Israeli cultivated meat company Future Meat Technologies has changed its name to Believer Meats. The rebranding is part of a broad strategic change of Future Meat into a technology-rooted food company as Believer prepares for its product launch. Believer's process and technology have paved the way to bring cultivated meat one step closer to commercial viability, pending US regulatory approval.
Future Meat raised $347 million in December 2021 at a company valuation of $900 million. The company opened the world's first cultivated meat production line in Israel in 2021and will now scale production of its cultivated meat products at its new commercial-scale production facility, which is expected to break ground in the US before 2023.
Believer CEO Nicole Johnson-Hoffman said, "People are biologically conditioned to crave meat, but the conventional ways meat gets made today make it difficult to feel good about eating it. Our company rebranding to Believer embodies the course we've charted to build a better future of meat production. Our evolution from a biotechnology startup to a consumer-driven food technology company is a milestone on the pathway to broad adoption of cultivated meats and, importantly, signals that we're nearing commercial launch."
Believer founder, president and CSO Prof. Yaakov Nahmias added, "Our name change speaks to our confidence in our mission to make it possible for all future generations to eat meat. Our team has created a revolutionary technology that blazed ahead of the field in terms of cost, safety and product experience. While cultivated meat has its skeptics, we believe in demystifying the technology and critically demonstrating that there is a better way to produce meat through open science and innovation. As the demand for meat continues to grow in coming decades, the current conventional meat industry won't be able to meet the supply needed. That's why we believe cultivated meat is needed to secure healthy, sustainable and affordable nutrition for coming generations."
Published by Globes, Israel business news - en.globes.co.il - on November 17, 2022.
© Copyright of Globes Publisher Itonut (1983) Ltd., 2022.