NEW TECH FOODS

Meatable has been awarded €7.6 million under the Netherlands Enterprise Agency’s (RVO) ‘Innovation Credit’ programme.

The RVO Innovation Credit is intended to advance the development of innovative projects with ‘considerable technological risks and excellent market prospects.’

Meatable plans to use the credit to further improve productivity and reduce costs in the lead-up to commercialisation. The start-up expects its unique technology platform to work as a partner to the meat industry to roll out products at scale.

Agronomics co-founder and executive chair, Jim Mellon, said: “The new funding awarded to Meatable is a testament to its innovative approach and the immense potential of cultured meat...Meatable's innovative approach offers a promising solution by producing meat without the need for animal slaughter, thereby reducing carbon emissions, water consumption, and land use. We are excited to see Meatable enter the next stage of growth as it achieves regulatory approval and commercialises its products."

The Innovation Credit comes on top of Meatable’s €30 million Series B funding round in August last year and will bring the company one step closer to commercialisation. Meatable also recently held ‘Europe's first’ public tasting of its cultivated meat products at its headquarters in Leiden, the Netherlands, and in April, the firm announced that it had achieved a 50% reduction in production times for its pork sausage from 8 days to just 4.

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