Deep-tech food company MeaTech 3D announced a collaboration with Umami Meats for the joint development of 3D-printed cultured structured seafood. This collaboration opens a door for both companies into the Asian market, and Singapore specifically, which is currently the only country that has authorized the production and distribution of cultured meat.
The agreement is part of MeaTech's strategy of collaboration with other players in the alternative protein space and takes advantage of the company's flexibility in its technological and biological capabilities to develop and print a wide variety of species. With this agreement, MeaTech will be adding seafood to its portfolio, a market reportedly worth US $110.2 billion this year and growing at a CAGR of 3.6%. (FIA)
Mihir Pershad, Umami Meats' founder & CEO sees this as an opportunity to expand their product range with 3D printing capabilities saying that "this partnership will enable us to build upon our technology platform for cultivating fish muscle and fat to produce a variety of structured products that meet the desires of discerning consumers.”
Both companies firmly believe in the potential of cultivated seafood to address the many challenges the market faces with overfishing, supply shortages, and climate change overall.