American start-up Memphis Meats, focused on laboratory meat, has attracted 17 million dollars (14.3 million euro) in investments. There are several high-profile investors as well: Bill Gates and Richard Branson, but also Cargill Inc, one of the largest agricultural companies in the world.
Less pressure on the environment
In total, the start-up attracted 22 million dollars (18.4 million euro). Memphis Meats is focused on meat manufacturing, without any animal in the entire chain. The technology seems far-fetched right now, but could become very important in the future as the environmental footprint for this type of food is much smaller than for traditional meat. The meat industry currently contributes more than half of our gas emissions and a third of the global water consumption.
Memphis Meats has managed to manufacture chicken, beef and duck from just a few cells. The additional investments will go towards an expanded product range, lower costs and an increased production speed. Currently, it takes much too long and costs too much money to get the meat into stores.