Cargill is working with billionaires Richard Branson and Bill Gates with an investment into laboratory meats producer Memphis Meats.
The US based company has raised just over £17m for investment into hopefully cutting production costs of conventual meat products. Memphis produce meat from animal cells without the breed and slaughter process – they hope to triple their recruitment activity with the investment.
“I’m thrilled to have invested in Memphis Meats,” Mr Branson has been quoted as saying. “I believe that in 30 years or so we will no longer need to kill any animals and that all meat will either be clean or plant-based, taste the same and also be much healthier for everyone.”
“The world loves to eat meat, and it is core to many of our cultures and traditions,” Uma Valeti, co-founder and chief executive officer of Memphis Meats, said in the statement. “The way conventional meat is produced today creates challenges for the environment, animal welfare and human health. These are problems that everyone wants to solve.”
To date, Memphis Meats has raised $22m, signalling a commitment to the “clean-meat movement,” the company said.
Cargill has “taken an equity position in Memphis Meats’ first series of funding,” Sonya Roberts, the president of growth ventures at Cargill Protein, said in an email, without disclosing the investment amount.
IndieBio was the first invester of memphis meats “How we think of it is that first we domesticated cows and now we’re domesticating their cells,” IndieBio program director Ryan Bethencourt said recently. Bethencourt said he’s perennially on the hunt to fund “alternatives from the use of animals, food, fashion consumer goods.”