Company Deemed Multi-Billion Dollar For This Lab-Grown Meat
Living in a world that enables consumers to enjoy eating meat without actually having to harm any animals sounds like a pretty amazing idea. Thanks to a multi-billion dollar company, that is precisely the direction this world is moving in, and people are thrilled to see this unfold. Everyone but farmers, that is. CNBC reported on Josh Tetrick, the CEO of Eat Just, and the very first company to place lab-grown chicken to your dinner table.
This leap from animal consumption to the production of a product that resembles meat without the actual use of animal products at all is revolutionary, and business is booming.
With many people putting their focus on health and wellness and a huge movement towards animal rights, it's no wonder that so many people are moving away from consuming meat products. Food sustainability has been under scrutiny, with many farmers and corporations alike sounding the alarm to indicate trouble ahead. There is widespread interest in the development of plant-based or cultured meats, and Barclays reports that "the alternative meat market could be worth $140 billion — or 10% of the global meat industry — within a decade."
As far as Eat Just goes, they've actually 'cracked' the code on making the egg. Turning everything we know about chicken upside down, they've mastered the technology to create an egg from a plant, thanks largely in part for the huge investment made by billionaire tech investors Vinod Khosla and Samir Kaul. They dug into their pockets to the tune of $500,000, and after many years of experimentation, they tapped into the mung bean and have been able to recreate the egg.
Their mission was simple; "To create real chicken and real beef that didn’t require killing an animal, that didn’t require using a single drop of antibiotics. And that’s broadly a process called cellular agriculture.”
So how did they do it? The simple answer is that they extracted cells from a real chicken or the root of a feather and fed it nutrients by letting it grow and mature in a steel casing or vessel. Within 14 days, raw, minced meat is ready for the consumer.
CNBC reports that; "the chicken nugget is now available at Singapore restaurant 1880, retailing at around $17 for a set meal. More restaurants in the city-state are expected to come on board in the coming months"
What does this mean for the average consumer? It means stay tuned, this complex innovation has arrived, and it's getting a whole lot of attention from investors. Eat Just has raised over $400 million from the likes of "Khosla Ventures, Founders Fund, Bill Gates’ Gate Ventures and Singapore’s Temasek." It is now seeking funding at a valuation of $2 billion.
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