The giant of the food sector JBS (JBSS3) announced this Tuesday the start of construction of BioTech Foods’ first commercial-scale cultured meat factory, in which the Brazilian company is the majority shareholder, in Spain.
To Reuters, JBS said that the unit will be the largest in the world of laboratory-produced meat. When the works were completed, in mid-2024, the factory will be able to produce more than a thousand tons of cultivated protein per year, with the possibility of expanding its capacity to 4 thousand tons per year in the medium term.
This movement should contribute to further diversify JBS’ product portfolio, which already operates in the main animal proteins, being the largest global meat producer.
“The new BioTech plant puts JBS in a unique position to lead the segment and surf this wave of innovation”, said the director of the Added Value Business Unit at JBS USA and one of those responsible for the company’s cultured protein strategy, Eduardo Noronha.
A JBS is the majority shareholder of the Spanish company, European leader in the cultured protein sector, with a 51% stake. The unit is being built in San Sebastián.
According to Noronha, the factory will allow BioTech Foods to offer cultured protein “as an innovative product, which will meet consumer demand for healthy, tasty and sustainable food products”.
Industry executives told Reuters earlier this year that lab-grown meat, produced in large steel tanks from animal cells, could soon be on restaurant menus after one company won key regulatory approval to move forward.
Cultured meat is still one of the bets to help the world meet the growing global demand for food by 2050, according to an assessment by the Food and Agriculture Organization of the United Nations (FAO), cited by JBS.
In this context, JBS has been announcing investments in the sector in recent years. The unit in San Sebastián will receive contributions of US$41 million.
“BioTech Foods has the technology and capability to produce protein on a large scale… With the challenges posed to global supply chains, cultured protein offers the potential to stabilize food security and global protein production,” said the co-founder. and CEO of BioTech Foods, Iñigo Charola, in a note.
JBS said BioTech Foods plans to gradually increase its production capacity to meet growing consumer demand, and sees Australia, Brazil, the European Union, Japan, Singapore and the United States as key markets.
In addition to the venture in Spain, JBS will build a state-of-the-art center for research and development of biotechnology and cultured protein in Florianópolis, with an estimated investment of US$60 million.
The objective is to develop 100% Brazilian state-of-the-art technology to produce alternative proteins.
Source: Moneytimes
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