mosa meat secures €40 million to scale cultured beef production

2024-05-24 bio

Mosa Meat has raised €40 million to enhance its production processes and prepare for market launch, aiming to advance sustainable food solutions with its cultured beef.

Introduction to Cultured Meat and Mosa Meat’s Role

Mosa Meat, founded in 2016 in the Netherlands, is a trailblazer in the cultured meat industry. The company is headquartered in Maastricht and has significantly contributed to the development and popularization of lab-grown meat. Mark Post and Peter Verstrate, the founders, introduced the world’s first cultured beef hamburger, marking a significant milestone in the food industry. This innovation aims to revolutionize the global food system by producing real beef in a cleaner and more sustainable manner.

Funding Details and Strategic Partnerships

The recent €40 million funding round was led by Lowercarbon Capital and M Ventures, with participation from new investors like Invest-NL, regional development agencies, and PHW Group. This diverse group of investors underscores the broad support for Mosa Meat’s mission to create a more resilient and sustainable food system. The funds will be used to scale up production processes, reduce costs, and prepare for market entry, signaling a significant step towards the commercial availability of cultured beef.

Benefits of Cultured Meat

Cultured meat offers numerous benefits over traditional meat production. It requires significantly less land and water, reduces greenhouse gas emissions, and avoids the ethical issues related to animal slaughter. According to the company, this method of meat production can help tackle climate change and biodiversity loss by providing a more sustainable alternative to conventional meat. The use of cultured beef also aims to meet the growing global demand for meat in a way that does not irreparably damage the planet.

How Cultured Meat is Produced

The production of cultured meat involves growing animal cells in a controlled environment. This process starts with the extraction of cells from a living animal, which are then placed in a nutrient-rich culture medium that promotes their growth and multiplication. Over time, these cells differentiate into muscle tissue, creating meat that is biologically identical to conventional beef. Mosa Meat has developed a scalable bio-production process that includes the addition of myoglobin for meat’s red color and fat tissue to enhance flavor and texture.

Mosa Meat’s Impact and Future Plans

Mosa Meat’s CEO, Maarten Bosch, emphasized the importance of collaboration and innovation in bringing cultured meat to market. The company has already made significant strides, including the successful operation of a scaling facility and obtaining B Corp certification last year. Mosa Meat is now gearing up for formal tastings of its cultured beef in the Netherlands, a crucial step before market introduction. The company’s vision is to organize the food system in a way that ensures the production of good food for a growing population without causing irreversible environmental damage.

Industry Outlook and Market Projections

The global market for lab-grown meat is projected to grow substantially. Valued at USD 975.45 million in 2023, it is expected to reach USD 2156.45 million by 2030, exhibiting a compound annual growth rate (CAGR) of 12%. Mosa Meat, alongside other leading companies like Aleph Farms, Meatable, and Just Inc., is at the forefront of this burgeoning industry. The increasing investment and interest in cultured meat highlight its potential to become a mainstream food source in the coming years.

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