The alternative protein start-up will establish a new R&D facility and a pilot manufacturing plant in the island nation
Avant, the first cultivated meat company in China and the first cultivated fish company in Asia, is establishing new Research & Development and pilot manufacturing facilities plan in Singapore with the support of the Singapore Economic Development Board.
The new facilities will be supplemented by existing operations in Greater China and Avant will recruit local talents as part of its expansion.
Carrie Chan, co-founder and chief executive of Avant, said: “Avant has grown its presence in strategic locations in Asia to optimize its market access, technology ecosystem, and funding opportunities. Singapore provides Avant with regulatory clarity, international talents, and sufficient space for the next step of scaling up.”
Avant explained in a statement that Asia Pacific dominates the global fish and seafood markets at $60.5 billion in 2018 and Asia is projected to account for 71% of the additional fish consumed by 2028. The company said the expansion to Singapore represents an important milestone of Avant’s pan-Asia strategy.
“Avant is an example of an alternative protein company which has tapped into the eco-system opportunities in Singapore to bring innovative products to market and capture growth opportunities in Asia.” said Damian Chan, executive vice president, Singapore EDB. “We welcome their expansion here and will continue to work with companies to leverage Singapore to enable innovations in sustainable Agri-Food technologies.”
Singapore’s ‘30 by 30’ national food security policy targets to produce 30% of the nation’s nutritional needs locally by 2030, with less than 1% of land designated for agriculture. The island nation is the only country with a regulatory precedent for approving the sale of cell-cultured meats.
Date published: 27 April 2021