Wednesday, September 27, 2023

CULT Food Science invests in cell-based oyster company

CULT Food Science has made an investment in Pearlita Foods, which is said to be the world’s first cell-based mollusk company. Pearlita has also received funding from Sustainable Food Ventures and Big Idea Ventures New Protein Fund.

Based in Raleigh, North Carolina, Pearlita has set out to make the first cultivated oyster meat. Its mission is to harvest the ocean’s finest foods and revolutionize the way that people eat the sea’s finest delicacies through ethical, clean and sustainable methods.

Pearlita aims to produce oysters with no reliance on the ocean or live animals, by using stem cells and bioreactors to produce cell based oysters that have rich flavour and substantial nutrition. By investing in Pearlita, CULT is supporting the future of cell-based seafood, which aligns with its goals to help commercialize cellular agriculture and make it more common in the global food supply chain.

Oysters used to be abundant around the world, however, today over 85% of wild oyster reefs have been lost globally. Oysters are also one of the most expensive seafood products in the world and oyster farming relies solely on the ocean. With ocean temperatures rising and contamination, the future of oyster farming is uncertain. Cell-based fish and mollusks can be made with current technologies and are currently viewed as being a safe alternative to seafood farming that can provide desired health benefits for consumers.

Nikita Michelsen, Chief Executive Officer of Pearlita, said: “We are so excited to have CULT part of our journey. It is truly inspiring to be part of a portfolio filled with so many forward-thinking and passionate companies that believe in a future without reliance on live animals for human consumption.

“With this investment Pearlita is one step closer to bringing healthy & nutritious oysters to the plates of seafood lovers.”

Lejjy Gafour, President of CULT, added: “We are pleased to have made an investment in Pearlita, especially alongside some of the world’s most forward-thinking funds in the cellular agriculture space. CULT wholeheartedly supports Pearlita’s mission and goals focused on cell-based seafood.

“We believe that the passion of the people at Pearlita will result in great strides being made in cell-based seafood sector, particularly regarding fish and mollusks. We are excited to not only continue allocating capital toward great ventures like Pearlita in the cellular agriculture market, but also to continue developing our own intellectual property and participate directly in the evolution of the industry.”

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