U.S. approval may be secured by start-ups promoting lab-grown meat in 2022.

• Cultivated meats are real animal products made in a lab.
• In Singapore, regulators approved the sale of cultivated chicken in 2020, while in the U.S., the FDA and USDA are currently considering it.
• Cultivated meat could help tackle climate change and cut down on animal meat consumption in the decades to come, despite the costly manufacturing process.
• According to Crunchbase data, approximately $2 billion has been invested into space by investors in the past two years.

Josh Tetrick, CEO of Eat Just, envisions a future where lab-grown meat is accessible in all types of restaurants, including Michelin-starred establishments, street vendors, and fast food chains.

To achieve widespread adoption of cultivated meat, more investment and regulatory approvals are required. Cultured meat is a real animal product produced in labs and commercial facilities, and although currently expensive, researchers and entrepreneurs predict that manufacturing will become more efficient and cost-effective over time. Shifting to cultivated meat could help reduce greenhouse gas emissions from agriculture and mitigate climate change.

Tetrick stated in an interview that the outcome is not predetermined and could occur in either 30 years or 300 years. It is the responsibility of companies like ours to develop the engineering skills and communicate directly with consumers about the benefits and limitations of the technology.

In the last two years, investors have invested approximately $2 billion in the space, according to Crunchbase data. The year to come is expected to see more investment as companies like Eat Just and others continue to work towards gaining regulatory approval from the Food and Drug Administration and the Department of Agriculture in the United States.

As early as this year, Nick Cooney, managing partner at LeverVC, which invests in the sector, anticipates obtaining approval.

Building out large pilot scale facilities to produce cultivated meat products will require a significant amount of capital expenditure, steel, and time, according to him.

In the past two years, Eat Just has experienced significant advancements, including regulatory approval for its Good Meat cultured chicken in Singapore, where it is now authorized to sell various cultivated chicken products such as chicken breast, tenders, and shredded chicken.

Tetrick stated that the meat they produce is real and requires only a cell, which can be obtained from a biopsy, fresh meat, or a cell bank. This eliminates the need for billions of animals, land, water, and rainforests. They then identify the nutrients needed to feed the cell and produce the meat in a stainless steel vessel called a bioreactor.

In the U.S., Eat Just sells plant-based egg products made from mung beans in stores such as Whole Foods and Publix, and has over 200 employees.

Over 700 individuals in Singapore have consumed Tetrick's cultivated meat products, and the company aims to quickly increase this number as it obtains approvals in other countries.

Eat Just's Good Meat division has already laid the groundwork to hit the ground running with its $267 million capital raise last year, which was used to build vessels and systems for production in both the U.S. and Singapore. The company aims to have the equipment operational in the next two years, and in August announced a facility in Qatar, in partnership with Doha Venture Capital and Qatar Free Zones Authority. However, much more capital will be needed to build bioreactors large enough to scale up production.

Over 100 start-ups are developing cultivated meat products, and larger corporations are also increasing their production.

BioTech Foods was acquired by the global protein giant in late 2021, with an investment of $100 million to enter the cultivated meat market and establish a research and development center in Brazil. Another leader in the cultivated food space, the Spanish biotech company focuses on developing biotechnology for producing cultivated meats.

Consumers' growing concern about climate change and desire to change their eating habits have led to the increasing popularity of plant-based meat products. These products can be found on menus at restaurants like Chipotle and in grocery stores like Whole Foods. Cultivated meat could offer Americans another alternative, which could be sold alongside products made by companies like Beyond Meat and Impossible Foods.

Without addressing food and land, the world will not achieve net-zero emissions, according to Caroline Bushnell, vice president of corporate engagement at the Good Food Institute.

Industrial meat production is a significant contributor to climate change, but our food system's role is often overlooked. Alternative proteins, such as cultivated meat, can help reduce emissions from our food system. In order to meet our obligations under the Paris Climate Agreement, we must decrease industrial meat production.

Chef Jose Andres, a restaurateur and founder of nonprofit humanitarian group World Central Kitchen, has joined the board of Eat Just’s Good Meat division and pledged to sell its cultivated chicken at one of his U.S. restaurants pending regulatory review.

To achieve his vision, Tetrick must reduce costs in addition to keeping promises.

Tetrick stated that a local diner or a big fast food chain will not accept a more expensive meat option. They will only take it if it is close in cost or even cheaper. This is what we need to fight for, according to Tetrick.

Josh Tetrick, CEO of Eat Just, discussed the importance of reducing the cost of cultivated meat to make it competitive with conventional meat.