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Wednesday, 1 November 2023

Neom invests in food tech firm BlueNalu to scale up cell-cultured seafood production

Neom and BlueNalu sign MoU on food sustainability: KSA’s net zero city Neom has entered into a partnership with US-based food tech company BlueNalu to partner on sustainable and secure food ecosystems by promoting cell-cultivated seafood, according to a statement. The agreement covers advancing the commercialization, marketing, and distribution of BlueNalu’s cell-cultured seafoods regionally and conducting consumer research. Neom has invested USD 20 mn to support BlueNalu in scaling their operations and commercializing sustainable seafood practices globally.

What is cell-cultured seafood, Enterprise? Like cell-cultivated meats, cell-cultivated seafood is a form of lab-grown protein. It is made directly from fish cells that are fed a mixture of nutrients to multiply. The cells then are concentrated and form seafood portions.

About BlueNalu: The California-based company is an innovator in cell-based seafood products and aims to support the sustainability and diversity of oceanic ecosystems globally. BlueNalu announced that it was expanding into the Asia-Pacific region earlier this month, and its partnership with Neom marks its regional debut.

The region is on board with lab-grown proteins: The UAE’s Switch Foods kicked off operations on its new alternative protein production factory in Abu Dhabi’s Khalifa’s Industrial Zone last May. Qatari Doha Venture Capital also partnered with Eat Just on a USD 200 mn cultivated-meat facility in Qatar’s Umm Alhoul Freezone. The Oman Investment Authority (OIA) also agreed to set up a JV with MycoTech to use the natural sugar present in dates as carbon to fuel the production of mushroom-based protein.

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