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Global food-tech innovators like Corning Life Sciences and ScaleUp Bio are among those setting up shop. Inside a lab on the west coast of Singapore, the future of food production is being developed — or fermented, to be more precise. The company is ScaleUp Bio, a local contract development and manufacturing organization that provides submerged microbial and precision fermentation for food-tech startups. In the long term, this will reduce costs compared to traditional agricultural methods and help make food production more sustainable. Despite the sector's immediate funding challenges, Singapore is committed to being a consistent partner and helping companies with similar goals achieve success.
Persons: ScaleUp, Francisco Codoner, John Shyu, Shyu, ScaleUp's Codoner Organizations: Global, Life Sciences, ADM, Nurasa, Temasek, Deloitte, Good Food Institute, Singapore Government, Corning Life Sciences, Singapore's Agency for Science, Technology, Research, GFI, Food, Insider Studios, Singapore Economic Development Board Locations: Singapore, Southeast Asia, agrifood, Asia
Additionally, Cargill began marketing several plant-based protein ingredients, made from soy, pea and wheat, to food and beverage manufacturers worldwide. What to expect for plant-based meat in next decade Cargill's calculated approach to plant-based meats coincides with the nascent industry's trajectory. And then there's the consumer's appetite to pay a premium price for plant-based meat. So Cargill's biggest competition will be the established plant-based meat companies, like Beyond and Impossible, he said. The future of plant-based meat might be analogous to the ongoing transition to electric vehicles.
Persons: Florian Schattenmann, Cargill Cargill, Cargill, Schattenmann, it's, John Baumgartner, Baumgartner, Caroline Bushnell, Bushnell, that's, Seth Goldstein, Goldstein, Tyson's Organizations: Cargill, Foods, Tyson Foods, Hormel Foods, Smithfield Foods, Cargill Inc, The, Bloomberg, Getty, Foods Cargill, Mizuho Securities USA, Good Food Institute, Cubiq Foods, FDA, North, Food and Drug Administration, Morningstar Research Services, Nielsen, annualized Nielsen, Nestle, Tesla, tiptoed, Ford, GM, Hyundai, Volkswagen Locations: U.S, Minneapolis, Montreal, Quebec, Canada, Spanish, Berkeley , California, Puris, North American, Netherlands, Bflike, Belgian, North America
A “Star Trek“-like, food-on-demand 3D printer has just served up a real, cultivated fish fillet for the first time. Steakholder Foods, a startup based in Israel, produced the 3D-printed cut of grouper – “a significant milestone in the food industry,” says Arik Kaufman, CEO of Steakholder Foods. Chicken nuggets from Steakholder Foods, pictured, are considered a hybrid product, containing both plant-based and cultured ingredients. At the time of writing, Singapore is the only country in the world where cultivated meat products are commercially available. “One way is to create hybrid products, so something that (combines) cultivated meat with plant-based meat or conventional meat,” Block tells CNN.
Persons: , Arik Kaufman, Mihir Pershad, ” Kaufman, we’ve, Orit Goldman, Liz Specht, Davis, Ronen Mangan, David Block, GFI’s Specht Organizations: CNN, Steakholder Foods, Good Food Institute, UN, of California, NASA, Foods, Food and Drug Administration, FDA, UC Davis, Consortium Locations: Israel, Singapore, bioreactors, California
Two years after Singapore greenlighted lab-grown meat for human consumption, mass production has yet to start. The technological, regulatory and scale barriers to entry for cultivated meat are very high compared to plant-based meat, said Didier Toubia, chief executive of Israel's Aleph Farms, which makes cultivated beef steak. "It's too high and it's embarrassing ... We lose money every time someone enjoys our cultivated chicken," Eat Just CEO Josh Tetrick said. Hong Kong-based Avant Meats is more bullish than Eat Just, with ambitions to make a premium food, cultivated fish maw. Fish maw is the swim bladder of a fish, a delicacy prized in China that could fetch up to thousands of dollars per kilogram, depending on its grade.
But to reach its ultimate destination - supermarket shelves - cultivated meat faces big obstacles, five executives told Reuters. California-based cultivated meat company GOOD Meat already has an application pending with the FDA, which has not been previously reported. Regulatory approval is just the first hurdle for making cultivated meat accessible to a broad swath of consumers, executives at UPSIDE, Mosa Meat, Believer Meats, and GOOD Meat told Reuters. But it will take hundreds of millions of dollars for GOOD Meat, for example, to build bioreactors of the size needed to make its meat at scale, Tetrick said. But cultivated meat companies have the advantage that they can claim their product is real meat, Tetrick said.
Boeing (BA) – Boeing rose 2.2% in premarket action after United Airlines (UAL) announced a 200-jet order that includes 100 787 Dreamliners and 100 737 Max jets, with options for further purchases. Moderna (MRNA) – The drugmaker announced that its experimental melanoma vaccine combined with Merck (MRK) cancer treatment Keytruda cut the risk of skin cancer recurrence by 44% compared with a treatment of only Keytruda. First Solar (FSLR) – First Solar rose 1.1% in premarket trading following news that it will replace Fortune Brands Home & Security (FBHS) in the S&P 500. Mirati Therapeutics (MRTX) – Mirati Therapeutics surged 8.6% in premarket trading after the drugmaker's new lung cancer treatment adagrasib received Food and Drug Administration approval. Fiverr (FVR) – Fiverr added 1.1% in premarket trading after Citi initiated coverage of the stock with a "buy" rating.
[1/2] A small toy figure and gold imitation are seen in front of the Gold Fields logo in this illustration taken November 19, 2021. Gold Fields' decision reflects "commitment to capital discipline" and to fairness for shareholders in Gold Fields and Yamana, the South Africa-listed miner said on Monday. Gold Fields shares fell by 20% when it announced the all-stock deal in May, denting the deal's appeal for Yamana shareholders. The Agnico/Pan American offer would only become effective if Yamana shareholders vote against Gold Fields' offer on Nov. 21. The counter-bid for Yamana shows gold miners are keen for new assets to supplement dwindling gold reserves and ensure their long-term growth, but Gold Fields' decision not to raise its bid is a sign of fears about overpaying.
Berkshire Hathaway (BRK.b) – Berkshire Hathaway gained 1.5% in premarket trading after Warren Buffett's firm reported better-than-expected earnings, with revenue also topping Street forecasts. Meta Platforms (META) – Meta added 2.6% in the premarket after The Wall Street Journal reported that the Facebook parent was preparing to announce large-scale layoffs this week. Apple (AAPL) – Apple shares slid 1.8% in the premarket after it said Covid-19 restrictions are hindering iPhone production at the Foxconn factory in China. Yamana Gold (AUY) – Yamana Gold lost 2.7% in the premarket after Gold Fields (GFI) said it would not change the terms of its takeover deal with Yamana. Ryanair (RYAAY) – The airline's stock gained 6.2% in premarket trading after it reported its largest-ever profit for the first half of the year.
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