Seafood giant, Thai Union Group PCL has recently invested in BlueNalu Inc through its venture fund.
US-based BlueNalu is one of the world’s leading cell-based seafood companies. Cell-based seafood is an innovative way to produce premium fish products directly from the cells of fish and is equivalent to conventional products in terms of its taste, texture and nutritional profile. The company plans to introduce a wide variety of cell-based seafood products including mahi mahi and bluefin tuna.
BlueNalu will use the funds that it got from investors to finance the world’s first commercial pilot facility for producing cell-based seafood, with the goal of launching its first product by late 2021.
Thiraphong Chansiri, President and CEO of Thai Union said, “Thai Union is an industry leader in innovation and sustainability, and cell-based seafood perfectly aligns with both of these goals. BlueNalu and its experienced team is at the forefront of cell-based seafood technology, with strong process capabilities to scale-up seafood in a sustainable manner. We are excited to work with them and look forward to exploring collaboration opportunities.”
Lou Cooperhouse, BlueNalu’ co-founder, President and CEO added, “We are thrilled that BlueNalu is the first investment that Thai Union has made in the cell-based foods sector. Thai Union’s investment in BlueNalu represents an investment in the future of food and their commitment to innovation. We look forward to exploring various ways in which we will complement Thai Union’s position as one of the largest seafood operators globally.”
Thai Union’s venture fund was launched in 2019 with an initial commitment of US$30 million and focuses its investments on 3 strategic areas namely alternative protein, functional nutrition and new technologies along the food value chain.
