May 12, 2021

Israeli lab-grown meat startup Future Meat has slashed production costs by half

Future Meat, an Israeli lab-grown meat startup, said it was able to slash its production costs for producing a 110g hen breast from US$7.50 early this year to just under US$4, Digitpatrox reported.

Rom Kshuk, chief executive of Future Meat, said he projects production costs to drop further to below US$2 over the next 12 to 18 months.

The company is aiming to gain regulatory approval from the United States Department of Agriculture and US Food and Drug Administration to launch its product there in the next 18 months.

The company is backed by major firms Tyson Foods, Archer Daniels Midland Company, and S2G Ventures.

While there are more than 50 lab grown meat startups looking to enter the alternative meats market, only Eat Just has obtained governmental approval in Singapore for the sale of their product.

- Digitpatrox