To use all functions of this page, please activate cookies in your browser.
Shiok Meats and Minh Phu Seafood sign MOU to establish an R&D facility
Advancing development and capabilities of Cultivated Seafood
Shiok Meats Pte. Ltd. (Shiok Meats) and Minh Phu Seafood Joint Stock Company (Minh Phu Seafood) announced today that they had signed an MOU to cooperatively carry out research and development (R&D) in the production of sustainable seafood, which includes setting up a joint R&D facility in Vietnam. The announcement is a step forward in sustainable cultivated aquaculture innovation, paving the way for conventional seafood companies to leverage cutting-edge cultivated seafood technology to offer a diversified portfolio of both conventional and cultivated seafood. The joint R&D facility adds to the ecosystem around healthier diets and rising mindful consumption.
In addition to this R&D lab collaboration, Shiok and Minh Phu will explore the opportunity to develop, produce, market, and distribute cultivated shrimp products. The collaboration includes working on a feasibility study of commissioning and operating plants to produce cultivated crustaceans in Vietnam. These prospective development schemes are also well aligned with Minh Phu’s long term visions, which are to pioneer state-of-the-art technologies, aiming toward the sustainable development of the seafood industry in Vietnam particularly and the whole world.
In a joint statement, Dr. Sandhya Sriram, Group CEO, Chairman & Co-Founder of Shiok Meats, said, “Setting up a joint R&D facility with Minh Phu Seafood is a major milestone for us. Our vision has always been collaborating with established seafood companies and hatcheries to add variety to the portfolio and food security narrative through aquaculture innovation, research, and tech transfer. Our satellite R&D facility in Vietnam will focus on high-quality cultivated shrimp research and technology.”
Currently, Shiok Meats operates two satellite R&D facilities, one in Thailand and another one in Australia. In 2021, Shiok Meats had raised a bridge funding round bringing the total raised capital to approximately US$30 million. Shiok Meats has shown proof of concept and showcased cultivated shrimp, lobster, and crab prototypes since its inception in August 2018. The company is now building its pilot production facility in Singapore, which will speed up large-scale manufacturing capabilities. The company is on track to launch the world’s first cultivated shrimp in at least one premium restaurant in Singapore by 2023.
- 13 drink trends to watch-out for in 2022
- 2Tequila, verjus and more: trend drinks 2022
- 3A plant-based replacement for dairy and eggs in foods
- 4How to ruin the taste of a cookie with just 2 words
- 5Kroger Announces 10 Food Trend Predictions for 2022
- 6Beyond cows: 3 strategies for milk from other animals to compete with cow and plant based diary
- 7Food prices on record course
- 8Consumption of pistachios is associated with a variety of health benefits
- 9More beer in the glass with physics
- 10Ecological coating for bananas
- Novel technique to grow meat in the lab using magnetic field
- A hairy solution to urban farming: growing salad out of human hair
- Scientists develop fungi-based food product that tastes and shreds like meat
- Shiok Meats and Minh Phu Seafood sign MOU to establish an R&D facility
- Olam food ingredients (“ofi”) completes acquisition of Club Coffee L.P.