Mar 19
In a groundbreaking move within the cultivated seafood industry, Umami Bioworks and Shiok Meats have unveiled their plans to merge, signaling a significant milestone for sustainable seafood alternatives. This strategic merger is poised to create a dominant force in the global market for eco-friendly seafood substitutes. Both headquartered in Singapore, the merged companies foresee a plethora of synergies that promise to streamline operations, expand commercial horizons, and accelerate regulatory approvals for cultivated seafood offerings.
Leading the charge as CEO of the unified company will be Mihir Pershad, CEO of Umami Meats. Pershad said: “Uniting Umami’s platform technologies around continuous biomanufacturing and machine learning-based automation with Shiok Meats’ groundbreaking crustacean work offers an expedited path to the cultivation of a range of sustainable seafood products”.
He added: “The technological and business synergies of this merger represent a vital strategic step towards addressing the critical challenges of cultivated seafood production and advancing our mission to supply sustainable, not-caught seafood without compromising the planet’s health”.
Sandhya Sriram, group CEO and co-founder of Shiok Meats, commented: “By bringing together these two iconic companies, we are creating a strong platform to make the vision of cultivated seafood a reality. The combined business means increased scale and speed to market in Asia and globally.
She continued: “The strong technology and team Umami has built will be the perfect custodian of the progress Shiok Meats has made on crustaceans, especially with our patent recently granted in the EU. I have always believed in consolidation to progress a novel industry like ours. I’m excited by the opportunities for what this new combined organization will achieve.”
This collaboration sets the stage for a transformative journey towards a more sustainable and ethical future for the seafood industry. More details are to be released upon completion of the transaction.
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