Eat Beyond Portfolio Company TurtleTree Scales Sustainable Cell-Based Milk Manufacturing

Rhea-AI Summary

Eat Beyond Global Holdings Inc. (CSE: EATS, OTCPK: EATBF) has announced its portfolio company TurtleTree Labs will collaborate with Solar Biotech to enhance the production of cell-based milk. This partnership aims to scale biomanufacturing to make sustainable, cost-competitive products. The non-dairy milk market is forecasted to reach $38 billion by 2024, growing at a CAGR of 14%. CEO Michael Aucoin highlighted the significance of efficient production in driving mainstream adoption of cultured products, underscoring the environmental benefits of cell agriculture.

Positive

• Collaboration with Solar Biotech aims to scale production of cell-based milk, enhancing TurtleTree's capabilities.
• The non-dairy milk market is projected to grow at a CAGR of 14%, potentially reaching $38 billion by 2024, indicating a significant market opportunity.

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• None.

VANCOUVER, BC, Aug. 24, 2021 /PRNewswire/ - Eat Beyond Global Holdings Inc. (CSE: EATS) (OTCPK: EATBF) (FSE: 988) ("Eat Beyond" or the "Company"), an investment issuer focused on the global plant-based and alternative food sector, is announcing that its portfolio company, Singapore and U.S. based Turtletree Labs Pte. Ltd. ("TurtleTree") will be working with Virginia-based Solar Biotech to rapidly and sustainably scale production of its cell-based milk. 

Solar Biotech provides contract technology development and manufacturing services for industrial biotechnology partners. It uses its proprietary algorithm to offer tailored modular plant architecture to reduce operating costs and drive scale in biomanufacturing.

TurtleTree's mission is to provide access to sustainable, reliable, and higher-quality food products. Using its proprietary, cell-based technology method, the company hopes to eliminate the reliance on livestock agriculture which heavily taxes the planet's resources.

"Scaling the biomanufacturing of cell-based milk to create a cost-competitive end product is a key challenge for the industry," said Michael Aucoin, CEO of Eat Beyond.  "This collaboration has the potential to make a significant impact on TurtleTree's ability to do this. We need to be able to ultimately drive mainstream adoption of cultured products for them to be successful in the market, and that means producing these products efficiently, sustainably, and at scale."

Globally, the non-dairy milk market is projected to grow at a CAGR of 14% from 2018 to 2024, reaching $38 billion (US) by 2024, according to a July 2021 report from SDKI. A 2020 report from the Good Food Institute found that non-dairy milk sales increased 86% in the first quarter of 2020 compared to the same period in 2019.

"TurtleTree and Solar Biotech are two companies on the cutting edge of this emerging industry, and both are dedicated to developing a sustainable, climate-friendly supply chain," added Aucoin. "If cell agriculture can be scaled in an environmentally sound way, this has the potential to truly revolutionize the way our food systems impact our planet. Replacing traditional animal products is something we must approach in a multitude of ways - and cell agriculture has a key role to play. "

Learn more about TurtleTree and subscribe to company updates here: https://turtletree.co/

Subscribe to updates about Eat Beyond Global here: https://eatbeyondglobal.com/contact/

About Eat Beyond Global Holdings

Eat Beyond Global Holdings Inc. ("Eat Beyond") (CSE: EATS) (OTCPK: EATBF) (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

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SOURCE Eat Beyond Global Holdings Inc.

FAQ

What is the collaboration between Eat Beyond and TurtleTree Labs?

Eat Beyond's portfolio company, TurtleTree Labs, is partnering with Solar Biotech to scale the production of cell-based milk sustainably.

What market opportunity does Eat Beyond see in the non-dairy milk sector?

The non-dairy milk market is expected to grow at a CAGR of 14%, reaching $38 billion by 2024, presenting a significant growth opportunity.

How will the partnership with Solar Biotech impact TurtleTree Labs?

The partnership aims to improve TurtleTree's production efficiency of cell-based milk, making it more cost-competitive in the market.