Tyson Invests in Cultured Meat Maker Memphis Meats
By Dave Fusaro, Editor in Chief
Jan 31, 2018
Tyson Ventures, the venture capital arm of Tyson Foods, revealed on Jan. 29 it has invested an unspecified amount in Memphis Meats, one of the startup companies creating “cultured meat,” produced directly from animal cells.
“The investment is an example of Tyson Foods’ commitment to explore innovative, new ways of meeting growing global demand for protein,” the company said in a statement.
While the terms were not disclosed, Tyson Foods investment represents a minority stake in the business. Tyson joins a diverse group of investors in Memphis Meats, including DFJ, Atomico, Cargill, Bill Gates and Richard Branson.“We’re excited about this opportunity to broaden our exposure to innovative, new ways of producing meat, especially since global protein demand has been increasing at a steady rate,” said Justin Whitmore, executive vice president of corporate strategy and chief sustainability officer of Tyson Foods. “We continue to invest significantly in our traditional meat business, but also believe in exploring additional opportunities for growth that give consumers more choices.”
FINISH READING: Tyson Invests in Cultured Meat Maker Memphis Meats
Cultured Meat Info > http://www.futurefood.org/in-vitro-meat/index_en.php
Memphis Meats > http://www.memphismeats.com/