When a meat giant like Tyson Foods invests in a lab-grown startup like Memphis Meats, people pay attention.
Tyson Ventures announced earlier this week that it has secured a minority investment in the startup that is growing meat out of animal cells.
This is not the first time Memphis Meats makes headlines, though. The startup also has high-profile investors like Bill Gates and Richard Branson.
The Silicon Valley startup’s mission is “to change the way meat gets to your plate,” with the goal to produce authentic meat without having to feed, breed and kill real animals. They aim to achieve this by developing a way to produce real meat in a lab from animal cells.
The team behind the startup expects that not only will their product be “delicious,” but that it will be better for the environment because it would require using “90 percent fewer greenhouse gas emissions, land, and water than conventionally-produced meat.”
“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 corporate strategy and chief sustainability officer of Tyson Foods, in a company statement. “We continue to invest significantly in our traditional meat business, but also believe in exploring additional opportunities for growth that give consumers more choices.”
According to “Forbes,” the goal for Memphis Meats is to replace meat with meat (that is more affordable) and not an alternative protein.
“We want to work with them to scale. Cost is the main focus for us,” Memphis Meats CEO and cofounder Uma Valeti told “Forbes.” “At the endpoint, it will be significantly cheaper than conventional meat.”
Memphis Meats is based in the San Francisco Bay Area and is looking to grow beef, chicken, and duck meat with animal cells.
To learn more about Tyson Foods and Memphis Meats, read “Forbes.”