Tyson Foods have invested in clean-meat start-up business Memphis Meats. The investment made by Tyson Ventures has emphasized the company’s dedication to exploring new and innovative ways of meeting the global demand for food.
Tyson also own a stake in plant based company Beyond Meat, an alternative and competitive market that’s gaining momentum as more people seek to have meat-free options in their diet. However, this new investment into the clean meat market looks at providing animal protein that is consistently in demand, however, has a more sustainable approach to the demand.
Clean meat is grown in a lab by using animal cells. No animals die in the production of the meat, with some vegans supporting the concept as it would mean that a significantly lower number of animals would die, and the meat requires fewer resources in the production than the standard way of raising animals for the meat industry.
Justin Whitmore, the Executive Vice President of Corporate Strategy and Chief Sustainability officer at Tyson Foods said: “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.
“We continue to invest significantly in our traditional meat business, but also believe in exploring additional opportunities for growth that give consumers more choice.”
Memphis Meats are using the funds towards product development, speeding up the process considerably. Clean meat is expected to be available in shops by 2021. Co-Founder and CEO of Memphis Meats, Uma Valeti said: “We are excited that Tyson Foods will be joining us in our mission to bring meat to the table in a sustainable, affordable and delicious way.
“Our vision is for the world to eat what it loves, in a way that addresses today’s challenges for the environment, animal welfare and public health.”