Eat Beyond Announces Strategic Focus on Singapore, a Global Leader in Food Tech, and Marketing Agreement
December 02 2020 - 9:03AM
InvestorsHub NewsWire
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Eat Beyond Announces Strategic Focus on Singapore, a Global Leader
in Food Tech,
and Marketing Agreement
Singapore is on the forefront globally for key food tech such as
cell agriculture, and is home to two of Eat Beyond's portfolio
companies: SingCell and TurtleTree Labs
Vancouver, B.C. –
December
2nd,
2020 -- InvestorsHub NewsWire –
Eat Beyond Global Holdings Inc.
(CSE:
EATS)
(FSE:
988)
("Eat
Beyond" or
the "Company"),
an investment issuer focused on the global plant-based and
alternative food sector, is announcing the strategy behind its
recent investments in Singapore food techs, SingCell Tx Pte Ltd.
("SingCell")
and TurtleTree Labs Pte. Ltd. ("TurtleTree").
"Building a
successful global portfolio requires us to consider not only
individual companies but also the external market and governmental
forces that can shape and drive success regionally," said Patrick
Morris, CEO of Eat Beyond. "Necessity is the mother of invention,
and in the case of Singapore, this holds true. It is a highly
advanced country with a very small geographic footprint, which has
limited its domestic agriculture industry. It is now seeking food
security and decreased dependence on foreign nations for its food
supply. The border closures spurred by the pandemic have likely
exacerbated this issue further."
Less than 1% of
land in Singapore is used for agricultural food production, and
over 90% of food is imported, according to a report from
Nature.com. Singapore's government is aiming to shift this so that
30% of food demand will be met by local agricultural production in
the next decade, according to its "30 by 30" plan.
"We can expect to
see vast advancement of the technologies surrounding vertical
farming, cell agriculture, aquaculture, intelligent supply chain,
and similar areas," added Morris. "When we looked at TurtleTree
Labs and SingCell, we see their objectives highly aligned with the
government priorities. We see them doing a lot of things right by
integrating their offerings into the value chains for cell-based
meat production and the cell-based production of key milk Products.
Both companies have also received strong support by way of grants
from the Singapore government."
The team at Eat
Beyond predicts that there is a high probability that the first
cell-based meat and milk products will be approved in Singapore.
Eat Beyond is committed to working closely with its portfolio
companies, taking a hands-on approach to support their
success, sharing industry connections and knowledge.
TurtleTree is
taking an original equipment manufacturer (OEM) approach by
recreating the full composition, functionality, and taste of milk
by developing the technology to produce the unique components of
milk sustainably as well as integrating those components into
products. The company then can have the opportunity to not only
produce cell-based milk but partner with other companies to
integrate it into their products.
SingCell is using a
contract development and manufacturing organization (CDMO) model
with its proprietary platform to enable global alternative meat
companies to develop scalable processes for clean
meat manufacturing.
The company will be able to support manufacturing processes for
other cultured meat companies, while also providing more
streamlined access to Asia-Pacific markets.
"We plan to
continue to investigate opportunities in Singapore and expand our
investment base there as it is truly leading the way for many of
the most game-changing food technologies," added Morris.
Marketing
Agreement
The Company
also announces that
it has
entered into a service contract (the "Service Contract") with Media
Relations Publishing, Carsten Schmider
("Media
Relations"), to provide marketing and
consulting services, including certain investor relations
services, for the purpose of creating
market awareness of the Company. The terms of the Service Contract
with Media Relations include payment of EUR 200,000 for an 8-week
period commencing December 1, 2020. The Service Contract may be
extended for an additional term at the discretion of the
Company.
-##-
About Eat Beyond Global Holdings
Eat Beyond Global Holdings Inc. ("Eat
Beyond") (CSE:
EATS)
(FSE:
988) is
an investment issuer that makes it easy to invest in the future of
food. Eat Beyond identifies and makes equity investments in global
companies that are developing and commercializing innovative food
tech as well as plant-based and alternative food products. Led by a
team of food industry experts, Eat Beyond is the first issuer of
its kind in Canada, providing retail investors with the unique
opportunity to participate in the growth of a broad cross-section
of opportunities in the alternative food sector, and access
companies that are leading the charge toward a smarter, more secure food
supply. Learn more: https://eatbeyondglobal.com/
Find Eat Beyond on
Social Media on LinkedIn, Instagram, Twitter
and Facebook
For media
inquiries, please contact: Brittany@Exvera.com
For investment
inquiries, please contact: Info@Eatbeyondglobal.com
For
further information, please contact Cindy Chiu at
Info@Eatbeyondglobal.com or
(236) 521-6499
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