Plant-based egg producer Eat Just to build Singapore factory By Reuters

SINGAPORE (Reuters) – Plant-based egg substitute startup Eat Just Inc said on Tuesday it had partnered with a consortium led by Proterra Investment Partners Asia to build a plant protein production facility in Singapore to serve the Asian market.

The consortium will invest up to $100 million and Eat Just will invest up to $20 million to build and operate the factory, its first in Asia.

“Once built, the first factory will generate thousands of metric tons of protein, adding to existing large-scale protein facilities in North America and Germany,” Eat Just said in a statement.

The San Francisco-based start-up makes a mung bean-based egg substitute that comes in bottles and looks like beaten fresh eggs. Eat Just, which also makes a mayonnaise substitute, sells its products in stores including Walmart (N:), Kroger (N:) and Whole Foods.

Its existing distribution partners in Asia include South Korea’s SPC Samlip and Thailand’s Betagro.

Demand for plant-based meat substitutes and proteins has grown as customers have become increasingly health conscious and are concerned about the environmental impact of industrial animal farming.

Singapore, a densely populated city-state that produces only about 10% of its food needs plans to increase that proportion as climate change and population growth threaten global food supplies.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

{n.callMethod? n.callMethod.apply(n,arguments):n.queue.push(arguments)};
s.parentNode.insertBefore(t,s)}(window, document,’script’,
fbq(‘init’, ‘751110881643258’);
fbq(‘track’, ‘PageView’);

by : Reuters

Source link

Capital Media

Read Previous

Oil prices steady but rising infections and oil supply weigh By Reuters

Read Next

le président Félix Tshisekedi annonce la création de la Coordination présidentielle du digital