pilot plant, where it will culture cellular minced shrimp at scale with the aim of launching the product on the market within the next…

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Meat alternatives maker Meatless Farm raises US$31m to support its expansion plan

UK – Meatless Farm, a meat alternatives brand, has raised US$31 million from new and existing investors to support its expansion in the UK, Europe, US and Asia as global markets emerge from the Covid-19 related lockdown. The funding round follows a previous round of $17 million (£13.3) raised by the Leeds-based company. The proceeds will be used to expand the brand in existing markets, access new regions, expand the product lines, and further build out the manufacturing operations in Canada. With the market for plant-based food estimated to grow…

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