BlueNalu has signed agreements with two seafood providers in Asia – Thai Union and Japan’s Mitsubishi Corporation – to accelerate market development strategies for cell-cultured seafood in the continent.
The Memorandums of Understanding (MOU) represent a mutual interest in the commercialisation of cell-cultured seafood in Asia. They form part of BlueNalu’s Asia-focused strategy, given the area’s “high-demand for quality seafood and the potential for diminishing supply”.
The MOUs will see the companies collaborate to conduct market research and gather consumer insights from various regions, as well as assess regulatory requirements. The two partnerships – which are independent from each other – will also involve the exploration of business and product opportunities that could accelerate the launch of cell-cultured seafood throughout Asia.
Thai Union recently participated in BlueNalu’s latest $60 million round of financing, marking its biggest funding round to date. With the capital, the cellular aquaculture start-up plans to build its first commercial pilot production facility in San Diego.
“We are excited by the collaborations with Mitsubishi Corporation and Thai Union, as these will help us to accelerate our pathway to commercialisation and advance BlueNalu’s mission to provide the world with sustainable seafood options that could provide so many benefits for consumers, our ocean and our planet,” said Lou Cooperhouse, president and CEO of BlueNalu.
“We recognised early on that our ability to make the biggest impact at BlueNalu will be in part due to collaborations with leading global organisations that can facilitate the quickest and most efficient pathway to market possible, at the least possible cost.
“We are keen to continue working with industry partners in Asia and other markets, and we are actively pursuing opportunities to create such relationships worldwide.”
Last year, BlueNalu signed a similar MOU with South Korean company Pulmuone – which also participated in its Series A funding round – to accelerate the introduction of its cell-based seafood into the Asian marketplace.
© FoodBev Media Ltd 2020
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