Toronto-based Dao Foods International will promote plant-based and clean meat in China to curb the country's growing appetite for animal products.
New Toronto-based investor coalition Dao Foods International (DFI) formed this week with the mission to fulfill the rising demand for meat in China with plant-based and “clean” meat (meat made from animal cells in a lab-setting) alternatives. Co-initiated by nonprofit Good Food Institute, DFI is a collaboration between investment groups Dao Ventures, Moonspire Social Ventures, and New Crop Capital—the latter of which has invested in 16 companies that make meat alternatives, including Beyond Meat and Memphis Meats. “With rapid rising incomes and increasing meat consumption in China,” DFI co-founder Albert Tseng said, “our aim is to introduce alternative products into the China market to reduce the consumer demand for animal products from the traditional livestock industry, which has had growing negative environmental, food safety, and health impact.” DFI plans to establish an office in China to promote animal-free meat alternatives to investors in the region—which consumes one-quarter of the world’s meat. Food technology company JUST (formerly Hampton Creek) plans to debut its first clean meat product by the end of this year, with European-based Mosa Meat to follow in 2020. JUST CEO Josh Tetrick plans to expand the impact of its existing products—including new vegan egg substitute Just Scramble—by opening its first manufacturing facility outside of the United States in Asia this year.
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