Tyson Foods Invests in Clean Meat Startup Memphis Meats
Two years ago, many were shocked to learn that Tyson Foods, one of the biggest meat producers in the US, took a 5% ownership stake in Beyond Meat, the company revolutionizing plant-based burgers for the masses.
The company is back at it again, and has now invested in clean meat startup Memphis Meats. The startup is known for creating the world’s first cultured meatball as well as the world’s first clean poultry (both chicken and duck).
As The Good Food Institute notes, this move “follows a comment in May 2017 from Tyson CEO Tom Hayes predicting that in 25 years, 20 percent of meat produced will be either clean or plant-based.”
In a press release, Uma Valeti M.D., co-founder and CEO of Memphis Meats, stated:
“We are excited that Tyson Foods will be joining us in our mission to bring meat to the table in a sustainable, affordable and delicious way. Our vision is for the world to eat what it loves, in a way that addresses today’s challenges for the environment, animal welfare and public health. We are accelerating our work and building out a world-class team to make this a reality.”
Justin Whitmore, Executive Vice President of Corporate Strategy and Chief Sustainability Officer of Tyson Foods, noted that this move is an opportunity for the company to broaden its “exposure to innovative, new ways of producing meat,” especially since the “global protein demand has been increasing at a steady rate.”
Memphis Meats adds that the funds will be used to “accelerate product development.” You can read the full press release here.