Plant-based egg substitute producer, Eat Just, has partnered with an investment consortium to establish a plant protein production facility in Singapore that will serve the Asian market.
The consortium, led by Proterra Investment Partners Asia, will provide up to $100 million in funding to build and operate the factory, while Eat Just will invest up to $20 million.
The resulting Eat Just subsidiary – Eat Just Asia – will serve Just Egg manufacturing and distribution partners across the continent.
Just Egg is a plant-based, dairy-free product which reportedly mimics the properties of egg. The egg alternative is made with protein derived from mung beans and is available in pourable liquid and pre-baked patty formats. Eat Just also offers a mayonnaise substitute.
The new factory, the company’s first in Asia, will generate thousands of metric tons of protein, according to Eat Just.
“This partnership will further accelerate our path to become one of the world’s largest producers of eggs in the next decade,” said Josh Tetrick, co-founder and CEO of Eat Just.
“Proterra’s experience across sourcing and manufacturing will be invaluable. Consumer demand, driven by health, food security and food safety, is creating an environment of extraordinary opportunity for this unique partnership.”
Tai Lin, managing partner of Proterra Asia, added: “Proterra is excited to announce this collaboration to form a strategic alliance with Eat Just for Asia; we would like to help consumers across Asia get better access to the excellent plant-based egg product by establishing a fully integrated supply chain within Eat Just Asia.”
Outside of the Just Egg protein partnership, Eat Just and Proterra Asia are said to be in discussions to expand their alliance to encompass the commercial production of cultured meat.
Earlier this year, Eat Just partnered with Michael Foods, a subsidiary of Post Holdings, to scale up supply of Just Egg in the US.
© FoodBev Media Ltd 2020