Thursday, December 3, 2020

Eat Just scales Asian presence of vegan egg product with new partnership

Sustainable foods specialist, Eat Just, has partnered with a consortium led by investment management Proterra Asia to meet demand for the plant-based JUST EGG in Asia.

The consortium will invest up to $100 million and Eat Just will invest up to $20 million to build and operate their first-in-Asia, and largest, plant protein production facility in Singapore.

The resulting Eat Just subsidiary – to be known as Eat Just Asia – will serve JUST Egg manufacturing and distribution partners across Asia.

Once built, the first factory will generate thousands of metric tons of protein, adding to existing large-scale protein facilities in North America and Germany.

Future facilities that are envisaged to be built in Asia will follow as the demand for protein in the region increases to hundreds of thousands of tons, creating additional jobs and infrastructure.

“This partnership will further accelerate our path to become one of the world’s largest producers of eggs in the next decade,” said Josh Tetrick, co-founder and CEO of Eat Just.

“Proterra’s experience across sourcing and manufacturing will be invaluable. Consumer demand, driven by health, food security and food safety, is creating an environment of extraordinary opportunity for this unique partnership.”

“The partnership between Eat Just and Proterra is an important addition to Singapore’s agri-food ecosystem and will build new innovation and production capabilities within the sector here,” said Damian Chan, Executive Vice President of the Singapore Economic Development Board.

“This will allow us to better cater to the needs of the Asian markets, while creating exciting opportunities for Singapore.”

Outside the scope of their JUST Egg protein partnership, Eat Just and Proterra Asia are in discussions to expand their alliance to focus on another promising avenue for protein innovation – the commercial production of cultured meat.

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