Cultured meat company Mosa Meat has announced progress on reducing productions costs and raised further capital from Bell Food Group.
In June, the company moved to the new pilot plant facility, and earlier in July Bell Food Group announced to expanded their stake in Mosa Meat by investing a further €5 million. The aim of this financing round is to raise money for the construction of an industrial production plant and drive forward the development and scaling-up of the technology. An additional goal is to have the product admitted to the market in Europe by 2022. Mosa Meat wants to be the first company to launch a cultured meat product on the European market.
Bell Food had already taken a EUR 2 million share in the Mosa Meat start-up in 2018. It supports Mosa Meat’s development and research work with its expertise and know-how as one of the leading producers and marketers of meat and charcuterie products in Europe. The Bell Food Group also has a strong foothold in the development of innovative nutrition concepts, and it invests constantly in new production technologies and trends for customer-specific solutions.
Mosa Meat CEO Maarten Bosch, says: “We are very excited and grateful to have the support of such an acknowledged and influential industry leader. Having Bell Food Group as our partner gives us confidence that we can achieve our plan to bring cultivated beef to market in 2022”.
Furthermore, in late July, the company announced a further step forward in its mission to provide sustainable meat products. As they write in the company online blog they have significantly improved the cell culture media to drive down their cost. “We has been working to ensure the media we use is completely animal component-free. In addition to this, they’ve made a huge amount of progress in lowering the cost, which is vital given the medium will be the most expensive part of our process. Indeed, after successfully developing animal-free media, the MO team has reduced the cost by 88 times,” the company states.
//EVENT HIGHLIGHT: Webinar on Food Innovation | 30 July 2020//
On 30th July a free EFIB webinar on food innovation invites experts from HigherSteaks, Better Nature, Peace of Meat and CellulaREvolution to discuss upscaling challenges of cultured meat and plant-based products.