Thai Union has invested in BlueNalu, a start-up specialising in cell-based seafood production, through its venture fund.
The California-based company is backed by a number of strategic and financial partners.
Cell-based seafood products use fish cells to produce fish products, such as mahi-mahi and bluefin tuna.
Innovation And Sustainability
Thiraphong Chansiri, CEO of Thai Union, described the investment as another example of its philosophy of "innovation and sustainability", and added that BlueNalu is a perfect partner to complement this philosophy as the producer is at the "forefront of cell-based seafood technology, with strong process capabilities to scale-up seafood in a sustainable manner."
BlueNalu is the first investment made by Thai Union's venture fund in the cell-based seafood industry.
Lou Cooperhouse, BlueNalu CEO, said that the deal represents "their commitment to innovation."
Venture Fund
The Thai Union's venture fund was launched in 2019 and focuses on three areas: alternative protein, functional nutrition, and new technologies along the food value chain.
BlueNalu, which is aligned with the United Nations' Sustainable Development Goals, will leverage this financing to complete the world's first commercial pilot facility to produce cell-based seafood and market launch plans in late 2021.
© 2021 European Supermarket Magazine – your source for the latest retail news. Article by Conor Farrelly. Click subscribe to sign up to ESM: The European Supermarket Magazine.